We have often discussed the many ways in which companies can work towards growing their businesses using our merchant cash advances as their sources of working capital. Expansion, renovations, buying new equipment and advertising are always popular choices and are among are biggest recommendations of what to do with their newfound money.
While all of these ideas are important ones, it is imperative for entrepreneurs to keep in mind that we are living in very modern times. And while one of our esteemed colleagues here at Synergy Merchant Services insisted that he loves nothing more than listening to his music on vinyl records, the majority of his co-workers just love bumping their favourite tunes on their mp3 players – a method that he insisted we write provides inferior sound quality.
The whole point, of course, is that in this day and age, most people enjoy easy and convenient access to all sorts of information and entertainment. The primary source to do so? The internet, of course. And if you don’t have your business well represented online, chances are that you are severely hurting your bottom line.
In an article by Julie Fortier, published by the Financial Post earlier this month, it was revealed that most consumers check out products and information online before walking into the store to pick up their items of choice. Retailers who are not considered “tech-savvy” therefore, run the risk of losing out on a potentially huge customer base.
According to a global-wide IBM survey of 28,0000 consumers that was released just a couple of weeks ago, an overwhelming majority of shoppers today use the internet to preview retailers before doing their shopping. The survey, which included a poll of 4,000 Canadians, revealed some staggering findings.
Fortier writes that “The study revealed 84 per cent want to use websites to access and print coupons, 75 per cent want to use mobile phones to find out where the nearest store is located and 72 per cent want to see what goods are in stock before going into the store.”
This definitive evidence insists that retailers make the most of their online marketing strategies. Providing as much pertinent information about products online as possible is clearly a key factor in succeeding in the marketplace in 2010 and beyond.
Following the release of the survey’s findings, John Dawkins, IBM’s Canadian retail sector lead had this to say: “Canadian retailers need more sophisticated analytics of product and customer segmentation at the household and individual level.The reality is most retailers have built a product-centric approach and have challenges when it comes to integrating constantly changing customer profiles though multiple touch points like call centres, kiosks, point of sale, employee interaction, and imobile.”
The survey revealed that businesses could increase their customer case by 54 per cent if they both improved the way they deliver their customized promotions and hired more knowledgeable sales associates.
Says Diane Brisebois, president and CEO of the Retail Council of Canada: “Building and maintaining customer loyalty is critical in the highly competitive retail market. Incorporating new technologies that enhance a customer’s shopping experience go a long way toward solidifying brand loyalty and increasing sales.”
We know that Valentine’s Day was about a month and a half ago. But we were kind of hoping that maybe we could still play “matchmaker” with you. That is, of course, if you are a Canadian business owner who accepts Visa, MasterCard and/or Interac transactions as methods of payment at your establishment, we’d like to get to know you better.
Earlier today, one of our esteemed staff members at Synergy Merchant Services compared our merchant cash advance quote to a blind date. When questioned about it, our team member made sense of the analogy by simply stating that each provided an opportunity where no commitment was necessary.
“Think about it,” he insisted while posing the following questions. Has anyone ever tried to hook you up with someone to go out with? What was your initial response? While some may meet this proposal with immediate refusal based on being skeptical of the unknown, others would at least as some probing questions.
The most popular question is generally: “Well, what does he or she look like?” For many, a simple glance at a picture would be all that was needed to convince them of going on at least one date with the person in question. For others, it may be all that was necessary to assure them that going on the date would be a bad idea.
Here at Synergy, the very least we would like to offer you is a look at our picture. And what we mean by that is taking the opportunity for your business to receive a free quote from one of our licensed funding specialists with no obligation. Once you get a picture of what we are offering, it is at that time that you can make the best decision possible for your company.
Our picture, by the way, is quite detailed. Based on a simple review of your monthly merchant statements that reflect your credit and debit sales volume, we will inform you of exactly how much money your company is approved for, exactly what the cash advance will cost you and exactly what percentage of your future transactions will be used to make repayments towards the cash advance.
We believe strongly, that by receiving this information, you will be able to properly weigh your options as it relates to securing extra working capital to grow your business. There is absolutely no obligation to participate in our program. So if, for whatever reason, you decide that you don’t like the “picture” we’re showing you, you don’t have to commit to anything.
We’re thrilled to inform you, however, that our “blind date” process has worked out quite well for us. We don’t want you to get the wrong idea about us or anything, but we have happily developed a great number of relationships with business owners across Canada who have come to find that the merchant cash advance is the quickest and easiest way to secure their much-needed funding. We hope you’ll give us a call soon.
