Clothing stores, for example, are already stocking up for the back-to-school rush. In fact, school clothing and accessories have been available in such shops for most of the summer. Many of our clients in this industry tell us that they have put their cash advances towards the purchase of this type of inventory.

It makes sense, obviously, to buy inventory when it is at its cheapest. This is regularly the case when the items are not in high demand. Naturally, winter jackets do not sell in the summer time. Therefore, a clothing store and winter gear supplier that purchases winter jackets in the summer is making a smart move.

So when winter rolls around, that store is ready to be fully stocked with season-ready clothing that was purchased at a reasonable price. The mark-up means that the profits will be greater making the investment to buy the inventory early was a wise one. This type of forward-thinking is not exclusive to clothing stores, of course.

With the fall season soon upon us, it is time for you start thinking – if you haven’t already – on what you will be doing to make sure that your store remains competitive in the coming months. If you have all the inventory you need, perhaps considering a new advertising campaign to bring more business into your store is in order.

What sales can you offer your customers so that they are more likely to want to come into your establishment? What is going to set you apart from your competitors this fall? Why will consumers want to spend their money at your store instead of the others? These are the questions that business owners everywhere should be asking themselves.

With a merchant cash advance, the answers to these questions come so much easier. Many entrepreneurs find it hard to determine just what their next moves are because they don’t have the extra working capital to put their plans into action. With more money available, taking their companies to the next level becomes more achievable.

Put your plans into action. Check into getting a cash advance to give yourself a better opportunity to seeing those plans through. It’s as simple as getting a free quote from one of our funding specialists. We invite you to join the many other business owners who are preparing for this upcoming season by fulfilling their plans to make more money.

Now, this is something that we have been communicating to business owners all over the country for the past few years, and yet many have still not heard about this type of funding for businesses. And we completely understand that. Still in its “toddler stages” if you will, the concept of the merchant cash advance is foreign to most Canadians.

That being said, our staff is fully aware that many business owners are skeptical when first hearing about our program. This is why our team works diligently to break down that “wall of skepticism”. The Synergy Merchant Services staff is highly trained to attentively listen to the concerns of our potential clients in an effort to quell any fears that they may have about the many “scams” that are out there.

Rest assured, we did not become “Canada’s Merchant Funding Company” by scamming anybody. In fact, we take great pride in being the nation’s leader in supplying entrepreneurs with the working capital they need to take their companies to the top of their respective industries. We ask that you give us the opportunity to speak to you so that we may answer some of the questions you may have about our program.

For most who first hear about it, they become immediately skeptical about the fact that there is “no interest rate” affixed to our cash advance. While this is absolutely true, by no means are we saying that we give out free money! Now, that would be nice, wouldn’t it?

Of course, there is a charge for the cash advance that is known as our “discount fee”. This is simply a one-time cost for the cash advance that represents the amount a merchant must add to the cash advance he or she receives when paying it back.

Some owners are also skeptical about the idea that there is “no fixed repayment schedule”. This too, is true. Now, this is not to insinuate that a merchant can take his or her sweet time and repay the advance whenever it is convenient. The way in which we get paid back is one of the most beneficial aspects of the program.

We literally only receive a payment when the merchant makes a sale. Through a seamless automated process, Synergy receives payments towards the cash advance by withholding a small percentage of the credit and debit transactions that go through a merchant’s terminal. It’s known simply as a “withholding perecentage”. If no sale is made, no payment is made. It’s that simple.

For most, of course, it isn’t that simple at all. And again, we completely recognize that many business owners may have reservations about becoming involved with this foreign concept. This is why we introduce our program by offering an absolutely free review of a merchant’s credit and debit card summaries in order to provide information on exactly how much money your company would be approved for and what it may cost.

There is no obligation at all to take the cash advance. We simply ask for the opportunity to break down the wall of skepticism that you may have. We’re confident that you will be happy with what you see on the other side.

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

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

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

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

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

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

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

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

Writes Julian Beltrame of The Canadian Press: “In one of the gloomier reports in months, the central bank’s governing council declared that a strong loonie would threaten Canada’s economic recovery, saying its recent rise had already more than offset all the encouraging indicators seen over the summer months.”

