There has been a lot of talk about the economy as of late, and for good reason. As we are all aware, today’s financial climate is in one of the worst shapes it has ever been in. As reported in a number of posts on the Synergy Merchant Services Blog, the negative impact on Canadian businesses and employees has been vast. The number of job losses, it seems, continues to grow.

However, this blog has also reported that several measures are being taken to reverse this trend as quickly as possible. Could such measures, such as The City of Toronto’s opening of new job opportunities, be working already?

In the March 27th, 2009 edition of The Toronto Sun, it was reported that a recent survey shows some promise for Canadian manufacturers and exporters. As indicated by The Canadian Press, the survey of over 700 companies suggests that the decline in the economy may be slowing down.

The survey reveals that only 49% of the companies surveyed expected a decrease in orders between March and June compared to 56% of those surveyed in February. Those seeking employment are beginning to hear better news as well.

According to the report, 13% of the respondents expect to increase staff over the next three months, up from 11% in February. In addition, expected layoffs have lessened over the last month from 45% to 42%.

It is hopeful that this optimistic trend will continue alongside the actualization of a better financial climate in Canada.

When Tenacious D first sang “Tribute” in 2002, their heartfelt homage to “the greatest song in the world”, it is likely that no one assumed that it would inspire the Synergy Merchant Services Blog. That’s right…”The Greatest Blog In The World”.

What other blog could possibly deliver with such unabashed articulation and tenacity (sorry Jack Black), posts on the very topic that interests every single human being worldwide – MONEY! We all want money. We all need money. But the Synergy Merchant Services Blog discusses money in a way that no other blog can. It reveals just how YOU can get it!

And if getting money through a merchant cash advance doesn’t interest you, what about the various pieces on the Canadian economy and other important current events? What got you hungrier – for food OR cash – than our mouthwatering articles about the recent CRFA Show? What got you more pumped – to turn up the volume on that radio of yours – than reading about Synergy’s presence on The FAN 590 and Tha O Show?

All brought to you by “The Greatest Blog In The World”!

Interestingly, there is no bigger proponent and supporter of “The Greatest Blog In The World” than Synergy Merchant Services Funding Specialist, Josh Cowan. When asked about the sheer awesomeness of this blog, Josh’s eyes lit up with excitement.

“I don’t have any children yet”, describes Josh, “but I imagine that this is what a proud parent must feel like. Every time our blog gives birth to a new post, I think ‘this is the greatest day of my life!’”

And why wouldn’t it be? Is there a blog that is truly more pleasurable to read? The grammatical brilliance of this blog alone has left many a reader in awe. As many as zero imagine nicer greatness. Think about it. What other blog can come up with a sentence that a.m.a.z.i.n.g.?

In Toronto, we have been experiencing warmer than normal weather recently. So much so, that even the snowflakes that speckled the home page of our very own Synergy Merchant Services website have all melted away!

Most Torontonians are hopeful that this is a surefire sign that winter is over and that spring is finally here. Similarly, most Canadians are hoping that along with the icy, cold and snowy conditions, the recession-impacted winter season is also gone.

In the March 18th, 2009 edition of The Toronto Sun, Julian Beltrame of The Canadian Press writes that this past winter was perhaps the worst in the history of the Canadian economy as a new report from Merrill Lynch notes that it is “shrinking faster than at any time since the Great Depression”.

The automotive industry, it seems, has taken one of the biggest hits financially, seeing a dip in wholesale sales by 23% this past January. This has impacted the entire country’s wholesale sales by 4.2% instead of the 0.9% it would have been had the automotive sector been excluded from consideration.

Writes Beltrame: “In dollar terms, wholesale sales fell to $41.1 billion in January, as the automotive products sector fell to $5 billion from $6.5 billion, and motor vehicles crashed to $3.37 billion from $4.8 billion.”

If the weather in Toronto is somehow a metaphorical sign of things to come, perhaps Canada’s financial hardships will work themselves out sooner than expected. Beltrame writes that Merrill Lynch economist David Wolf believes that the economy should begin to grow again by the second half of 2009, although it will take until 2011 for Canada’s economy to return to where it was in 2007.

To assist automakers with achieving this optimistic aim, the federal and provincial governments are preparing to offer billions of dollars in assistance to Chyrsler Canada and General Motors of Canada provided that they meet particular requirements like lowering their labour costs.

For the rest of this week, Toronto’s weather forecast indicates that temperatures are not set to dip below the freezing mark. As well, no snow is expected. Could things really be warming up?