No joking around, this coming Thursday is April Fool’s Day. And as we commented on last week, it is a time for pulling pranks. But not necessarily in the office place. In our “Office Pranks Are No Joke” blog, we revealed that surveys show a majority of office workers disapprove of having jokes pulled on them every first of April. According to a new survey, however, more than a third of office workers have found themselves pranked on the goofy annual celebration.
As QMI Agency reports on The Toronto Sun‘s website today, a poll conducted by CareerBuilder Canada has found that 42% of workers intend on pulling an April Fool’s Day joke in the office this coming Thursday. The survey revealed that “concerns about the economy and job security won’t dampen their enthusiasm as people need comic relief in tough times.”
Of those who took the survey, which was conducted this past November among 720 full-time employees, 29% admitted to having been instigators of April Fool’s Day jokes. Last week’s blog commented on the fact that pulling office pranks are not necessarily a bad thing. They must however, take into consideration what is deemed appropriate in the workplace. It is also imperative to consider who the prank is being pulled on so as to not cause harm or embarassment.
CareerBuilder Canada’s survey reported some of the most popular pranks that have taken place in office setting. They include moving an employee’s entire office, including desk, computer and wall posters into the bathroom, informing co-workers to put their chairs on their tables to allow pest controllers to set traps for rodents, putting an entire shaker of salt into the morning coffee, wrapping a cubicle in wrapping paper and placing goldfish in the water cooler.
The survey’s respondents, who kept themselves anonymous of course, also revealed a rather creative and interesting prank to pull on the boss. It involves “having an outside supplier approach a manager about hiring the entire department’s staff and having every member of staff call in sick at five minute intervals.”
Interestingly, it seems as of CareerBuilder Canada is already pulling an April Fool’s Day joke. As QMI Agency writes, “A spokesperson for CareerBuilder was not immediately available for comment on the survey and efforts to leave a message were thwarted by a faulty answering machine.”
Knowing Synergy’s Vice President of Marketing, John Meloche, chances are the big man may have some tricks up his sleeve for the staff this coming Thursday. Anyone who is willing to take a pie to the face for the enjoyment of his team, is bound to find some measure of revenge on the day when he can most easily get away with it.
So watch out this Thursday. Remember to have fun and keep your pranks light-hearted. It’s always a good idea to keep the work environment a fun place. However, letting things get out of hand will only make a fool out of you.
Calling all drivers. Let’s suppose that your car couldn’t start this morning. You’re not sure exactly what is wrong with it, but you know it’s going to need some repairs. So you call your local mechanic. He’s nice enough. You’ve taken your car into him before, so you figure he’s bound to help you out. So you ask him how much it will cost to have the car repaired.
What do you think his response will be? Chances are, he won’t have an answer for you just yet. Of course, he’ll need to inspect your car first. How else will he know what it will cost to repair? In order to know how much he will charge to fix your vehicle, he has to check out your car, assess the situation and then determine the type of work he will need to do.
Once he has done that, it is then that he can provide you with an estimate as to the cost of the repairs. Once you are provided with the estimate, it is then that you have the opportunity to decide whether or not you want to go ahead with the repairs, take the car to another mechanic or fix the car at all.
Consider your merchant cash advance quote as the exact same process. Each and every quote provided is unique. We determine the type of cash advance that we provide by a number of factors. Among them are how long the merchant has been in business, which company it processes their credit and debit transactions with and what its average monthly volume in credit and debit sales are.
To properly give a quote to a client, we must review his or her merchant statements that are provided on a monthly basis from the processor. These statements show the totals of their Visa, MasterCard and Interac transactions every month. Once these numbers are received, our licensed funding specialists are able to calculate a unique quote for the client. It is no different than taking a look under the hood of your car before giving you a price for fixing it.
Our quotes include three important pieces of information. The first is the total amount of money that the client is approved for. Even before the merchant statements are received, we know that we have the ability to provide up to 110% of the average monthly volume of credit and debit sales.
The second piece of info is the total amount of the repayment of the cash advance. There is no accruing interest rate affixed to our merchant cash advances. Instead, we charge a one time discount fee. This fee is represented by the difference between the amount offered and the amount that needs to be repaid. No matter how long it takes for the merchant to pay back the advance, the balance never gets higher.