Beltrame notes that the bank's belief that the strength in the Canadian dollar may lead to slower growth of the nation's economy has forced it to keep its interest rate at the all-time low of 0.25 per cent. It has been at this rate since spring time.

As of Beltrame's report today, the Canadian dollar stood at 95.35 cents, down 1.8 cents from yesterday. He reveals that economists see this as no surprise considering the expectation of the Bank of Canada to follow Australia's lead in increasing interest rates.

At this point, the bank predicts that the national economy will decrease by 2.4 per cent this year as opposed to the 2.3 per cent forecast a month ago. With no sign of inflation in the near future, it looks as if the Bank of Canada's govenor Mark Carney will maintain the bank's 0.25 per cent interest rate until July 2010.

Says CIBC chief economist Avery Shenfeld: “The delay in returning back to its target rate on inflation would allow a longer period of keeping rates on hold. Financial markets tend to get edgy sitting still, but Carney is a man in no hurry to act.”

Last month, the bank was under the impression that the nation's economic recovery was so promising that it forecast a 1.3 per cent gross domestic product growth in the third quarter and a 3 per cent growth in the fourth. This was at a time, however, that the Canadian dollar was predicted to average 87 cents US through next year.

This month, Carney sees the loonie as a force that will slow down future growth. Before today's drop-off, the loonie was about 10 cents US above the value projected by the bank. It was expected to hit parity and greater by the end of the year.

However, even with both 2009 and the recession not yet being over, it still appears as if now is the best time for starting up a small business. At least that is the case, according to Philip Demont in an article posted today on CBC News' website.

Says Don Bradley III, the executive director and professor of marketing at the Small Business Advancement National Center at the University of Central Arkansas, in Conway, Arkansas: “I think it's the greatest time we've ever had for small companies…A lot of these (business owners) are engaged in a bit of self-pity. They need to start looking around at what people want.”

Believing that the development of new communications services and technologies will allow start-up companies the ability to “carve our their niche”, Bradley insists that new businesses can take advantage of the economy's impending improvement.

Unlike bigger corporations, small businesses tend to sell to a small geographic area and are not generally required to export goods to other countries. As a result, notes Demont, disposable incomes and household net worth are more important factors than gross domestic product or GDP, which is usually the key signifier of economic success.

Demont goes on to reveal that both Canada's household incomes and personal disposable incomes increased in the first half of 2009. The increase is seen as especially significant in comparison to that of the United States. As well, the Canadian economy is expected to experience a growth in the latter half of this year, according to BMO.

“In addition, BMO believes that Canadians' real disposable income will grow 1.1 per cent in the third quarter and 1.0 per cent in the fourth quarter. Some of that economic improvement is already being reflected in how small businesses view the upcoming year,” writes Demont.

Good news is starting to filter through the bad with a bit more consistency as of late. With the economy beginning to strengthen, perhaps now is as good a time as any to begin your small business.

And while we feel that this is especially true for the many business owners across Canada who participate in our merchant cash advance program, it is also true for our dedicated staff as well. At Synergy, we believe highly in having our team work in a friendly and energetic environment. Of course, everyone shows up to work for a paycheque. Again, who doesn't want to be paid for their work?

But, at Synergy, we recognize that compensation is only the tip of the iceberg when it comes to keeping our employees satisfied. It is important to get to know what motivates our team to show up to the office every morning. We feel that we have developed a culture at Synergy that promotes teamwork, passion and believe it or not, fun!

According to Mike Lee of AutoInc. – the official magazine of the Automotive Service Association (ASA) – money is not the only thing that employees are after. “Good people are also looking for a group to be part of,” says Lee in his 2001 article entitled “Keeping Employees Happy”. “They want to know that their work is contributing to something of importance. Many people also want stability; a well-organized, high-morale working environment and growth potential.”

Acknowledgement seems to be a key factor in maintaining an employee's happiness. No matter what field of work one is in, many of us have had experiences with being reprimanded for something that was done incorrectly. But what about all of those times you did something great?

Even something as simple as a “job well done” or some other small form of appreciation can help to maintain a positive vibe throughout the workplace on a permanent basis.

