In yesterday’s blog, we commented about some recent findings based on a Conference Board of Canada survey. Canadian business confidence is climbing, says the report. Business owners across the nation, it appears, are looking forward to a prosperous 2011 leaving behind apprehension and worry brought on by the recession
Today, QMI Agency reaffirmed this sentiment with the report of findings of the Canadian Federation of Independent Business’ Business Barometer Index. According to the report, small and medium-sized business owners believe that they will be able to improve and grow their companies without having to rely solely on their customers.
The index closed last month at 68.9, which QMI explains is a very positive sign. Any number above a 50, they write, indicates that the “owners who expect their business to be stronger in the next year, outnumber those expecting weaker performance. The index spent much of 2010 in the mid-60s range.”
Said CFIB’s vice-president and chief economist, Ted Mallett: “It appears to be the business-to-business side of the economy that is powering this latest improvement. After supporting the economy so well earlier in the recovery, the consumer-led sectors have remained in the background.”
The findings of the latest CFIB report are considered promising. QMI notes that businesses tend to rely too heavily on “the over indebted consumer and government stimulus efforts to power the recovery”. With this growing vision of being self-reliant and confident in one’s own business success, a Canadian business owner will find that he or she will have numerous ways to generate bigger business.
Having developed numerous relationships with business owners from all over the country, Synergy Merchant Services can attest to the fact that those who invest money into their businesses are the most successful. The old adage that “it takes money to make money” has always been proven to be true in our experience.
It is hopeful that with the revelations of nationwide optimism that have come out over the past couple of days, small and medium-sized businesses in Canada will continue in their roles as the collective backbone of the national economy. We, of course, look forward to supporting Canada’s entrepreneurs in this endeavor.