We know. Just a couple of days ago on the Synergy Merchant Services Blog, we insisted that we would do our best to try to look at “the bright side” of the economic crisis that has affected Canada over the past year. And, mark our words, we remain confident that for the most part, we will continue to seek out the positive in all bad news that comes our way. We may need your help on this one though.

Just when you thought the nation was on the road to recovery, today The Canadian Press reported that 2,600 Canadians lost their jobs in the month of December. This is especially disappointing considering that 79,000 jobs were gained just a month earlier. Even more upsetting is the fact that Synergy’s home province of Ontario “continued to be among the worst performers, with the jobless rate at 9.3 per cent”.

Quoted in The Toronto Star about this issue, United Steelworkers economist Erin Weir said: “With some signs of output beginning to recover but employment still flat, governments should be contemplating job-creation programs in preparing their upcoming budgets.”

Not surprisingly, there is early evidence that a full recovery from the recession will be a long and arduous process. Canadians are joined by the hope that the nation’s economic conditions will improve and that the employment rate will increase sooner than later. Prime Minister Stephen Harper apparently shares this sentiment as, in an interview with CBC-TV this week, he commented about wanting to see the unemployment rate return to approximately 6 per cent.

Perhaps the Prime Minister feels on the hook for the slow rise in Canada’s economy as the federal government has spent billions of dollars trying to combat the recession. Economists do not seem to be all that optimistic about recovery just yet.

Said Weir: “Given widespread layoffs and much higher unemployment, one suspects the ongoing surge in self-employment is mostly involuntary…Workers are struggling to generate income through self-employment since jobs are unavailable.”

The Canadian Press did, however, note that some economists are joining us in searching for that bright side as it relates to the nation’s financial position. According to the report, the Canadian economy did add 33,000 jobs over the course of the past three months.

Scotiabank’s Derek Holt believes that this trend will continue in the new year. As Holt wrote: “Jobs are poised to grow in 2010. As U.S. supply chains heal and start adding jobs, the trickle across the border into Canada will lead to job gains through seamlessly integrated cross-border production. Fiscal stimulus is also likely to begin raising Canadian and U.S. jobs.”

Excitement is in the air. And it smells delicious!

Synergy Merchant Services is both extremely excited and suddenly hungry. Today, we received word that we would once again have the honour of being an exhibitor for the third consecutive year at The CRFA Show at Toronto’s Direct Energy Centre.

It’s hard to believe that it has already been nearly a year since we last showcased our business at this event and met with so many incredible business owners in the restaurant and food services industries. Being one of the more than 30,000 members of the Canadian Restaurant and Foodservices Association certainly has its benefits!

What a blast we had! If you have never been to the annual CRFA Show, this needs to be the year you pay a visit to Canada’s largest foodservice and hospitality marketplace. Firstly, this amazing event takes place at the luxurious Direct Energy Centre on the grounds of the Exhibition Place in downtown Toronto. It’s an astounding facility.

Secondly, in a vibrant and aromatic atmosphere, The CRFA Show provides a huge showcase of some of the best tasting foods in the world. From restaurants to food suppliers to bars to cooking schools, there is a wide array of businesses looking to network with otherd all the while providing delectable free samples of their amazing dishes.

Thirdly, the event is very interactive. Complete with workshops, special presentations and seminars presented by celebrity chefs, The CRFA Show provides as many helpful tips as it does chances to network with industry professionals.

Needless to say, at last year’s event, numerous members of the Synergy Merchant Services team took great delight in sampling as many foodstuffs as possible. More importantly, however, our staff took the opportunity to begin hundreds of brand new relationships with business owners from all over the country.

As a recommended member of the CRFA, Synergy is very fortunate to have such opportunities as being able to meet with prospective clients and future business associates at this incredible event which serves as the world’s greatest meet-and-greet.

This year, Synergy Merchant Services will be located at Booth #1009. Be sure to pay us a visit and chat with one of our many great team members to learn more about our innovative merchant cash advance program and how it may be of service to your business.

This year’s show takes place between March 7th and 9th. The Direct Energy Centre will play host to this awesome event between the hours of 10:00am and 6:00pm on Sunday, March 7th and Monday, March 8th. On its final day, Tuesday, March 9th, the show runs from 10:00am to 4:00pm. Take it from us, this is a can’t-miss experience!

According to CRFA’s website: “The CRFA Show enhances your company profile and it will give your staff a great, cost-effective opportunity to network with new and existing customers… In 2009, the CRFA Show improved with strong industry support and attracted record attendance.”

For more information, visit www.crfa.ca. See you at the show!

In many ways, Synergy Merchant Services has made a New Year’s Resolution. In fact, we’ve actually made several. Some of our team members are trying to quit smoking while others are looking to upgrade to new homes. Many of our resolutions also, of course, have to do with staying steadfast in our commitment to continue assisting small to medium-sized Canadians businesses to grow with the help of our merchant cash advance program.

As far as our blog goes, however, we are looking to report on and discuss as much good news as possible in the wake of a year when the nation was hit hard by the recession. We will be doing our best to look at “the bright side” of each situation, if you will, as we have certainly had our fair share of bad financial news in 2009.

With the turn of the decade, Canadians now face new challenges. And while we look at “the bright side” and acknowledge that the worst is behind us, we recognize now that, as a nation, we will need to work together to continue to help the national economy grow. The Toronto Star, reports today that we will have to come to grips with the fact that economic growth will be slower than what we have experienced in the past..