Finally, our quote also entails a withholding percentage. This refers to the percentage of the client’s future credit and debit sales that will be withheld in order to repay the cash advance. Our clients never cut us a cheque. They never have to transfer a balance from their bank accounts. They literally only have to conduct business as usual and allow their customers to use their credit and debit cards to make payments in their establishments.
Call us for your quote today. Just remember, we won’t be able to quote you without seeing your car…er, merchant statements first. The quote is free and there is no obligation for you to take any money from us. We’re confident, however, that you will find that our merchant cash advance program is an ideal option to get your company the extra working capital it needs.
Here’s some news that is sure to make Synergy’s Vice President of Marketing, John Meloche really happy. Today The Toronto Star‘s business reporter, Madhavi Acharya-Tom Yew reports that the rising value of the loonie is making it easier for more Canadians to travel. John, who just loves vacationing in such spots as Jamaica and the Dominican Republic, is sure to take advantage of this tidbit of information.
We’re sure that many other Canadians will do the same. With the Canadian dollar becoming stronger and stronger, the ability for Canucks to go on awesome vacations is greater and greater. Not only that, but the type of vacation that one takes can become that much more luxurious.
According to managing director at the travel website Expedia.ca, Sean Shannon: “We’ve had really good numbers for trips to Europe. It has been steady, strong growth to a wide variety of markets across Europe. There are more four-star hotels being booked than three-star hotels. It’s a bit like winning the lottery. People feel wealthier so they want to treat themselves.”
Acharya-Tom Yew notes that the Canadian dollar is not only gaining ground on its American counterpart but over the past two years it has gone up by a record 50 per cent on the British pound and 14 per cent on the euro. Interestingly, while the value of the loonie continues to rise, the European currencies continue to suffer at the hands of growing debt, among other fiscal concerns.
Further proof that Canada’s economic recovery is blossoming ever so nicely lies in the increasing demand for Canadian commodities from such countries as India and China. Economists everywhere are remarking on Canada’s astounding ability to rebound from the recession.
Says Benjamin Tal, an economist at CIBC World Markets: “The fact that the Canadian dollar was able to gain ground in an environment of a rising American dollar, that’s impressive. It suggests there is much more to the Canadian dollar than just weakness elsewhere.”
Acharya-Tom Yew mentions that one of the the nation’s most impressive feats is the fact that Canadian banks did not require rescue packages after the “global credit meltdown”. The Canadian economy continues to emerge from the recession at a much more rapid pace than the United States. As well, Canada’s housing market is stronger and the jobless rate is lower than the U.S.
The bottom line for vacation seekers, of course, is that the Canadian dollar is now worth more abroad. The higher value of the loonie will allow travellers to spend less on trips throughout Europe and the U.K., for example. As Acharya-Tom Yew writes, the Canadian dollar matched against the euro, is now at its highest level since January 2006. The euro’s value currently sits at $1.40 Canadian, when it was $1.57 last summer.
That being said, it is likely that John won’t be the only Synergy staff member going on a trip this summer. And he most certainly won’t be the only Canadian.
Imagine, if you will, the following scenario. Perhaps it’s one that you are familiar with. You’re at home. You’re hungry. There’s nothing at all in the fridge or the cupboards to eat. So you figure it’d be a good idea to order out. When thinking of having a meal delivered straight to your doorstep, what is the first type of food that comes to mind?
For most people, it’s pizza. Our society is quite used to ordering pizza as a delivered-hot-to-your-home option for quick and easy-to-get food. As a result, pizza restaurants have no need to call customers to introduce the concept of pizza delivery. Most people have pizza store phone numbers memorized, so ordering up something to eat is an easy task.
But what if, in the same scenario, you decided that since there was no food in the house, it was necessary to get some groceries? What would you do then? For most people, the simple answer is to go the grocery store. This is generally the case even though there are businesses in existence who deliver groceries to your front door.
The concept of grocery delivery, of course, is not as popular as ordering pizza. Many find that they would be more comfortable going to the grocery store to choose their own produce, for example. The familiarity that comes with doing your own shopping encourages most people to not want to change that practice. The bottom line is that most people simply are not yet used to the grocery delivery concept.
Think of pizza delivery as the bank’s business loan. And consider that grocery delivery is Synergy’s merchant cash advance program. Both are viable options for business owners to attain extra working capital. However, one option just simply happens to be more popular than the other. It doesn’t necessarily make it the better option, it’s just the one that people are used to.
