With Canada continuing to lead the world in escaping the economic hardships left by the global recession, job seekers across the country are slowly finding it easier to regain employment. With one of the worst rates of job loss in Canadian history being a key ramification of the recession, it is rewarding to hear that the nation’s unemployment rate continues to dip.

Today, Kate Robertson of Investopedia.com writes that for the first time since January 2009, the unemployment rate is lower than 8%. According to Statistics Canada, 93,000 new jobs being created in June helped for the jobless rate to dip to 7.9%. These gains almost offset all of the employment losses that occurred as a result of the financial crisis beginning in the fall of 2008.

Robertson notes that, at present, Canadians have the best chance of finding employment in five key sectors. The first, she writes, is the retail and wholesale sector. There has been an increase of 69,000 workers in this trade over the past year. Last month, she reveals, 22,000 jobs were created in this sector.

The business and support services sector is also hiring. With 20,000 new positions created in June and 86,000 provided since January, this sector is steadily rising. In fact, a number of companies have added manager positions as well as administrative staff to their workforce.

As well, health care and social assistance is a sector that is also growing. 20,000 new jobs were added in June as our aging population is seeking health care at an increasing rate. Robertson writes that “the Canadian Nurses Association warns that there will be a shortage in health care professionals in the future” so they are working on attracting newcomers to the field.

“The automotive repair and personal care service sector also increased,” writes Robertson. 17,000 new jobs in that industry were added in June as a result of many people in the field retiring. Attracting young people, therefore, has become a top priority in this sector.

Finally, construction has added 11,000 jobs to its industry in the past month and is the fastest growing sector over the past year. Robertson notes that 94,000 new jobs have been added since July 2009. With the obvious growth in each of these five sectors, it would appear evident that Canada has successfully recovered from the recession.

Michael Atkinson, President of the Canadian Construction Association had this to say on the subject: “The much needed spending announced last year provided stimulus to the Canadian economy through investments in infrastructure, college infrastructure, green technology as well as incentives to help in retraining Canada’s unemployed.”

Wanting instant gratification is not all that uncommon. Who can blame someone for wanting whatever they want right away? Having to work for years in order to afford something can be a very tedious hardship. But, hey that’s life, right? We can’t all have what we want immediately.

This doesn’t seem to matter to most Canadians, however. According to a recent Bank of Montreal study, people in Canada prefer to spend their money on things that provide them with satisfaction right away. As QMI Agency’s Sharon Singleton reports today, cars and vacations are a lot more popular choices than putting away money for retirement.

She writes that the BMO poll focused on the reasoning behind why so many Canadians are not thinking seriously about saving for their retirement yeas. The field of research, known as “behavioural finance”, looks at that growing trend of people not following what is considered logical economic patterns.

The BMO study found that what people feel about saving and retiring and what they actually put into practice are two different things. According to the survey, 90 per cent of those polled said that they believe that saving for retirement should begin early. Meanwhile, 40 per cent of respondents admitted to not financially preparing themselves to leave the workforce.

In fact, over 80 per cent of those who were surveyed revealed that they are not saving for retirement as they are more concerned with satisfying their current needs. Tina Di Vito, who is the head of the BMO Retirement Institute, had this to say about the study’s findings: “We’re not practicing what we preach. We place a higher value on the immediate reward than putting aside rewards for the future.”

Singleton notes that this recent study is certainly not the first to show that Canadians are not saving enough money for their retirement years. BMO listed a number of factors as to why this is the case. The reasons are both psychological and behavioural.

Writes Singleton: “One factor was an over-abundance of information. When faced with too much choice, consumers tended not to choose at all, with more than one- third of respondents saying they were overwhelmed by the number of products on the market.”

BMO suggest taking small steps at a time when approaching retirement planning. Creating a strict budget to control spending as well as signing up for pension plans are other suggestions.

Added Di Vito: “You should set small objectives, rather than having aspirations looking out over a 20 to 30 year time horizon. That’s much more effective to get people to take on a plan and stick to it.”