The report was based on comments made at the 2010 Economic Outlook panel that took place earlier today. Attended by over 1,200 people, the business crowd came to hear predictions about the Canadian and American economies for the coming year.

Said Royal Bank of Canada economist Craig Alexander: “We’re going into a slower rate of growth. It’s not as much fun to grow at 2 or 2.5 per cent as to grow at 4 or 5 per cent.”

Based on such predictions, The Star surmised that a number of factors, while not expected to prevent, will hinder the process of an expanding economy. Among these factors are “an aging population, higher debt levels and reduced consumer demand”. This, says the paper, will result in “temperate” increases in employment, wages and stock market values as compared to those seen over the last decade.

BMO Capital Markets’ Sherry Cooper expects the U.S. economy to grow by 2.6 per cent in 2010 which would be an obvious improvement over the estimated contraction of 2.5 per cent in 2009.

Said Cooper: “We can argue the U.S. economy remains on life support. The recovery in the U.S. will be sub par and for many people it will be suspect because of higher unemployment rates.”

Canadians, however, are joining Synergy in looking for “the bright side”. According to The Star, a December poll of 4,283 people conducted by Pollara discovered that 54 per cent of Canadians expect for the nation’s economy to grow in 2010. 43 per cent of respondents expect employment to improve.

Here’s hoping the optimism continues and the bright side continues to get brighter for all Canadians in 2010.

We are just five days into a brand spanking new decade and Synergy Merchant Services is as excited as ever to move full throttle into continuing our mission to help strengthen the Canadian economy. For years, we have diligently worked towards providing small to medium-sized Canadian businesses with the necessary extra capital to help them grow.

This past year proved very difficult for many business owners and citizens alike as the recession caused a great blow to the economy. Major drops in sales as well as a declining work force seemed to spell the downfall of Canada’s financial system. However, as we reported yesterday, with the new year comes new hope. Canadians, it appears, are looking towards the future with greater optimism about the nation’s economic status.

Not only do Canadians seem to be feeling more positively about their financial futures but employers are showing more confidence in the hiring process this year. Last week, The Canadian Press reported on a recent survey conducted by internet job site, CareerBuilder.ca that polled 255 private-sector hiring officials between November 5th and 23rd, 2009.

The poll discovered that 29% of employers planned on hiring workers this year compared to just 9% who believed that they would be cutting staff. According to the report, “The results are in line with a survey of 688 manufacturers released Tuesday that also found a net positive on hiring intentions in the New Year.”

Canada’s labour market took a major blow over the past two years. Hundreds of thousands of jobs were lost all over the nation sending many Canadians spiraling towards debt and a sense of hopelessness. It appears as if, at the very least, some of that hope has been restored as the market has been stabilizing as of late.

And while The Canadian Press notes that the nation “still has much catching up to do”, Statistics Canada reported when 73,000 jobs were added this past November. It marked the most positive employment report in more than a year.

Proudly, Synergy has done its part in increasing Canada’s workforce as we currently are working within our largest team yet. With a great outlook for the new year and the many years to follow, we hope to encourage business owners all across Canada to do their part in ensuring our country’s financial status continues to strengthen.

Whether through the hiring of new staff or the growth of a business through investing in renovations, expansion or new inventory, Canadian business are in a position to look forward to securing greater profits and becoming more successful. This is a position, of course, that many thought would be impossible just a year ago.

Happy new year! And as Synergy Merchant Services brings in 2010 with upbeat optimism and best wishes for Canadian consumers and business owners alike, it appears as if the nation is already off to a good financial start.

Before the holiday season, there was a lot of talk about Canadians spending cautiously in order to combat the hardships brought upon by the recession of 2009. It was assumed that they would be spending significantly less on gifts although a Moneris survey that we blogged about before the new year proved otherwise.

Today, the QMI Agency reported in The Toronto Sun that “Canadians are starting 2010 off on a prudent financial note, with most paying off their holiday shopping bills and avoiding January sales”.

Previously, it appeared as though the biggest concern for Canadian shoppers was the accumulation of debt in the new year, due to the traditional increase of spending during the holidays – no matter how cautious the spending would be. However, according to the Royal Bank of Canada’s Canadian Consumer Outlook Index for December, 75% of Canadians plan on paying off their holiday spending avoiding the dreaded long process of escaping severe debt.

In addition, the report indicates that more than half of Canadians have no plan to search for post-holiday deals this month. As the QMI Agency suggests, there is less worry over the nation’s employment situation now than there has been over the past year. Says the report, “Job anxiety was down considerably from the bank’s last index by about 6% with only 21% of Canadians reporting one member of their household was worried about losing their job.”

British Columbia was the only province that showed no change where job anxiety was concerned. Interestingly, however, RBC found that just more than half of Canadians have a “good” impression about the health of the nation’s economy.

Says David McKay, head of Canadian Banking at RBC: “Canadians are becoming more optimistic but as this index shows, their focus remains on managing day-to-day expenses with many finding it hard to save for their retirement or their children’s education.”

The new year has certainly brought about a new sense of optimism throughout the nation. In fact, today’s report indicates that more Canadians are expecting their financial situations to improve over the course of the next three months.

RBC notes that the Canadian economy is expected to grow in 2010. With that, the optimism of Canadians should continue to experience growth as well. Happy new year, indeed.