There’s nothing like ending the work week off with a little good news, eh? As the Synergy Merchant Services Blog continues to keep a close eye on the financial landscape of our great nation, we are happy to report today that job opportunities are becoming more plentiful.

As one of our favourite writers from QMI Agency, Sharon Singleton reports today on The Toronto Sun‘s website, over 93,000 new jobs were created in the month of June sending Canada’s unemployment rate down to 7.9 per cent. Last month’s job growth was actually five times greater than what economists had expected.

As Singleton points out that this provides proof that Canada’s economy continues to get stronger in the post-recession era as the jobless rate is now below 8 per cent – a feat not accomplished since January 2009. Economists, expected for there to only be 18,000 new jobs in June. Good thing they were wrong!

The most significant thing about the spike in job opportunities last month is the fact that Canada has now recovered almost all of the jobs that were lost during the global financial crisis. In the United States, the unemployment rate continues to be stagnant.

In fact, Canada is easily outdoing its counterpart to the south by leaps and bounds in the job creation field. Singleton writes that according to TD Bank Financial and “adjusting for population, Canada has created four million jobs since July 2009 compared with 176,000 in the U.S.”

Said BMO Capital Markets economist, Benjamin Reitzes: “There’s no arguing with this strong report. The jobs picture clearly shows that the Canadian recovery hasn’t stalled yet, despite signs of slowing momentum in the U.S. and other economies.”

“The provinces of Ontario and Quebec accounted for nearly all the gains,” adds Singleton as the two provinces created 90,000 new jobs in June. Ironically, the controversial G8 and G20 Summits may have been responsible for the addition of so many new job positions in the region.

Singleton notes that the new jobs were split between full-time and part-time workers. The biggest increases were found in the retail, business, health care, service and automotive repair sectors, according to Statistics Canada. The only provinces to experience job declines were Newfoundland and Labrador and New Brunswick.

As we mentioned in yesterday’s blog, Toronto has been experiencing quite the scorcher recently. With today marking the fifth straight day that the city has been under a heatwave, the effects that it has had on the economy have become more noticeable.

As QMI Agency’s Sharon Singleton reports today, the extreme heat has significantly increased the demand for such items as fans, sunscreen, water, sports drinks, coolers, picnic-ware, sporting goods and of course, summer clothing. The weather, naturally, presents the perfect opportunity for retailers to cash in on their ‘cooling down products’.

Toronto isn’t the only city experiencing such warm weather in Southern Ontario, obviously. Temperatures in the high 30s on the Celcius thermometre were recorded in Ottawa and in some parts of Quebec, reports Singleton. Many states south of the border are feeling the heat as well.

All of these areas are realizing that beating the heat does come with a price. In addition to the variety of items that become more like necessities during the hot days of summer, natural gas prices also become more costly. With households cranking up the air conditioning and fans, electricity bills are sure to spike as well.

Singleton reports, however that Ontario is prepared for the increased demand for hydro. Apparently, the province is yet to hit record numbers thus far. Explains Singleton: “On Wednesday, demand topped 25,000 megawatts, compared with record demand of 27,005 megawatts on August 1, 2006. In more normal summer temperatures, demand runs at about 20,000.”

Added IESO communications advisor, Martina Holmsen: “This week we’ve had adequate supply to meet demand. In the past few years Ontario has been bringing more supply online and we are in a positive supply situation.”

So it doesn’t look as if we’ve hit the hottest temperatures of all time just yet, but the way things are looking, records may be broken in the coming days. We would like to remind everyone to do their best to beat the heat by keeping hydrated and not staying in the sun for too lengthy a time period this week.

In addition, we would also like to congratulate all of the small business owners how are prospering from the summer heat. We are sure there is nothing better for them than to have their sales heat up along with the weather.

Could it get any hotter in Toronto? The home of the Synergy Merchant Services headquarters has been experiencing quite the scorcher lately. With temperatures in their mid-30s, that feel like they are in their early 40s (Celcius, of course), the City of Toronto is definitely in the midst of yet another heatwave.

With that, we thought it would be the perfect opportunity to suggest to business owners from all over Canada that they start heating things up. In the past, we have thrown quite a few suggestions and tips the way of the Canadian entrepreneur. Our clients are very well aware of just how helpful these tips have been in getting their businesses to experience a new hot streak.

So what can you do to fire things up with your company? Many business owners have utilized our innovative merchant cash advance program to renovate their locations. We often hear, that a fresh start always brings about fresh interest. Perhaps, it’s time to repaint the walls, get new signage for the front of the store or even revamp your entire set up.

There are other ways in which you can turn up the heat on your competitors, of course. Many Synergy clients enjoy putting their cash advances towards new advertising campaigns. Do you operate your business in an area where a new flyering strategy may be appropriate? Is taking out ads in the newspaper or local magazine a more sound strategy? Maybe it’s even time for you to be heard on the radio!