For the most part, there is nothing strange or abnormal about going to the bank to borrow money. It’s what people have been doing for years and years. The merchant cash advance concept, on the other hand, is one that is still relatively new for most business owners. As a result, some choose to go the traditional route simply because the familiarity associated with it brings about a sense of comfort.
The point, of course, is that the alternative option, albeit unfamiliar to most, is not necessarily a bad idea. For all we know, within the next decade, ordering groceries to your front door will be just as popular as ordering pizza. It is our firm belief that within the same amount of time, Canadian entrepreneurs will be better aquainted with the concept of the merchant cash advance.
We predict that there will be a time in the near future when we won’t need a call centre with reps calling business owners to introduce our program. We are confident that more and more business owners will be seeking the convenience of a merchant cash advance to put towards the growth of their businesses.
Our advice is to simply give our amazing staff the opportunity to introduce you to this alternative source of working capital. You may just find, that even though you are not yet familiar with this concept, our cash advance program is the ideal option for your company’s quest for working capital.
With the first of April just over a week away, many would-be pranksters are already conjuring up ideas about how to gag their friends, family members and co-workers. Of course, April 1st is known in many places throughout the world as “April Fool’s Day”. For some, it marks the day when people make complete fools of themselves!
This is especially true for employees of office jobs where certain types of behavior, although meant to be humorous and harmless, can be deemed inappropriate. The key, of course, is to have fun pulling your April Fool’s Day prank without getting yourself into any trouble with the boss.
Today, QMI Agency reported on The Toronto Sun’s website that research has shown that many office employees are displeased by the April Fool’s activities that have taken place at their places of work. According to the report, a recent survey by The Creative Group concluded that more than half of advertising and marketing executives consider pranks of any kind unsuitable for the office. 58% in fact, do not approve of April Fool’s Day jokes taking place at work.
33% of executives polled believe that pranks are “somewhat appropriate” while only 4% felt that it was “very appropriate”. The survey polled a total of 350 respondents, among them 200 marketing executives, 100 employees and 50 advertising executives.
Lara Dodo, the vice-president of The Creative Group’s Canadian operations offered this view point: “With many creative teams challenged with high workloads, office pranks may be viewed more as a distraction than an amusement.” Noting that not everyone knows how to take a joke, Dodo indicated that pranks can be hurtful to those who may get their feelings hurt, especially if the prank is deemed to be in bad taste.
Of course, this is not to insinuate that any type of joking around is bad at work. It is important to keep in mind the relationship you have with the co-worker you are pulling the prank on to ensure that he or she won’t be offended by the rib. Keeping the prank funny and without the intention of embarrassment or worse, injury, is extremely important.
In fact, prank-pulling and joke-telling can actually make for a more positive environment in the workplace. As we have often mentioned on this blog, a happy staff is a productive staff. When employees enjoy their time at work, it is certainly more likely to bring about greater accomplishments from employees.
Said Dodo: “Well-intentioned humour when shared amongst teams can create a positive work environment, especially when business is demanding. Some light-hearted wit can increase morale and motivation, resulting in improved productivity and retention.”
You have time Canada. April Fool’s Day is still over a week away. Plan wisely and keep your pranks fun and enjoyable for all those involved. Research some pranks online and make sure that if you are planning on fooling someone at work, that it doesn’t turn you into a fool without a job!
It’s true. Canada is slowly but surely pulling its way out of the recession. The national economy, in fact, is growing at a rate greater than most nations, making Canada a leader in the gaining of financial stability. That being said, it is not as if all Canadians are quite out of the woodworks yet. Many are still seeking jobs among other methods to save money and pay the bills.
Earlier this month, QMI Agency posted a list of ways in which Canadians and beat “Recession Depression” by citing advice from Consumer Reports. Of course, people still want to enjoy themselves, but doing so in a way that is mindful of their financial situations is key to surviving the post-recession blues.
When it comes to air travel, Consumer Reports recommends flying on a Tuesday or a Wednesday. Apparently, these days of the week offer the least expensive tickets for flights. Saturdays and Sundays are the worst days to book flights, according to Rick Seaney, the CEO of FareCompare.com. As well, don’t forget to check websites and newspapers for specials on hotel stays.
If travelling is outside of your budget and you’re looking to entertain yourself in the familiar and comfortable surroundings of your own city, there are still a number of ways to find cheap fun. (Behave!). If bowling is your thing, go early in the morning or after 9 p.m. for the best rates. For the cheapest golfing rates, be sure to tee off before 7 a.m. or after 4 p.m.
