Canadian Confidence Climbing

At Synergy Merchant Services, we are always happy to hear when Canadian business owners are feeling confident about their futures. It is important to us that we communicate that the purpose of our merchant cash advance program is to help these businesses flourish.

With the global recession seemingly getting farther away in the rear view mirror, Canadian business optimism seems to be consistently growing. At least, this is the case according to a QMI Agency report that was released yesterday. A new survey by The Conference Board of Canada has found that business confidence is at its highest level in six years.

The growing sentiment is that the economy will continue to strengthen in 2011. In fact, the survey found that more than half of the business owners polled expect for economic conditions to improve over the course of the next six months. Only 11 per cent believe that things will actually worsen.

Investment spending is set to increase, according to the survey. Naturally, we have always affirmed, here at Synergy, that business owners who are willing to spend money in order to make money will inevitably gain greater profits and an increased customer base as a result.

With confidence rising across Canada, it is likely that more business owners will take the steps necessary to grow their companies. Our merchant cash advance program assists entrepreneurs in doing so by making their future credit and debit card sales work for them immediately.

Our clients generally invest the advance given to them, based on those sales, into renovations, advertising or buying new inventory. With no fixed repayment schedule to abide by when paying back the advances, our clients are assured that they are able to afford their payments while letting their investments generate bigger business.

Evidently, bigger business is expected this year as QMI reported other optimistic findings from the survey. 61.1 per cent of respondents indicated that they expect their firms to be more profitable within six months. Only 6.9 per cent predict a decrease in their profitability.

Writes QMI: “Canada’s economy put in its best performance in eight months in November, with gross domestic product expanding by 0.4%, double the pace of the previous month. Most sectors of the economy showed an improvement, though trade continues to be a drag, with the strong loonie and shaky external demand weighing on imports.”