You know the saying, right? Well, the title of our blog today is one that is usually met with great skepticism. As popular as the phrase is, most people would respond by saying that “nothing in life is free”. Of course, that too is another popular phrase. But which one is more accurate? We figure it all comes down to what you’re talking about.

At Synergy Merchant Services, we’re talking about providing Canadian business owners with a quote. And yes, that quote is indeed free. Here is how we look at it: If we are able to give an owner of a small to mid-sized business in Canada an opportunity to discover how much money he or she is eligible for, that same owner may find a use for it.

As we have mentioned in blogs past, many owners claim to not have any use for extra money when they first become aware of our unique merchant cash advance program. And time and time again, our licensed funding specialists discover that this apparent lack of foresight is really just disguised skepticism.

And we don’t blame these owners at all, to be very honest. Why wouldn’t they be skeptical? With the amount of stress and frustration that many of them have experienced in their dealings with banks, it is understandable that many of them feel as if attaining extra working capital is an unwanted hardship and sometimes an impossibility.

The truth is, though, that all business owners have ideas for how they would expand their businesses – that is, of course, if they could find a legitimate way to get their hands on some extra money. When Synergy says that our quotes are free, we really mean it. We greatly enjoy providing entrepreneurs with information that we know will be of great use to them – at no cost.

See, in order to attain a merchant cash advance, business owners need only to fax in copies of their monthly merchant statements that reflect their credit and debit sales. Once one of our licensed funding specialists reviews these statements, he or she will determine just how much money the owner is approved for and what the cost of the cash advance will be.

It is this information that we find is pertinent to owners across Canada, as it provides an accurate description of how much money they can get. In turn, business owners can develop legitimate ideas of how to put that money to use. If the owner is uninterested, on the other hand, they are placed under no obligation. And again, it literally will cost nothing for that person to get the information.

So perhaps, the best things in life are free, after all. Many of our clients started out by being skeptical at first. And, as always, we understand why. It is those who took the next step by receiving a free quote for a merchant cash advance, however, that found out just how quick and easy it can be to get that much-needed money to grow their businesses.

Over the past year or so, the global recession has become the most popular topic in financial news. And by popular, we don’t mean that people were fans of it. Of course, now that Canada and the United States are climbing their way out of the financial turmoil they were in not long ago, some investors are worried about a sudden return to economic peril.

Not to worry says a CIBC World Markets report. According to an article published by The Toronto Sun earlier today, the chances of these North American countries falling back into a recession are pretty low. The article notes that it is very rare for a “double dip” to occur. This refers to a time when recessions occur less than two years apart from each other.

Apparently, in the United States, this only took place once in history during the early 1980s. Even still, it is a natural concern for both investors and business owners alike to have. Not to mention, the thousands of North Americans who lost their jobs due to the recession likely still worry. All of the above are hoping the recession is far behind them.

Says CIBC chief economist Avery Shenfeld: “Certainly, there are reasons for concern. But there is still a base of ongoing support coming from healthy corporate profits and a wide-open tap on monetary stimulus. That has us projecting a sharp deceleration in U.S. growth, but not an outright recession, with a similar fate in store for Canada.”

The CIBC believes that there are a number of factors that point to the indication that no new recession will develop any time soon. They include the recovering of corporate profits as well as strong liquidity and tight corporate spreads. In addition, the continuous news about job growth, especially in Canada, appears to be a promising sign.

Unfortunately, the predictions aren’t all rosy. Chief economist and strategist at Gluskin Sheff & Associates, David Rosenberg believes that there is a 67% chance of a double dip at this point. Just a month ago, Rosenberg surmised that the chance of another recession was only 45% likely.

His factors for this speculation include the Economic Cycle Research Institute’s weekly leading economic index. The Toronto Sun article reveals that it has dropped to a level that is lower than the worst point of the recession of the early 1990s. In case this isn’t enough to send citizens back into a state of worry, Rosenberg does cite more evidence.