Beltrame notes that in January, industries in the “other product” sector such as agricultural chemical and other farm supplies as well as seed wholesalers saw a 5.1% increase in sales after an 8.4% drop in December.

Surely, the nation collectively agrees that this occurrence hopefully does foreshadow a sunnier economic future.

As is now widely known, the team from Synergy Merchant Services had an absolute blast at the CRFA Show that took place at the amazing Direct Energy Centre at Exhibition Place in Toronto last week. Heralded as Canada’s largest hospitality event, the CRFA Show was a fantastic event that showcased numerous exhibitors from all over the country.
Restaurateurs, food suppliers and manufacturers, chefs and food lovers nationwide came out in droves to both present at and take in the annual festivities.

Synergy President, Jeff Szenes and Synergy Merchant Services Vice President of Marketing, John Meloche were visited by some excited guests (seemingly ready to dive into our stack of imitation $100 bills that were so very popular!). Among the guests was hip-hop recording artist and co-host of Tha O Show, Dan-e-o!

This past January, Synergy Merchant Services began advertising on the hugely popular internet radio show and invited Dan-e-o to the CRFA Show as a Synergy spokesperson. (Of course, Dan-e-o also took many opportunities to stuff his face with all of the incredible food made available at the show!).

Funding specialists Steve Gelberman, Robyn Downey and Jeff Benoliel also joined John Meloche at booth #705 to show exactly what Synergy Merchant Services is all about…giving out money! Each funding specialist had an awesome time meeting with guests and filling them in on our merchant cash advance program. In many cases, it was made clear that a merchant cash advance was recognized as an excellent alternative source of funding for visiting business owners.

From renovations and new menu designs to ordering new equipment and advertising, the ideas for growing businesses were endless. We certainly look forward to assisting the many owners that we met with their aspirations for success this year.

The multi-coloured pens on the table didn’t last long! As previously reported in this blog, Synergy’s marketing division created the MVP Sport Pen. Complete with a pull out pro hockey schedule for all six Canadian teams, this gift was happily given out to all of our visitors. An excellent marketing tool, this pen can be purchased with YOUR business name and contact information printed on it through Synergy Marketing Consultants.

Visit www.thebestpromoproducts.com to place your order.

We are currently facing one of the most difficult economic periods in our nation’s history. Business owners and consumers alike are bracing themselves for a recession that some insist will last well into 2010. Already, thousands of jobs have been lost and sadly, more Canadians will be let go from their places of employment throughout the year.

In the March 13th, 2009 edition of The Toronto Sun, Julian Beltrame writes that “Canada is suffering through one of the worst recessions in decades”. The Toronto-Dominion Bank, he reports, actually forecasts a much more harrowing picture of Canada’s economy than the Bank of Canada and the federal government.TD, he writes, projects that the economy will suffer a 2.4% reduction this year doubling the rate predicted by the Bank of Canada.

At Synergy Merchant Services, we are finding that many of our clients are rightfully questioning the merit of “taking on more debt” at a time like this. While we maintain the utmost understanding of the concerns that a business owner may have in attaining extra capital for his or her business during the country’s current financial climate, we remain confident that the payback structure of our program helps for peace of mind to be retained.

We continue to assure all of our clients that paying back a cash advance is performed very specifically through their business’ credit and debit sales. We work with each business individually to ensure that no one takes on more than he or she can handle.

We are aware that sales fluctuate depending on many factors. Different businesses flourish at different times of the year. In a case like the one we are all experiencing today, a slowing economy may simply translate into slower sales. To Synergy, this simply translates into a longer payback period for some clients. To our clients, it means the peace of mind in knowing that paying back their cash advances will not be a distressing process.

At Synergy, we are finding that many business owners in Canada still wish to purchase new inventory for the summer season or make repairs to their storefronts after the exasperating winter. Attaining the extra capital to make these wishes come true is still very much a reality.

Beltrame notes that both Prime Minister Stephen Harper and Finance Minister Jim Flaherty believe that Canada will, in fact, lead the world out of the recession. Interestingly, Royal Bank’s chief economist Craig Wright agrees: “The odds are Canada will outperform the U.S. in the recovery period.”

Synergy, of course, looks forward to helping Canadian business owners lead the way into a brighter economic future for our country.