Now of course, you may need to drive around to get to your destinations for fun. For the best parking prices, seek out those city garages that offer better rates if you pull in before 8 a.m. Need to wash your car? “Go before 9 a.m. or sometimes after 9 p.m. for cheaper deals or buy cheaper washes when you fill up with 25 litres of gas at some stations,” says the QMI report.
Obviously, we all have to eat right? What’s the most cost-effective way to do so in the post-recession era? Farmer’s Markets, says Consumer Reports. Deals are often best at closing time since sellers rarely ever want to return back to the farm with inventory. For regular supermarkets, don’t forget to clip those coupons! For those dining out, look for restaurants that offer early-bird or even late-night specials.
Looking to relax and unwind? Many spas and salons offer discounted services before 3 or 4 p.m. Look out for specials and other offers from these establishments online or in the newspapers. What about the good old movie theatre? Some theatres offer cheaper tickets on Tuesdays. Into live theatre? Matinee performances and weekdays are usually less expensive that the weekend box office prices.
When it’s all said and done, it’s all about being creative. At the same time, actively seeking out deals and bargains is always time well spent. As both business owners and consumers alike, we are all used to searching for the best deals, even when it comes to our leisure time. It’s only fair that we have fun while saving money. Following a recession, every penny counts.
Regular readers of the Synergy Merchant Services Blog have come to know a little bit about our beloved Vice President of Marketing, John Meloche over the past couple of years. In those years, John has proposed to his beautiful girlfriend Kathryn, won yet another first prize at a Halloween costume contest, vacationed in Dominican Republic, bought a new car and celebrated his 30th birthday!
And even though one of his many duties as Synergy VP includes ruling the roost at Synergy’s headquarters, John evidently keeps busy having a lot of fun. This time around, we have video evidence to prove it!
Friday, March 19th, 2010 marks a monumental day in the history of Synergy Merchant Services. In case you haven’t press play on our attached video just yet, earlier today the ENTIRE Synergy staff gathered around to see Big John take not one, but TWO lemon meringue pies to the face!
You may be wondering what John did to deserve getting the never-to-be-forgotten pie facing. Well, today’s events proved once again that John is pretty much up for just about anything that seems like a good time, especially if it means keeping his staff happy. Owning up to a promised incentive for his sales staff, John allowed two members of the team to each hit him square in the face with a fresh pie!
You’ll notice that after some conspiring by Synergy team members, the second pie didn’t quite hit its mark. Instead a new, an even more hilarious target was nailed. We’re all pretty sure that as much as this event made John laugh hysterically, he’s pretty upset he didn’t get to chow down on that second pie. Notice how he opens wide on pie number one? We think that today’s pie facing may just have been an excuse for John to down some of his favourite sweet deserts.
Regardless, John has yet again invigorated his staff and has added to his ever-growing list of reasons to be considered the best office manager in the city of Toronto (dare we say, the world?). Our hats off to John for showing us all how to have a good time at work, reminding us that laughing at yourself and allowing others to laugh along with you is okay.
As if the 6 foot 7 Synergy VP wasn’t big enough, John proved today just how big of a man he is. Allowing several dozen camera phones to capture the action earlier today, John ensured that his moment as an office joke-to-tell-for-years was documented for the entire world to see.
Thanks to one of our esteemed staff members, we present to you the attached video – perhaps the best one taken today – to bring to you John Meloche in all his glory. We challenge any other office manager out there to provide as awesome an incentive to their staff members – and own up to it!
As John himself mentioned, today actually was one of the most productive days in the company’s history. Perhaps, John should offer his team the opportunity to hit him with more food items more often!
Thanks John. No one can ever say that you’re not a good sport. The entire staff appreciates your good natured humour and ability to keep the team on its toes. We hope you enjoyed the pie as much as we all enjoyed seeing it all over your face!
Earlier today in the Synergy Merchant Services offices, two of our team members were having a conversation about their grocery buying habits. Both individuals, who each live on their own, discovered that they each had vastly different methods of trying to save on their grocery bills.
One of them mentioned that she shopped about every two weeks spending approximately $70 per trip to the grocery store. Her counterpart indicated that he waited until he had next to no food at home before shopping and therefore only travelled to the supermarket every other month. His grocery bill usually hits the $300 mark.
A $70 grocery bill every two weeks comes to $280, remarked the gentleman who shops once every two months. “Not much of difference,” he said, “except that I inconvenience myself a lot less by shopping so rarely.” “But I’m spending less money than you are,” replied his female co-worker.