He believes that “a major drop in the price of industrial metals since mid-April, such as an 18% decline for aluminium and 13% for copper (may point) to a sharper slowdown than expected in the Chinese economy, which drives demand for such commodities.” Let’s hope that Rosenberg is wrong, and that we have all seen the last of the recession.

Ask just about anyone what he or she truly wants out of life, and you’ll get the same answer the majority of the time: happiness. What else is there if you are not happy, right? Many people chase happiness their whole lives and find great satisfaction in the thrill of the chase. It’s not always about money, they claim, it’s about pursuing a dream.

Of course, for many others, financial wealth is the key to happiness. And for those who may be a little bit more down to earth, good health is the key to a happy life. Whatever your primary source of happiness is, if you are an owner of a small business in Canada, chances are you are in a good mood right now. At least, this is what we have come to understand based on an article published today by QMI Agency’s Sharon Singleton.

According to Singleton, small business owners are among the happiest workers in all of Canada. She writes that approximately 62 per cent of small business owners are “very happy”. Only one per cent consider themselves to be “very unhappy”. This information is based on a recent TD Bank Financial Group poll.

The poll found that nearly 90 per cent of all Canadian small business owners feel they are happier than they would be if they were working for someone else. Interestingly, the highest rate of happy entrepreneurs, says the poll, can be found in Calgary, Alberta.

Writes Singleton: “Geographically, Calgary came out on top, with 30% of the business owners reporting they are “very happy.” Montreal came in second with 29% and Ottawa third with 26%.”

The TD Bank poll surveyed business owners who employ between five and 50 people across 12 cities in North America. It noted that in the U.S., small business owners are even happier than their Canadian counterparts. 69 per cent of American small business owners consider themselves to be “very happy”. Apparently, being your own boss and setting your own schedule are major factors in keeping a person pleased on the job.

According to Alec Morley, senior vice-president of small business banking at TD Bank: “Small business owners tell us that owning a business has many advantages, despite the day-to-day challenges that come with running a company like red tape, property taxes and attracting and retaining talent.”

We have mentioned, in previous blogs, that small businesses in Canada have the greatest impact on the national economy. Perhaps, that too, is a reason these entrepreneurs are so contented. They certainly have a lot to be proud of. The poll also found that happy business owners are more likely to keep running their businesses in five years when compared to those that are unhappy.

“The downside to owning a small business,” concludes Singleton, “may be the long hours involved. The majority of owners said they worked 50-hour weeks, with 19% saying they work as many as 59 hours and 38% saying they work 60 hours.”

It has been more than a year now since chip cards were introduced in the Canadian market as an enhancement to the regular credit and debit card. The new chip-embedded cards were implemented as a means to eliminate fraud. The idea was to have customers punch in a PIN code as opposed to signing a receipt slip so that potential thiefs and counterfeiters could not take advantage of lost or stolen cards.

The high rate of fraud, according to the banks, was a main culprit for such high interest rates on credit card accounts. QMI Agency’s Stefania Moretti reports today, however, that over a year after the new chip cards have come out, interest rates in Canada remain high. She writes that in Europe, where the new cards were introduced nearly ten years ago, credit card fraud has decreased up to 80%.

In Canada, the rollout of the chip cards is about complete, and credit card fraud has all but been elminated. However, the nation has not enjoyed the same drop in interest rates, according to Consumers’ Association of Canada president, Bruce Cran. Instead, the rates remain around 19% on average.

Said Cran: “(The chip cards) almost eliminated fraud, which was the main reason, according to the banks, that the credit card interest rates were so high…At the moment, there’s been no such reduction. I think consumers are entitled to see some sort of an advantage coming from all the inconveniences we had with putting up with the chip technology.”

Cran insists that responsibility to pay for the high fraud rates on cards used to be on the shoulders of the credit card users. The new chip cards were supposed to remove that responsibility. He believes strongly that the banks need to remove the burden from the customers, based on the much lower incidents of fraud.