Lee offers a suggestion for how companies can accomplish this: “Make sure you have a system for tracking and monitoring production, and graph and post these statistics weekly. Your best employees will feel acknowledged and, hopefully, the worst will feel the need to improve.”

Providing customers with the best possible value begins with making your employees feel valued themselves. As Synergy continues to work towards helping businesses throughout Canada prosper and gain greater success, we remain aware that our most important clients are ourselves.

It was reported earlier today that consumer confidence has increased this month, marking the seventh consecutive month that this statistic has risen. This marks the longest streak since 2002. According to business reporter, Madhavi Acharya-Tom Yew, the board's survey found that consumer confidence has risen 2.5 points to 90.9 per cent.

In their own report, The Canadian Press noted that the percentage of consumers who felt that it was a good time to make a major purchase rose to 49.9 per cent – the highest level in nearly two years. 40.1 per cent of respondents felt that it was not.

Although the Conference Board admits that negative responses to such surveys still outweigh the positive ones, it was still found that the number of people who feel that they are better off financially now than they were six months ago has also increased by 1.3 points to 13.7 per cent.

Interestingly though, Acharya-Tom Yew notes that there was a 0.8 per cent decline to 27.5 per cent in the number of respondents who felt that their families would be better off financially six months from now.

Most of the people surveyed, 53.9 per cent, replied that they expect no change in their financial situation over the course of the next six months.

Acharya-Tom Yew notes that the survey indicates that Canadians are feeling more optimistic about the employment situation in the county. 72.8 per cent of respondents anticipate that there will, at least, be as many jobs as there are now in six months.

The survey of 2,000 Canadians, conducted in the first two weeks of September indicates that the country is either seeing better days financially or at least, really wants to.

In her report, Owram notes that some of Canada's major retailers are seeing an increase in sales during this second half of the year. For many of these companies, promotions, lower price points and rewards programs seem to be doing the trick by luring customers into their stores more often.

Owram interviews Jurgen Schreiber , the president and CEO of Shoppers Drug Mart Corp., who remarks that the company's Optimum rewards program allows for customers who are price-conscious to take advantage of further savings during Canada's financial crisis. Shoppers Drug Mart reports that the number of active Optimum cardholders has increased by two million over the past two years to 9.7 million.

In a country inhabiting a little over 30 million people, Shoppers can certainly brag to have a very high membership of their Optimum program. They report that 65% of in-store transactions are currently accompanied by use of the Optimum card. As well, statistics reveal that Optimum members have increased their spending at Shoppers three times greater than that of non-Optimum members between 2004 and 2009.

Says Schreiber: “Whenever you capture your consumer, you have to make sure they’re in and they buy as much as they can. It’s very simplistic, but that’s the way we structure our flyer.”

Martin Schwartz, chief executive of Dorel Industries, also reports that his company has been prosperous throughout the recession. Makers of such goods as bicycles, home furniture and child car seats, Dorel claims that it owes its success to having appropriate price points during the time of an economic downturn.

Says Schwartz: “Retailers are focusing more on what we term opening- to mid-price points as shoppers of every description are gravitating to the big-box outlets.You’ll see quite a variety of demographics in a Wal-Mart these days, many I’m sure who rarely ever shopped there before. We excel in these price-point categories with the majority of our sales in this area.”

Clearly, it is still possible to not only survive but “beat” the recession. With more stories of prosperity among Canadian businesses seeing the light, perhaps signs of the end of the recession are truly getting brighter.

For over 35 years, CFIB has represented small and medium-sized Canadian businesses becoming world renown for the high quality of their research and economic analysis.

In keeping with this trend, earlier today, CFIB released a report declaring that the 2007 City of Toronto Act that granted the city the power to tax and regulate smaller businesses has done a “disservice to small and medium-sized businesses” across Toronto.

As reported by 680News, CFIB's study found that in terms of economic growth, 74 per cent of respondents to a survey feel that the City of Toronto Act has done the opposite of its supposed intention. Toronto, as a result of the Act, has not become a better place to do business. 83 per cent of respondents believe that the Act has neither encouraged the creation of new jobs nor helped to attract investors to the city.