In an effort to combat the tremendous number of job losses resulting from the current recession in Canada, the City of Toronto is planning to introduce no less than 1300 job openings. In the March 16th, 2009 edition of The Toronto Star, Paul Moloney reports that front-line jobs will be made available through several organizations such as the Toronto Transit Commission, BlackBerry and Chameleon System.

In addition, job positions including welfare caseworkers, private inspectors, tradespeople, tax collectors, lawyers and legal assistants, caretaking, customer service, security, cleaning and maintenance will all be opening up.

According to Moloney’s article, “City of Toronto Hopes To Hire 1,300″, Councillor Shelley Carroll insists that the impact of Toronto’s new hiring spree will not impact taxpayers significantly. She notes that only about 450 of the new workers will be paid through property taxes. In addition, “provincial funding is available for welfare caseworkers…while transit riders pay for bus drivers through the fare box.”

Transportation throughout the city, it seems, will be a source for several employment opportunities. In addition to the 222 new positions being offered by the TTC to expand service, another 271 workers will be needed to design and oversee projects like the Spadina subway extension, the Transit City streetcar network as well as the rehabilitation of bridges and major roads. Also, many of the cleaning, maintenance, repair and security work will be made available at Union Station among some other subway stations.

A city council meeting will be held at the end of the month to determine the budget for wages for these new jobs.

The past three days have been a thrilling experience for Synergy Merchant Services. As we have been reporting for weeks, Synergy took part in the annual CRFA Show at the beautiful and spacious Direct Energy Centre on the grounds of Exhibition Place in Toronto. What an event! The CRFA Show not only lived up to expectations but actually exceeded them all.

Visitors from all over the country and in fact, several from across the world strolled through the many aisles of exhibitors showcasing all kinds of fantastic foods, food service items other affiliated services. There was so much to see – and so much food to try – that it was non-stop excitement throughout the entire three day event.

We were delighted to speak to so many people about Synergy Merchant Services and our fantastic merchant cash advance program. Interestingly, but not surprisingly, many of our new friends were hearing about merchant cash advances for the first time. It spoke volumes about just how important events such as the CRFA Show are. Having the opportunity to meet with such a great number of business owners in the restaurant and food services industries was truly a worthwhile experience. We eagerly look forward to building the many new business relationships that have created over the past three days.

Interestingly, we seemed to attract many of our new associates with our inventive table display. Like we did last year, the Synergy Merchant Services booth was home to a large cake tray of imitation $100 stacks. Apparently, a lot of people are in need of money…even if it’s fake!

While we revealed that our stack of play money was simply a display item, by the end of the three day event, we were left with just a handful of stacks. We’ve been robbed!

Actually, all of our promotional items seemed to be big hits! Synergy happily gave out a ton of our very popular wine openers and exclusively made hockey calendar pens. Originally designed and exclusively distributed by our very own Synergy Marketing division, these pens all came with a nifty pull out calendar featuring this year’s schedule for all Canadian pro hockey teams! We were hard pressed to find anyone who didn’t become an instant fan of these pens. If you’re looking for pens like these or any other promotional item to feature the name and contact information of your business, please visit www.thebestpromoproducts.com

The CRFA Show truly was the world’s largest hospitality event. Every single guest was friendly. Every single visitor had a good time. Synergy is very proud to be a member of the CRFA and already looks forward to next year’s show. Hopefully we’ll have an even bigger stack of fake cash.

Stay posted to the Synergy Merchant Services Blog for photos from the event.

By the way, no word yet on whether or not John Meloche bought his lunch!

The excitement all over the Synergy Merchant Services offices at their headquarters in Toronto has been growing rapidly over the past week. Our funding specialists are bubbling with eager anticipation for the upcoming CRFA Show next week.

Taking place between March 8th and 10th at the sensational Direct Energy Centre on the grounds of Exhibition Place in Toronto, the CRFA Show is heralded as Canada’s largest hospitality event. Bringing together chefs, restaurant owners and food distributors from all over Canada as well as featuring workshops, seminars, cooking demonstrations, hundreds of various exhibitors and even a Guinness World Record attempt, the CRFA Show is definitely a can’t-miss event!

Needless to say, the funding specialists at Synergy Merchant Services are thrilled to be participating in the event, and are ready to introduce Synergy’s fantastic merchant cash advance program to a host of new friends at booth #705.

No one, however, is more ecstatic than Synergy’s Vice President of Marketing, John Meloche. “I’m SO excited” screams John, “Last year’s event was such an incredible experience. We met so many fantastic people and created so many great relationships with industry professionals from all over the country.
We had the time of our lives and I know this year’s event will be even better!”