“The deal, I think as consumers understood it, was that if we put up with all the other inconveniences that have come with the new chip card, such as standing in line and all the rest of it, that we would benefit from it,” said Cran, “At the moment there has been no sign of that. It seems the banks are very interested in hanging on to all that profit from themselves.”

Morretti reports that Amex, MasterCard and Visa lost upwards of $358 million due to fraud last year. This was down from $407 million in 2008. It is expected that these numbers will continue to drop this year as the impact of the new chip technology becomes more apparent.

Whether or not interest rates will soon see a decrease as well is anyone’s guess, at this point. At least Canada is not experiencing an increase in credit card fees like credit card holders in the United States. Down south, the chip technology has not yet been widely implemented.

The Synergy Merchant Services Blog has been in existence since January 2008. However, it was last year this month that this blog stepped it up and became a daily information source for all of our loyal online readers. Dedicated to providing the best in financial news, current event stories and business planning tips, this blog has become one of the most respected on the internet…at least, we’d like to think so.

We’d like to take this time out to thank all of you who continue to read our blogs. Of course, establishing a blog for your company website is a key ingredient in generating as much traffic as possible for your site. Especially when certain current event pieces are extremely popular, online users typing that topic into search engines are more likely to be directed towards your site if you’ve blogged about it.

The BP oilrig mishap that took place this past April, for example, was a hot topic in all of the news media. For both its impact on the environment and the business world, we decided that it was an important issue to focus on within a number of blogs we posted througout May. Needless to say, it remains a popular topic with our readers.

We do, of course, also like to keep our readers informed about the financial world with numerous tips and pieces of advice for those who own businesses. With the obvious targeted client base of small to mid-sized business owners in Canada, Synergy works to readily provide information that they can find helpful. Naturally, we recommmend that they take a look into the merchant cash advance program we offer.

It is important to keep your options open. And our blogs often communicate this message by advocating awareness about the options that are out there. Many news pieces over the past year have commented about the difficulty that business owners face when approaching banks to secure business loans. It makes sense for us to pass this information on to our potential clients through our blogs.

The G20 Summit that took place last month in Toronto was another hot topic that our blog touched upon. Having the Synergy headquarters in Toronto, we are very keen on keeping up with what is going on in our hometown. The very controversial summit was covered by news media everywhere, but we also decided to look at this event from a financial standpoint.

Of course, we are happy that our headquarters is not located in the downtown core as there are business owners who are still seeking compensation for the damage caused to their storefronts during the G20 Summit.

On a happier note, events like this month’s Caribana festival and just about everything going in our fun-loving Vice President John Meloche’s life remain popular topics on the Synergy Merchant Services Blog. With John’s wedding coming up in just over two months, we’re sure we’ll have a lot to report to you about.

We hope you’ve enjoyed the past year of our daily blogging and look forward to maintaining our dedication to keeping you informed and entertained on a regular basis.

Just in case you’re thinking that the title of today’s blog is a typo, you can think again. We know, of course, that it is always a good idea to “be on your Ps and Qs”, but in the case of Synergy’s merchant cash advance program, experiencing the two Qs is most important.

Those two Qs, in case you were wondering, refer to the simple two-step process we provide our clients in order to let them know how much money their businesses can get: Qualification and the Quote.

Unlike a bank, Synergy does not put clients through a long drawn-out process that insists upon getting collateral and liens. We also do not require a standard credit check as a bank would when seeing about approving a customer for a business loan. Instead, we first qualify our clients by asking a few simple questions.

The qualification process begins by discovering how many years the client has been in business. We require that a Canadian business owner who accepts Visa, MasterCard and/or Interac cards as methods of payment be in business for, at least, one year. That way, our licensed funding specialists are able to provide a free review of statements from the last year of business to determine the type of transactions the merchant makes on a monthly average.

This monthly average then helps to determine the amount of the cash advance that may be approved for the client. We also ask which merchant processor the client works with to accept credit and debit payments as his or her store. Synergy is partnered with a number of processors including Moneris, TD Merchants and Chase Paymentech.