It is uncertain, at this point, what measures CFIB may intend to take in order to repair the apparent damage that the City of Toronto Act is having on small and medium-sized businesses in the city. Being a member of CFIB, Synergy Merchant Services has enjoyed the benefits of knowing that we are being fought for in times of necessity, such as this one.

CFIB's excellent reputation keeps us confident that they will work to undo some of the hardships incurred by the City of Toronto Act.

As their website affirms, “We are determined to strengthen the democratic system, promote free enterprise, and prevent abuse of power by government agencies, public service monopolies, corporate giants and trade unions. Our actions in the areas of tax, labour laws and public sector spending have brought real dollars-and-cents benefits to our members, helping them prosper.”

For more information about the Canadian Federation of Independent Business, visit them at their website: www.cfib.ca.

Perhaps, with the purchases of so many new vehicles, less Canadians are need of getting their cars repaired. According to Kristine Owram of The Canadian Press, “Canadian car and truck owners are spending less on maintenance and repairs than they did in 2008.”

In an interesting twist, a study conducted by consumer survey firm J.D. Power and Associates found that “average annual expenditures on vehicle maintenance and repairs shrunk to $856 in 2009 from $920 in 2008 — a decline of 7%.”

Regarding these findings as an example of further “consumer belt-tightening”, Owram conveys that the automotive industry is still experiencing the effects of the recession. She goes on to reveal that the survey also concluded that 28% of costumers admit to locating the “cheapest place” for service for their cars. This is a 6% increase from a survey conducted in last year.

Darren Slind, senior director and Canadian automotive practice leader at J.D. Power was quoted as saying, “In a difficult economy, vehicle owners seem to be delaying what they perceive to be non-essential maintenance or seeking out the lowest-cost option…In the long run, this may prove more costly in terms of vehicle reliability, but in the short term, consumers are dealing with other spending priorities.”

Interestingly, Slind also comments about the decline of new vehicle sales, adding a damper to previous reports of growth in Canadian auto sales. Sales, in fact, are down 16%, according to Slind.

In addition, the J.D. Power survey discovered that consumers are coming to rely more on independent mechanics and autobody shops for maintenance work as opposed to the generally more expensive car dealerships.

The recession continues to prove to be a complicated issue for both businesses and consumers alike. It is not surprising that most Canadians will search for the best deals possible for all of their basic needs. It is too bad, however, that this may result in more stalled cars on the road…as if traffic wasn't bad enough as it is.

Unfortunately, it would appear as if the rest of the country is following this exact trend. As reported today by Peter Zimonjic and Christina Spencer of the National Bureau, “the number of jobs losses in Canada continues to soar with another 45,000 disappearing last month.”

Finance Minister Jim Flaherty warns that further job losses for Canadians are imminent. This, of course, refutes any idea of the recession being “over” as was declared by The Bank of Canada just a couple of weeks ago. This declaration, not surprisingly, was met with extreme skepticism and anger by Canadians who had lost their jobs due to the struggling economy.

If the recession was over, said many online readers of the supposedly good news, their employment statuses would have naturally been restored. “The unemployment rate will lag the recovery of the economy,” says Flaherty in a statement most would consider quite obvious.

According to Zimonjic and Spencer, citizens of Quebec are suffering the most severe losses of employment as the province “dumped 37,000 jobs in July.”

Similar to the job losses in Toronto, the construction industry throughout the nation has suffered greatly. Also like in Toronto, students across Canada, who depend on summer jobs to help pay their ways through school, have been hit hard.

The unemployment rate for students is at 20.9% – the highest it has been since 1977 when Statistics Canada started keeping such records. NDP Leader Jack Layton weighed in on this revelation: “Seeing such a high rate of unemployment among the youth is really worrying because the young people were counting on these (jobs) for their education…They're going to be very discouraged.”

Evidently, the unemployment rate is one of the most damaging effects of the recession. Until a significant number of these lost jobs are restored, most Canadians will not feel as if its nation has successfully bounced back from the economic crisis being felt across the globe. It appears, at this time, that such a resurgence is a long way off.