What method actually does save more money? Does it even make a difference? How can one truly save on groceries when food is an everyday necessity? Earlier this month, Sharon Aschaiek, in a special to QMI Agency, wrote about the many ways people can save money on grocery shopping in the wake of the recent recession.
Quoting budgeting expert, Amy Fontinelle, Aschaiek writes that there are some creative and common sense ways to stretch your dollar at the supermarket. The first key is to not be tricked by the alluring ways in which stores promote their food.
Says Fontinelle: “The recession has shown people new ways of looking at their finances and at the way they shop for things like food. People are more interested in spending wisely (however) chain grocery stores are designed to get you to spend as much as possible and to pick up things you were not planning to buy.”
Fontinelle notes that most often when something is on “special” at a corporate supermarket, it really isn’t a deal after all. Since these stores tend to price their items higher in order to cover their overhead and advertising costs, their regular prices may be higher than those at smaller chains or independent stores.
In addition to being “chain smart”, Fontinelle encourages shoppers to “explore alternatives”. Look into both independent and ethnic food markets that may offer more competitive food prices due to lower overhead costs. The most cost effective place to shop, however, is at farmers’ markets which provide food right from the source.
According to Fontinelle: “It’s a great way to save money, because there’s no middle man to make money on the transaction. Also, if you go in the last 30 minutes or hour before it closes, farmers might be eager to unload their stock, and you can get better deals.”
Fontinelle also recommends that you go “coupon crazy”. Making use of your money-saving coupons is important, especially since many forget to use them. She advises that you keep coupons in a kit that includes a number of food categories and bring it to the supermarket with you. Some people end up saving upwards of 50% on their grocery bills through coupons.
There certainly are a number of methods to making the most of your grocery money. Evidently, saving your much-needed cash has nothing to do with how often you shop but more importantly, where you shop and what you buy. Keep these tips in mind, and keep more of your money the next time you go to the grocery store.
Ever since Sidney Crosby scored that monumental golden goal in overtime to capture the gold medal in the 2010 Winter Olympics’ men’s hockey tournament, Canada has been abuzz with feelings of dominance over its neighbours to the south. In many ways, the Canadian dollar is currently battling it out with the American dollar in a similar feat of power.
As Stefania Moretti of QMI Agency reports today on The Toronto Sun‘s website, “the loonie continued its flight toward parity Wednesday hitting 99 cents US at one point pushed forward by solid commodity prices, a renewed low rate pledge south of the border and better-than-expected Canadian wholesale trade numbers.”
And while the Synergy Merchant Services Blog visited this topic last week, it keeps a close eye on the current Canada VS. The United States dollar battle, especially considering the impact that it will have on the nation’s economy. For many, the Canadian dollar winning this battle will mean greater difficulty in the nation being able to sell its exports.
Industry Minister Tony Clement reiterated these sentiments earlier today: “All of these things have a cumulative effect that we expect will more than overcome the fact of the high dollar…In the past, it’s been a challenge for companies in Canada because of the fact that they relied historically on the lower dollar to be their productivity and competitiveness edge.”
As Moretti writes: “Clements’s views echo a report released by the Conference Board of Canada earlier this week that said manufacturers in this country are increasingly flexible when it comes to currency fluctuations because there are more international hedging options available to them than ever before.”
Jack Spitz, the National Bank’s director of foreign exchange believes that Canada could overtake the lead in the currency war as early as this Friday. Said Spitz: “There’s little in the way of market events that can stop it.” The only question that remains, asserts Spitz, is how long the loonie will be able to maintain its stronghold over the American single.
The boost in value for the Canadian dollar comes at the hands of a number of factors. As has been reported recently, the national economy is growing at a quicker rate than anticipated. In January, the nation experienced its biggest increase in sales at the Canadian wholesale level in three years.
Based on reports from Statistics Canada, Moretti writes that “sales were up across all sectors and by an average of 3% to $44.4 billion during the month.” With the economy continually headed in the direction of growth and improvement, it only furthers the belief that the loonie will soon become dominant over the U.S. greenback in terms of value.
How this will inevitably affect the Canadian economy is yet to be determined. But many Canadians, still likely on an emotional high after the dominance shown by their countrymen at the 2010 Vancouver Olympics, are likely rooting for the loonie to gain a victory over the American dollar soon.
Much has been made lately of Canada’s attempt to climb out of the hole created by its financial downturn over the past year and change. With the economy looking towards recovery in recent months, the nation remains hopeful that it has seen the worst of the global recession come and go.