These relationships allow for the repayment process to be virtually seamless as the payments are made automatically through each future credit and debit sale. Finally, we ask what the merchant’s average monthly volume is. We are looking for our clients to make a minimum of $5,000 in credit and debit sales monthly.

Once a client is qualified, we move him or her on to the second “Q” – the quote. We happily provide our customers with a free quote that entails three essential pieces of information. Firstly, we reveal the approved amount of the cash advance. Secondly, our funding specialists confirm the exact cost of taking the money.

Again, we differ from a bank in that we do not charge interest. Instead, there is a one time fee that is added to the advance amount and is simply paid back over time through future credit and debit sales. This brings us to the third important piece of info in the quote.

The quote reveals a “withholding percentage”. This way, our clients know exactly what percentage of their future credit and debit sales will be used to repay the advance. As always, there is no obligation to take the money. However, going through the quick and easy process of “the two Qs” is a step we believe that all Canadian business owners should try.

Everyone goes through ups and downs. We suppose it’s impossible to have one without the other. When people go through rough patches in their lives, it only becomes more difficult when they feel that they don’t have the support they need to get out of their situations. Those who have the support of family and friends generally find that their rough patches are fairly short periods of time.

Synergy Merchant Services has proudly represented the friend or family member, metaphorically speaking, in times of need for business owners all throughout Canada. As the nation continues to grow financially stronger following the recession, there are a number of individuals who are still having a rough go at making ends meet the way they used to before the global financial crisis.

As we have blogged about before, bank loans have become harder to come by than ever before. As a result, more Canadian entrepreneurs are seeking the comfort of the merchant cash advance to meet the needs of their businesses. Staying competitive in today’s marketplace, of course, requires that one does not just stay afloat, but works to get ahead. As many business owners have come to find out the hard way, going to your local bank doesn’t help much in the way of growing your company.

As Rebecca Shamrock of EzineArticles.com writes: “Times are bad for just about all Canadians and more and more people are having trouble just keeping up with their bills…If you think you will be able to walk into your local Canadian bank, the one you have been banking with for years, then think again! They are barely lending out money for mortgages, let alone personal loans.”

Being approved for a loan is especially difficult, continues Shamrock, for those who may have bad credit. One of the ways in which Synergy has managed to assist Canadian business owners is through ensuring that we offer an alternative source of extra working capital that does not show on a credit report.

Because the cash advance is a purchase of future credit and debit transactions and not a loan, one’s credit need not be affected when participating in our program. The first step is to speak to one of our licensed funding specialists about your options. They happily offer a free review of your merchant statements to help determine exactly how much money your business may be approved for.

Once you receive this information, you will also be informed about the cost of the cash advance and the method of repayment. This is one of the best parts about the program. No monthly payments are ever required. Instead, payments are made automatically through a merchant’s future credit and debit sales.

So if you’re in need of the type of support a friend or family member may generally give you, it may be the right time to call Synergy. Although we may not be able to cook for favourite meal or offer you a hug through the phone, we would like to see you take your business to the next level. We believe we can offer you the support you need to achieve your goals.

We, here at Synergy Merchant Services, don’t often take things for granted. It is important to our entire staff, that we maintain a sense of daily determination in order to remain successful in the marketplace. However, we do take for granted that when talking about the amount of dollars we can provide Canadian business owners, we can always refer to the “$” symbol to connote that dollar amount.

Of course, we all understand that the world famous dollar sign is synonymous to money, even though it does not represent the currency used by all nations. In the United Kingdom, the British pound is used, of course. Its symbol, “£” is also widely known as is the one for the Euro: “€”. As well, the Japanese yen is symbolized by “¥”.

Meanwhile, in India – the world’s most heavily populated nation – its currency, the rupee has always been without its own symbol. That is, until now. As QMI Agency’s Alan Parker reports today, this very interesting circumstance of a symbol-less currency officially ended last Thursday as India unveiled the rupee’s brand new symbol.