“Last year’s CRFA Show was a great experience,” says funding specialist Steve Gelberman, “It was a great opportunity to meet and speak with all types of businesses that are under the CRFA umbrella. Whether they were manufacturers, food producers or restaurateurs, we found that having a presence at this incredible event was an excellent way to spread the word about merchant cash advances to professionals in this industry.”

“I wonder what John will buy for lunch this year”, adds Steve with a laugh.
An ongoing joke at Synergy Merchant Services for the past year involves John Meloche’s $20 purchase of a hot dog, French fries and a soft drink for lunch at last year’s event. The CRFA Show is well-known for having an abundance of complimentary food items of all sorts that are generously provided by nearly all restaurant exhibitors.

“I’m SO excited,” insists John Meloche.
At the time of this writing, it was unclear if John was referring to his anticipation of introducing more fellow CRFA members to Synergy’s merchant cash advance program…or the free food!

Yesterday, The Canadian Press reported that The Bank of Canada lowered its short-term interest rates to 0.5%. This is the lowest that it has ever been. In an effort to join the central bank’s move to assist with the national economic slump, Canada’s commercial banks have also lowered their prime rates by half a percentage point to 2.5%.

Scotiabank CEO Rick Waugh referred to the interest rate drop as “a step forward” for the economy, but kept in mind that the restoration of the world’s financial system remains the top priority.

According to reports in Sun Media Publications throughout the country today, the lowered prime rates now being issued by the banks may benefit some mortgage holders but will not likely have an instant impact on corporate borrowers or credit card holders.

Finance Minister Jim Flaherty has indicated that it is improbable that further cuts can be made but insists that the current interest rate slash should help to ignite resurgence in economic action.

“You have to have confidence,” Flaherty advises consumers, “This too will pass. We will come out of this and there will be opportunities as we do so.”

Unfortunately, the current state of the nation’s economy paints a dreary picture.
Canadian car and truck sales have dipped 27.7% last month from a year ago according to auto analyst, Dennis DesRosiers. As well, United States Steel Corp. recently announced that it is shutting down its Hamilton mill and closing most of its Lake Erie operations temporarily. Sadly, this has impacted the jobs of approximately 1,500 employees.

Flaherty, however, insists that the current job losses are not nearly as excessive as those that took place in the recession periods of the early 1980s and 1990s, and certainly not as extreme as the job losses that occurred during the Depression of the 1930s.

Only time will tell what type of effect the interest rate cuts will have on Canada’s current financial hardship.

For weeks, Synergy Merchant Services has been eagerly anticipating this year’s CRFA Show, which will take place at the marvelous Direct Energy Centre on the grounds of Exhibition Place in Toronto.

Between March 8th and 10th, Synergy will be located at booth #705 to discuss our fantastic merchant cash advance with visitors from all over the country in the restaurant and food services industries. We encourage you to come on by and pay us a visit.

The CRFA Show is an incredible trade show event that showcases workshops and live interactive demonstrations by some of the nation’s top chefs. Among the many great presentations, this year’s event will feature the first-ever “Cooking With The Stars” competition!

Hosted by Kevin Brauch of “The Thirsty Traveler” and “Iron Chef America: The Series”, this contest will give some lucky audience members the opportunity to work with one of four of Ontario’s top culinary experts: Roger Mooking, Jason Rosso, Giovanna Alonzi and Roberto Fracchioni. Paired with one of these talented chefs, the newly recruited assistant will prepare two different dishes using “black box” ingredients to be judged against the other teams!

“Cooking With The Stars” takes place on Sunday, March 8th and Monday, March 9th at 3:30pm on the Garland Stage.

Also, the CRFA Show will look to set a new Guinness World Record as TABASCO attempts to create the world’s largest virgin Caesar! In celebration of the 40th anniversary of Canada’s favourite cocktail, TABASCO Foodservice Canada will use a giant, custom clear-acrylic, 1500 pound glass to hold nearly 4000 litres of Ceasar cocktail!

In order to set the new world record, the virgin cocktail must include 45 litres of Tabasco, 57 liters of Lea & Perrins Worcestershire Sauce and 3891 litres of tomato clam cocktail!

The Guinness World Record attempt to create the world’s largest virgin Caesar takes place on Monday, March 9th at 5:00pm on the Mixology Stage.

With so many things to do and so many people to meet (not to mention all the food you can eat!), this year’s CRFA Show is bound to be an unforgettable event!