Small Business Owners Showing Concern

As Canada’s number one merchant funding company, Synergy Merchant Services sees it as a duty to provide small to mid-sized business owners in the country with assistance. A merchant cash advance is the alternative to a bank loan, so as banks continue to deny these business owners money, we do our best to ensure that there is always a way for them to get extra working capital.

This is not to say that just anyone may be approved. But we do offer a quick and easy way for a business owner to discover if a merchant cash advance is available to him or her. It our hope, of course, that we will continue to help grow the economy in Canada through providing a service that allow entrepreneurs to take their businesses to the next level.

In the wake of the recession, making one’s business dreams come true is a tough task. At least, this is how many small and medium-sized business owners in Canada feel, according to a Canadian Federation of Independent Business survey that was released yesterday.

As the QMI Agency reports, entrepreneurs are losing faith as a result of uncertain market conditions. For the the third straight month, says the report, business owners are revealing a lack of confidence in the nation’s rate of economic growth. Writes QMI: “The CFIB’s business barometer index fell to 64.9 last month, down from 65.7 in July and well below the March peak of 69.9.”

They go on to explain that “an index reading higher than 50 means business owners who expect stronger performance in the next year outnumber those who expect weaker performance.” According to CFIB’s vice-president and chief economist Ted Mallett: “The current barometer reading suggests the economy is only growing at a modest 2%.”

Seven out of the ten provinces reported significant drops in optimism, with a heavy concentration in Western Canada. Quebec and Ontario stood out as two provinces where overall sentiments actually improved. As well, the CFIB survey found that eight out of 13 industries are experiencing a confidence decline.

Among them are such sectors as construction, manufacturing, wholesaling and financial services. The findings were based on 919 responses through a web survey. QMI notes that an alternative survey concluded that although business owners are cautious, hiring practices are still expected to increase.

As always, Synergy will work diligently to help small to mid-sized business owners in Canada gain confidence in the national economy. We know that with extra working capital, many objectives may be realized. We’re looking forward to future surveys revealing an upward trend in optimism throughout the country.