It doesn’t stop there. One of our most excited clients is one who purchases new inventory each and every summer. Knowing that he will be able to get a good deal during the warmer months of the year on winter clothing, he always turns a fantastic profit once the weather cools down and everyone heads to his store to pick up their gear for the upcoming cold season.

This wouldn’t be the first time we’ve suggested this but it begs repeating. With such sunny and hot days taking place, it provides the opportune time for your company to host an outdoor event of some kind. Perhaps your merchant cash advance would best be spent on creating a contest of some kind that customers can enter when they visit your event.

A barbeque is always fun. Free food and prizes will be relatively small expenditures when compared to the large increase in your customer base that is a benefit to holding such events. Now, we know it’s hot outside, but there’s always time to heat things up even more.

So contact a licensed funding specialist at Synergy Merchant Services today. It’s the least you can do for your company. Discover just how much hotter your company can be through a simple and timely review of your monthly merchant statements. No collateral, no liens, no sweat!

Back in April, when the BP oil rip mishap caused the worst oil spill in American history, many became outraged at the irreparable harm that was being done to the environment. And even though we began blogging on this issue in early May, some Canadians still consider the issue a foreign concern.

Well, today Lesley Ciarula Taylor of The Toronto Star reports on just one of the many ways in which the horrific oil spill is affecting Canadians. Most specifically, a certain type of Canadian is experiencing some lasting negative effects at the hands of the thousands of barrels of oil being pumped into the Gulf of Mexico each day.

That Canadian would be the loon. The loon, which perhaps, is best known for adorning the face of the Canadian one dollar coin – thus, giving it the nickname “loonie” – is among the “up to 60 species of Canadian migratory birds that are in danger of being trapped in the toxic net of the Gulf of Mexico oil spill.”

Taylor reports that bird experts notice that dozens of Canadian bird species migrate to the south beginning in July. Sadly, this year that very migration has lead to the soiling (to put it mildly) of many of these birds, who all risk death, as a result.

In an interview with The Star, Ted Cheskey of Nature Canada said that “The Gulf is at the crossroads of the Americas for migrating birds. Several species are going to take huge hits. The reality is that birds seem not to be able to avoid it really well.”

In addition to loons, Taylor notes that “pelicans, ducks, geese, cormorants, gannets, herons and grebes are among the many species that could get sucked into the spill vortex during their migrations.” According to Greg Butcher, the director of bird conservation for the U.S. National Audubon Society, upwards of one billion birds may be affected by this tragic oil spill.

Canadians may be wondering what action, if any, may be taken by the United States to help wildlife who migrate from the north. Interestingly, Taylor reveals that there is a migratory bird treaty that exists between the North American nations. Therefore, the U.S. is responsible for helping the loons, and other birds that are affected by the oil spill.

Carrol Henderson, the non-game wildlife program supervisor of the Minnesota Department of Natural Resources reveals this, in addition to noting that the loon also happens to be the state bird of Minnesota. Helping these birds, are necessary, she mentions as birds see oil and water in the same way and are generally unable to tell the difference between the two.

Naturally, there are many who will fall victim to the polluted waters off the shores of Louisiana this summer.

As our blog reported on June 29th, extensive damage was caused by protesters and rioters to storefronts in the downtown Toronto area during the G20 Summit. Many of these small business owners are seeking compensation from the government to cover the numerous repairs that are necessary to get the businesses back up and running as normal.

Today, The Toronto Star‘s business reporter, Madhavi Acharya-Tom Yew reports that receiving compensation will not be an easy task. Although commercial businesses, non-profit organizations and individuals do have 90 days to apply for the compensation, accountants reveals that the claims will require extensive and detailed information.

Acharya-Tom Yew notes that “claims must include information on revenues and costs from the preceding three years, or the inception of the business.” Assembling all of this information, of course, is bound to take quite a bit of time for most business owners. For many, an accounting nightmare is ahead.

Said forensic accountant, Ari Kashton of Soberman LLP: “Ninety days sounds like a long time but it’s really a very short time frame. To assemble all this information takes time. Companies have to find the extra time and resources to file a properly supported claim when many are already stretched for resources.”

Acharya-Tom Yew goes on to reveal that supporting documentation will be required by those making claims in order to back up their estimates for damage. This may include everything from daily sales reports, tax filing and even bank or credit card statements.

Not only will documentation be required but written explanations will have to be submitted outlining such things as how much money the business could have earned had the G20 Summit not encouraged the destructive rioting. Other details include the steps that businesses may have taken to minimize damage during the summit, if any.