Evidently, not yet available on any keyboard, the new symbol is found in the picture attached to today’s blog. As Parker points out, with India being “one of the world’s strongest emerging economic powerhouses”, it is peculiar that the nation’s currency has gone without its own identifiable symbol for so long.

Until now, the Indian rupee was generally depicted by the three-letter code “INR”. And while some abbreviated the code to a simple “R”, this was evidently not enough to identify the rupee uniquely. As a result, the Indian government held a contest beginning on March 5, 2009 to choose a symbol for the rupee.

As Parker reports, over 3,000 designs were submitted and soon were cut down to a list of five. The winning symbol was designed by “D. Udaya Kumar, a 32-year-old graphic design and typographer who had just completed his PhD on Tamil typography at the Indian Institute of Technology (IIT) in Mumbai and is now at IIT Guwahati.”

He explains the symbol’s design as being a combination of the Devanagari “Ra” and the Roman capital “R” with two cross strikes at the top referencing the Indian flag. Parker notes that for his creation, Kumar was awarded 250,000 rupees, which converts to about $5,600 Canadian dollars.

It will take some time, however, for the rupee symbol to become universally available. Not all computers will be able to produce it without the proper font installed. As of today, Foradian Technologies is allowing for online users to download the “Rupee Foradian” for free. If your computer recognizes the rupee sign, you will be among the first people in the world to use it within your text.

In August of last year, we blogged about the enormous impact that Toronto’s annual Caribana Festival had on the city’s financial situation. Even during the recession, the event that celebrates Caribbean culture, brought upwards of 1.2 million people to Lakeshore Boulevard for the parade and nearly $350 million dollars into the city’s economy.

Well, Caribana is back! And for many Torontonians, it marks the most joyous occasion of the summer. Officially launching yesterday, Caribana is now in its 43rd year. As Brendan Kennedy of The Toronto Star reported after the launch, it is an event that many members of Toronto’s Caribbean community refuse to miss.

Christina McCollin is one of them, writes Kennedy. She “hasn’t missed a Caribana since she moved to Toronto from Trinidad in 1972 (as) the annual festival is a chance to go home without ever leaving the city.” In addition to showcasing the wonderful food and music of the West Indian islands, Caribana is also a competition amongst bands.

These bands work tirelessly for months creating the most elaborate costumes for their revellers to wear during the Caribana parade, which is set for July 31st this year. One of the band leaders, in fact, is very well known by sports fans.

NBA centre, Jamaal Magloire is a Toronto native as well as the leader of a band known as Toronto Revellers. Yesterday, McCollin – who plays with Magloire’s band – took part in the opening cermonies for Caribana at the kick-off at Yonge-Dundas Square. “I love it – all of it. Everything from home is here,” she said.

Toronto’s hot weather, as of late, goes just perfectly with the Caribana Festival. According to many Caribbean revellers, it provides a little taste of home. Said Nigel Joseph, head of Separate Tables caterers: “With this type of weather, you can really pretend you’re on the islands. Caribana’s about beautiful women, delicious food, great music – it’s what Toronto needs right now.”

Margaret Best is the MPP of the Scarborough-Guildwood community. Originally from Jamaica, Best sees Caribana as ““a gift to the people of Canada on its centennial.” Said Best: “Like an orchid transplanted from its native tropical roots, Caribana has taken root here in Ontario and it has certainly flourished. And it all began 43 years ago with the sound of a steel drum on a Toronto street.”

One of Caribana’s most popular events is the King and Queen Show which takes place at Lamport Stadium just two days before the parade. At this event, the illustrious costumes created by each of the bands will be in competition with each other to crown the king and queen of Caribana. For more information on this year’s festival, check out www.caribanafestival.com.

When the BP oil rig disaster took place in late April, it was estimated that the resulting oil spill may become the worst in United States history. The assumption was soon proved to be correct. Just as the mainstream media has kept up on this topic, so has the Synergy Merchant Services Blog. Always concerned about the environment and the disastrous effects events such as these have on it, we report, once again on some of the ramifications of this tragedy.