Today, Sharon Singleton of QMI Agency reports that this is exactly the case. With a spike in manufacturing sales and labour productivity, Canada’s economic recovery is better than expected at this time. Data released today also indicates that the Canadian dollar has reached a value of 98.57 cents U.S. As reported earlier this month, it is expected that the loonie will reach parity with its American counterpart and may even surpass it in value this summer.
The data released by Statistics Canada today shows that “manufacturing sales rose 2.4% in January to $44.6 billion, far exceeding forecasts for a 0.5% gain. Seventeen out of 21 industries saw sales increase, with primary metals, coal and petroleum leading the way.”
Meanwhile, labour productivity rose 1.4% in the fourth quarter marking its first rise since the third quarter of 2008 and its largest quarterly jump since the beginning of 1998. These numbers add strength to the notion that Canada’s economy is rebounding faster than any other country in the industrialized world. Of course, it has not yet returned to levels it saw before the recession. But Canada’s economic growth, as of late, has been promising.
According to TD Financial Group economist Grant Bishop: “Overall, the data on orders presents a good backbone for the months to come. Though, still 16% below their July 2008 peak, the return of Canadian manufacturing shipments to pre-recession levels is likely to be a multi-year story.”
British Columbia, Quebec and Ontario lead all Canadian provinces with reports of the highest manufacturing sales. As Singleton reports, “sales in B.C. jumped 4.2% mainly driven by primary metals and wood products. The positive economic data, coupled with higher commodity prices are pulling investors into the loonie, with many economists forecasting it will reach parity with its U.S. counterpart by summer.”
StatsCan did have other good news for Canadians to report as well. Businesses across the nation increased their productivity by 1.4% in the fourth quarter of 2009, finding their highest rate since the first quarter of 2002. Exports, consumer spending and residential investment helped to drive this number up.
In addition, Singleton reports that “hours worked remained unchanged after rising 0.3% in the third quarter. Employment edged up 0.1%, while hours worked per job fell by 0.1%.”
The economy is growing. More jobs are becoming available. And Canada is leading the world in its financial growth. As if there weren’t enough reasons to be proud being Canadian.
Most people would have never guessed that 25 years ago today, the first ever dot-com domain was registered on the internet. As QMI Agency reports today on TorontoSun.com, the Symbolics Computer Company launched Symbolics.com on March 15, 1985, sparking a mammoth worldwide explosion of websites over the next 25 years.
With SynergyMerchants.com being one of your favourite websites (of course), it is just one of over 200,000,000 websites that have been registered over the past two and a half decades.
Today, Aron Meystedt, whose Missouri-based XF.com Investment Company purchased Symbolics.com last year, wrote on the now blog-based website: “The Internet thrives as the world’s network for entertainment and business…Today, we celebrate the past 25 years of the .com and the radical changes it has brought to our lives.”
The WhoIs database reports that about 100,000 dot-com websites are registered every day. Interestingly, 86 million dot-com sites are currently active while 311 million of them have been launched and deleted over the past 25 years.
QMI’s report outlines the various celebrations that are being held to comemmorate today’s special landmark: “Symbolics.com has teamed up with VeriSign – the company that runs the dot-com domain name registry – to host year-long celebrations, including a policy impact forum in Washington, D.C., on March 16 featuring a keynote speech by former U.S. president Bill Clinton, and a gala in San Francisco on May 26, hosted by comedian Dana Carvey.”
Yet another dot-com website, 25yearsof.com, displays more information about these celebrations in addition to providing more of a detailed history about the original dot-com website.
The site also notes how popular and succuessful advertising on the internet has become since the inception of the dot-com domain. Remarking that it is “set to take over print advertising in the United States”, the website describes that according to a recent Outsell survey of over 1,000 U.S. advertisers, companies plan on spending nearly $120 billion on online and digital promotion this coming year.
This includes everything from search engine keywords to seminars on the web. Meanwhile, approximately $112 billion has been set aside for newspaper and magazine ads.
According to Chuck Richard, Vice President and Lead Analyst the Outsell research firm: “Advertisers are directing dollars toward the channels which generate the most qualified leads and most effective branding. As they emerge from the recession, they need more accountability, and they’re spreading their spending over a widening set of options.”
Statistics from The United Kingdom already indicate that they are spending more money on internet advertising than they are on television commercials. Evidently, as the dot-com era celebrates its 25th birthday today, the use of websites to market and promote will only continue to grow exponentially over the next 25 years.
