“I’m the CFO of Encore Business Solutions Inc., I’m also one of owners of Encore. We’re a value-added reseller of Microsoft Business Solutions. We have customers across the Prairies.

At the same time we also develop our own financial software applications, and we sell those throughout North America primarily, but also in different parts of the world.

Technology and accounting for large firms was always in place for many years, but for the small and medium sized businesses, it just started taking effect, back in the late 80s and early 90s.

The earliest records of tax accounting were found on clay tablets from Egypt and Mesopotamia from 3300 B.C.

So at that point, Encore started out as a home-based business selling network solutions and getting small companies set up on the internet and getting networks in place, and then we got into more of the accounting-based solutions, and then we were one of the first 100 partners who signed up with Microsoft Business Solutions, and grew to over 5 million dollars in revenue today.

That’s up from 1.8 million three years ago, so we’ve grown quite rapidly in the last three years.

Some of the R&D projects that we’ve been involved with have been upwards of 2 million dollars per year to go and research and develop and market the product. The risk becomes that two months before you’re about to launch your product, somebody in California launches the exact same product as you had, and now you’ve spent all the money on R&D costs that you’re never going to get back. We’ve been successful in that we’ve been able to recoup all of our investments of R&D so far.

We try to choose our advertising as a percentage of revenue, so it’s normally in the 10-12% of our annual revenue we try to commit to advertising. This year we’re on track to spent around 450-500 thousand dollars on marketing and advertising.”

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