In past blogs, we commented on the fact that wildlife, most notably birds such as the loon, have been devastated by the oil spill. Evidently, the ecosystem in the Gulf of Mexico has taken quite a severe hit. On the financial side of things, QMI Agency’s Sharon Singleton reports today that tourism in Florida is also one of the oil spill’s biggest victims.

As a result, Singleton reveals that some of the biggest hotel chains in the world are now offering “beach guarantees” to lure visitors back to Florida, as well as the other Gulf States that are impacted by oil-filled waters. With tourism being Florida’s biggest industry, the economy is currently reeling from the fact that visitor numbers are down by 10 per cent.

So as millions of gallons of oil continues to be pumped into the sea, less and less money is being pumped into the local economy. Generally, tourism in Florida generates an annual revenue of $60 billion while employing one million people.

One of the major hotel chains offering the aforementioned guarantees is Marriott International. With 15 hotels in Florida, this chain is offering a full refund to customers prior to their arrival if beaches are officially closed because of oil. In addition, a 50 per cent room credit will be offered to those guests who choose to stay regardless of the poor beach conditions.

Including the Ritz-Carlton and the Renaissance chains, the Marriott brand hasn’t seen many cancellations thus far. They are, however, prepared to go the extra mile to satisfy their customers. Then again, most of their properties are on the west coast where beaches are not affected by the oil spill.

Nevertheless, with a decline in new bookings, the chain wants to ensure that customers are not being warded off by the current situation in the Gulf of Mexico. Marriott is not alone, however. Singleton also reports that Orbitz.com is also introducing an “open beach guarantee.”

This will offer visitors a refund on their standalone reservations if the government closes a beach within a 20-mile radius of their resorts. In addition, “Hilton Worldwide said visitors to their hotel chains in the region will also be offered the same guarantees. Guests can get a 100% refund on bookings if a beach is closed within a 20-minute drive, while early departure fees will also be waived.”

We, here at Synergy, often discuss the importance of working towards making more money. But what good is making money if it will inevitably be lost? Naturally, saving money is the key to building your finances. As one of our favourite business reporters, Madhavi Acharya-Tom Yew writes in yesterday’s edition of The Toronto Star, most Canadians (94% to be exact) say that they feel better when they have money put away.

The odd thing is, however, that a significant number of Canadians (one fifth, actually) haven’t put any money aside as a future safety net. This information was revealed through a Scotiabank survey that was published yesterday, according to Acharya-Tom Yew. It is a curious thing to know that so many people aren’t saving their money even when they acknowledge that doing so is necessary.

As Acharya-Tom Yew writes, finance experts agree that everyone should set aside an emergency fund. They surmise that adequate savings eqate to approximately three month’s worth of household expenses. Especially in the wake of the recent recession, job stability has decreased, giving Canadians all the more reason to put more money away for a rainy day.

Scotiabank’s survey discovered that only a quarter of respondents have set aside the recommended amount. A third of those who were surveyed, in fact, indicated that they have more than three month’s worth of expenses put aside, while 23 per cent have less than one month of expenses readily available to them.

Acharya-Tom Yew also indicates that “sixty-eight per cent of Canadians say they have a plan in place to achieve their savings goals. But nearly one-quarter, 23 per cent, say they like to live day-to-day and do not worry about saving money.”

According to Chris Hodgson, Scotiabank’s head of Canadian banking: “We’re really become a consumer society and we are encouraged to spend. Having the discipline to put aside part of your income for the future or saving for discretionary needs are not things we are necessarily guided to do. There’s an opportunity to raise a level of awareness on how Canadians can build more of a nest egg. To us, this is an issue for Canada.”

Broadcaster Valerie Pringle has been recruited by Scotiabank to travel across the country to speak to Canadians about the challenges of putting money aside. Says Pringle: “It’s like we’ve been living in a fool’s paradise of cheap money and buy, buy, buy, and our grandparents concept of saving to buy a refrigerator sounds like something from the dark ages.”

