As with every holiday season, Canadian business owners experienced a busy sales period during these past holidays. Naturally, with increased customers come greater sales and increased profits. It’s no wonder then, that the QMI Agency reported a couple of days ago that Canadian small business owners are optimistic as they begin 2011.
Based on a new poll conducted by the Canadian Federation of Independent Business, business confidence is up by 5 per cent to 69.3 per cent nationwide. As QMI notes, this mark is quite close to the post-recession high that was reached last March. 2011, it appears, is expected to be a happy new year for entrepreneurs across the country.
Said CFIB vice-president and chief economist Ted Mallett: “Interestingly, it wasn’t holiday retail spending that accounted for the brighter sentiment. Instead, a large improvement in optimism among manufacturers, natural resource businesses, financial services and personal services firms pushed the overall index upward.”
It seems as if Canada’s east coast is home to the most optimistic business owners in the country. Newfoundland and Labrador is the nation’s most upbeat province with an average reading of 72.3 per cent. Ontario follows not far behind with 69.5 per cent. There were also noticeable improvements in the moods of bosses from Manitoba and Quebec as well.
As always, it is the mission statement of Synergy Merchant Services to assist Canadian small business owners with meeting their goals of increased business success. Continually striving to improve the customer experience in your establishment is part of running a successful business.
To grow your business in 2011, it will be necessary to look into your funding options. Synergy’s merchant cash advance program is the quickest and easiest way for business owners in Canada to secure extra working capital. Start your new year off right and give one of our funding specialists a call to being exploring your funding options.
Perhaps, we can work together on getting the CFIB’s business confidence barometer to post even higher results in 2012. With Canada leading the world in recession-recovery, we are confident that the nation will continue to show vast improvements in overcoming the economic downturn. Here’s to a prosperous new year!