If you were to walk into a bank today seeking out a business loan, it would be advised that you better come prepared. That is, prepared to put a lot on the line to secure your money.
Since our inception, Synergy Merchant Services has touted the concept of an alternative source of extra working capital that does not put the business owner at great risk. We offer a simple and convenient alternative to getting money for Canadian entrepreneurs. Of course, banks are traditionally known for only wanting to provide loans to businesses that are not necessarily in need of the money.
That way, the bank is at less risk of not having the money paid back. One of the things that is required of a business owner looking to get a loan is collateral. This essentially ensures that the owner is at risk, not the bank. If payments cannot be made, something of great value, be it the business itself or even the owner’s home could be up for grabs!
Imagine having to put your house on the line. It sounds like something someone would do on an over-the-top trip to Las Vegas! With Synergy’s merchant cash advance program, no collateral is necessary. Putting up your home or business is not something we would ever ask. We wouldn’t mind, however, if you invite us out for dinner after our money takes your company to greater heights!
A standard credit check is also a general requirement of a bank when it is considering lending money. This obviously is a question of one’s credibility. Does the bank believe – based on your history – that you are capable of making timely payments? Remember, you are borrowing their money. The money is never truly yours. Therefore, if your history doesn’t show that you are credible enough to make those payments, your loan is not likely to come your way.
Most business owners despise the idea of a credit check simply because it initiates a “knock” against their credit scores. Many can’t imagine why a harmless check of one’s credit history is regarded as a negative thing. Neither can we. Imagine having a police check done on your behalf to naturally find that you have never been in trouble with the law. Meanwhile, the check itself somehow has made you to be considered more likely to be a criminal. Doesn’t make sense, does it?
To be approved for a merchant cash advance, Synergy does not require a standard credit check. More specifically and more importantly to business owners, this means that one’s credit bureau rating is not affected. Keep in mind that when you are receiving a cash advance, you are not borrowing money. The money has been advanced to you based on your previous Visa, MasterCard and Interac transactions.
Essentially, we are forwarding you cash that we are aware you will be making eventually. You are simply paying the money back through your future credit and debit sales, so your “credibility” never really comes into question.
We understand that the majority of our potential clients are simply used to the concept of getting a business loan. To some, the merchant cash advance is still a foreign concept. It’s time, however, to try something new. Give yourself the benefit of opening your business to a new option. See if a merchant cash advance is right for you. No collateral, no credit check required.
Synergy Merchant Services is proud to announce that we are still continuing to add members to our illustrious team. If you are seeking a unique career opportunity and you live in the Greater Toronto Area, you may just want to give us a call to see if you would be a good fit for our growing staff.
In today’s Toronto Sun, QMI Agency’s Sharon Singleton points out that Synergy was not alone in the month of February in expanding its employee base. In fact, Statistics Canada reports that companies across Canada hired 21,000 people last month. Interestingly, the rate of employment grew expontentially for men aged 55 and over, whereas men between 25 and 54 as well as youths and older women saw no significant job growth.
According to HSBC economist Stewart Hall: “It illustrates that the baby-boomers aren’t babies any longer. It shows we have an ageing demographic that means the economy will need to evolve from working harder to working smarter.”
As a result, the employment rate has now dipped to 8.2%. Such figures have helped to add strength to the notion that Canada’s economy is, indeed, growing steadily. Singleton notes, however, that the future of the nation’s financial situation will depend on how companies cope with the aging population.
She writes: “As Canada’s population ages, studies have pointed to the fact the problem in the future many be too few people, not too few jobs. To make up the shortfall, the economy will need to boost productivity levels, economists say.”
Currently, the increase in job opportunities has come mainly from the public sector, which added 46,000 jobs. Job gains were also found in “the hospitality, natural resources, building and health care sectors,” says Singleton also noting that “accommodation and food services businesses took on 27,000 workers, while building and other support services hired 18,000.”
The goods and manufacturing sectors, on the other hand, continued to struggle with their employment remaining well below levels of just two years ago. Finance and insurance companies as well as retail and wholesale trade lost workers too.
British Columbia, Nova Scotia and Saskatchewan were the provinces that saw the largest rises in employment while Alberta saw a decline. The rest of the country experienced little to no change in employment rates.
As always, the hope is that the employment rates will continue to increase throughout Canada. And of course, Synergy will be doing its part to boost that statistic.