The Scotiabank survey was conducted online in late March. It also discovered that 72 per cent of Canadians believe that saving an extra $1,500 would improve their financial status. 83 per cent feel like they will change their spending habits to save more money. Finally, 20 per cent would make large changes while 63 per cent would make small ones.

Since our inception, Synergy Merchant Services has very proudly supported Canadian businesses by providing them with an alternative source of extra working capital. Especially in the wake of last year’s global recession, we are especially happy that we are able to supply entrepreneurs with money to help them grow their businesses when banks do not.

In the post-recession era, Canadian small businesses have lead the way in helping the nation become one of the best in the world in economic recovery. As these businesses continue to grow, Synergy continues to support them with our innovative merchant cash advance program. Of course, savvy business owners play huge roles in the successess of their businesses.

Today, Bryn Weese of the Parliamentary Bureau reports that Canadian businesses are maintaining their growth with the news that sales are projected to increase in the coming year. According to the Bank of Canada’s summer Business Outlook Survey, business owners are indicating that sales have spiked over the past year.

This marks the first increase in sales since the recession took over in 2008. Clearly good news for entrepreneurs from all over the country, this information is a welcome sign of relief to an economy that suffered significant job losses over the past couple of years. Hopefully, the jump in sales will continue to push the employment rate up.

As Weese reveals, the survey was released Monday and was conducted between May and June. It questioned managers at 100 firms across Canada about both sales and employment figures. They are each expected to increase although the growth may potentially be “slightly slower than previously projected because of global ‘uncertainties’.”

Said the report: “The results of the summer survey indicate that the economic recovery is progressing. For the first time in two years, firms, on balance, reported an improvement in their past sales activity.”

Added Louis Gagnon, an associate professor of finance at Queen’s University: “There’s been a sense over the past few months that things were picking up. But, is this seeming recovery going to persist? Does it have any legs to stand on? It (the survey) is certainly an indication that the Canadian economy is on a much more positive path.”

Of course, there is no guarantee that the economy will be as strong as it was in years past in the very near future. However, the news that things are improving is quite promising. As Gagnon reminds us, Canadian businesses are “on the front line when it comes to the economy, and are a ‘leading indicator’ of its recovery.”

It’s Monday. Time to get back to work. Many people look forward to the new work week while many others dread the first day after the weekend. For the most part, those who hate Mondays insist that the weekend “just wasn’t long enough”. In today’s fast-paced society, it is not uncommon for people to feel as if there just isn’t enough time in the day.

In order for workers to truly appreciate both their jobs and their personal lives, they need to set aside adequate time for both. This is difficult for many individuals who feel that work consumes their lives. In today’s edition of the Toronto Metro, an article discussed how better ‘synergy’ is possible through following five simple tips. We’d like to share them with you.

Firstly, “slow down” says the article from the city’s free daily newspaper. It advises people to enjoy both the things and people around you. In order to so, sometimes it is important to plan downtime into your week in order to distance yourself from the various things that may be causing you stress.

Learning how to streamline your schedules with the help of technology is another important tip offered by the paper. It reads: “Tools like Microsoft Office Outlook 2010 let you link each member of your family’s calendar allowing you to see what everyone’s got going on so you can plan accordingly.”

“Protect your personal time,” it continues. Sometimes people need to learn when to simply shut down. In this day and age, it appears as if people are always on their cellphones either talking or texting. Many conversations get interrupted by several others coming through these wireless devices that can really tie a person up.

The Metro article encourages people to turn their cellphones off to establish boundaries between their personal and professional times. That way, it will be easier to determine what time is devoted to what part of your life. Many people complain that even when they return home from work, that they are still thinking about life in the office.

“Share the load,” the article reminds us. You don’t always have to do everything yourself. Perhaps, getting help from your loved ones will be an excellent way to complete tasks while sharing time with the family. This also helps to build a sense of responsibility within children. Everyone should be able to share in the household duties.

Finally, learn to say “no”. According to the article: “Taking on too many tasks can be stressful and overwhelming. Learn to say no to things when there’s too much on your plate. This applies to both work and personal commitments.”