Explains Acharya-Tom Yew: “As well, they have to show that any lost sales were not subsequently recovered. For instance, a retailer that saw a slowdown in business prior to the summit could see a sharp spike in sales in July if customers simply delayed their purchases. That pattern would have to be taken into account when applying for compensation.”

Evidently, the damage done to storefronts in downtown Toronto is set to have long-lasting effects on the store owners. Recouping their losses will require a great deal of effort and time, not to mention hassle and inconvenience.

As we announced in yesterday’s blog, Harmonized Sales Tax has officially come into effect in both British Columbia and Ontario. Although many Ontarians have been vocal in their opposition of the new 13% tax which combines GST and PST, B.C. residents have been especially outspoken against the new tax.

Lobbying against the HST for months leading up to its inception, many groups are worried about the significant increase to the cost of living that will be thrust upon families. Even for some business owners, trying to calculate the new tax into the cost of their products has already become a nuisance.

As Kim Westad and David Karp report on The Vancouver Sun’s website, having HST take off on Canada Day was an annoying circumstance for a number of entrepreneurs in British Columbia. Hot dog stand owner, Fred Picard is one of them. Insisting that Canada Day is his busiest day of the year, Picard couldn’t be bothered to reconfigure his prices to include HST so he was forced to “eat” the tax for the day.

Before he even opened his stand yesterday, he had a line up of customers waiting. He wasn’t in the spirit of keeping them waiting any longer. His slogan for the day: “Today, you eat our dogs and we’ll eat the extra tax.”

Restaurant meals, remind Westad and Karp, are among the most popular expenditures that will be subject to the new HST. Previously, people were not taxed both the five per cent GST and the seven per cent PST in B.C. to dine out.

The writers also cite The Noodle Box general manager Sarah Wagstaff who said that she was forced to spend nearly a month preparing the chain’s two locations for the change to HST. The majority of her work involved manually changing prices on menu boards to incorporate the new tax.

In addition, the restaurant’s tills had to be reprogrammed. Needless to say, it was a cumbersome experience that Wagstaff is happy to now have over.

So far, however, tourism in B.C. has not been affected by the new Harmonized Sales Tax, as most visitors are not even aware of the change. Said Maryland native, Sabra Kurth: “It wouldn’t have made a difference to us — we wanted to see B.C.”

B.C. residents, however, are already feeling the pinch in their wallets. The ever-popular Tim Hortons coffee and donut chain has had its prices impacted by HST – something that many will notice in a quick period of time. Just ask Curtis Gregory who bought a large coffee yesterday morning for $1.70. That price would usually get him an extra large.

Said Gregory about the new HST: “They say it’s going to create more jobs and business, but it’s not going to because people aren’t going to be spending as much money out.”

Happy Canada Day everyone! Or is it? Today, in Ontario and British Columbia, the dreaded Harmonized Sales Tax officially took effect. As of midnight last night, HST became law in both provinces. As Antonella Artuso reports on The Toronto Sun‘s website, HST will now combine the former Provincial Sales Tax (PST) and Goods and Services Tax (GST), meaning that services and utilities that were previously exempt from provincial sales tax will be up 8 per cent starting today.

What a way to celebrate the nation’s birthday, eh? Of course, many people are worried about having the cost of living increase significantly. In an attempt to avert Ontarians from worry, the provincial government sent out mini-booklets in the mail last week to serve as information packages about the new HST.

In the booklet, it reminds citizens that they already pay 13 per cent tax on most items as GST was 5 per cent and PST was 8 per cent previously. On things that required no PST or GST – groceries, prescription drugs and public transit, as examples – there will still be no sales tax.

As well, products like books and children’s clothing will still only be taxed 5 per cent under HST. However, legal fees, gas and home heating will all be subject to an 8 per cent tax increase under the new Harmonized Sales Tax implementation.

Artuso reports that to assist citizens with this change, “the government has cut personal income taxes, mailed HST rebate cheques and ushered in a seniors property tax cut beginning Canada Day.”

Revenue Minister John Wilkinson attempts to explain the benefits of HST to Ontarians: “It will take some time for the tax cuts to work their way through the system…We have to stop in this province having two governments tripping over themselves trying to tax every transaction twice when once will do.”

Wilkinson also believes that HST will help repair the damage done to Ontario by the loss of a quarter million jobs in 2009. A more “efficient and competitive business environment” is expected to be an inevitable result of introducing HST in the province.

Artuso also mentions that “British Columbia is harmonizing its sales taxes on the same day, and the furious response from its citizens far outstrips any reaction in Ontario.” B.C. residents have significantly been more vocal about the changes to their taxes that start today. Apparently, they are not convinced that HST will create improvements of any kind. Instead, it will cost the average family a lot more money to live. Happy Canada Day indeed.