Today, it seems, some of these publications are recanting this story. In today's Toronto Sun, The Canadian Press instead claims that “Canada’s economy may be showing signs of life, but federal Finance Minister Jim Flaherty isn’t yet ready to declare the recession over.”

According to the article, Flaherty admits that it was “premature” to declare the end of the recession but believes that “there are good signs that the economy has stabilized”.

“There are the beginnings of a recovery,” says Flaherty, “and I wouldn’t put it any stronger than that.”

This, of course, would echo the sentiments of numerous agitated Canadians who voiced (or typed) their opinions about the supposed end to the recession last week. The Bank of Canada's declaration angered many who had lost their jobs due to the struggling economy.

Wrote one angry reader on Toronto Sun's website: “Here's the thing, when job losses come back to reality numbers, lay offs stop (and) government gets out of debt, then come back to us and tell us the recession is over.”

Clearly, employment loss is atop the list of negative effects of the recession on Canadian society. Evidence of this is found in the number of Employment Insurance benefits currently being doled out to jobless citizens across the country.

According to The Canadian Press, “Statistics Canada reported Tuesday that EI payouts hit their highest level in May since 1997. Just over three quarters of a million Canadians, 778,700 people, received EI benefits in May, an increase of 65,600 or 9.2% from the month earlier.”

Liberal House Leader Ralph Goodale was quoted as sharing these words about this worrisome situation: “The sad reality is these numbers only scratch the surface of the hardships many Canadian families are facing. For everyone getting EI benefits, there’s someone else who’s lost their job but can’t access Employment Insurance.”

Evidently, the jury is out on when the recession will truly be over. However, as reports suggest, Canada seems to be on its way to a brighter economic future. Let's hope it's sooner than later.

Some business owners have been left with no choice but to let go of some of their staff members in order to save money. In some worst case scenarios, others have resorted to considering the closing of their businesses altogether. But as communicated in yesterday's blog, all hope is not lost. There are a number of ways that Canadian businesses can cope with the tough financial crisis affecting the world today.

For restaurtant owners, StarChefs.com's Katherine Martinelli recommends a number of simple yet effective methods of keeping business healthy. Among them is the idea of encouraging loyalty among your customers.

“Make your regulars feel special,” writes Martinelli, “Squeeze in a repeat customer even if you’re booked. A comped drink or appetizer…Whatever you do, don’t take those regulars for granted—they’re the foundation of your customer base”.

Interestingly, Martinelli also suggests training and keeping your current staff. The simple task of making your staff feel appreciated will ensure that they show up to work happy and ready to do the best job that they can. This, in turn, will lead to increased customer satisfaction and repeat business.

All types of businesses can make use of the many suggestions offered up by Women's Business Web as well. And the best part is, you don't even have to be a woman to make these tips work for you! According to New Zealand's WBW website, finding FREE ways of marketing your business is one of the most sensible methods of staying afloat during a recession. One way of doing this would be to invite customers for a tour of your premises that would include demonstrations of your various products and services.

So, in fact, while many business owners may be reluctantly considering downsizing to save on the cost of running their companies, doing the opposite may have greater benefits. In Mark Wadell's February 2008 article “Recession-Proof Your Canadian Business” from CanadaOne.com, he suggests that expansion may actually be good idea during a financial crisis. “Even a small business,” insists Wadell, “can expand their sales reach to include foreign markets”.

Of course, expansion is one of the most popular reasons why many Canadian business owners seek a merchant cash advance. Who knew that now may be the best time to look into one?

The battle continues.

In fact, nearly two months ago, The Toronto Star Business Reporter, Rita Trichur wrote that “Statistics Canada confirmed (that) the economy contracted at an annualized rate of 5.4 per cent in the first quarter. That follows a 3.7 per cent drop in the fourth quarter of 2008 – meeting the definition of a recession with two successive quarters of declining real gross domestic product”.

So, the worst kept secret in today's financial news is finally out. But is it really the end of the world?

While experiencing a recession as we are now, many individuals tend to adopt a type of “cease and desist” attitude. That is, to stop spending as much as possible! But going through a challenging financial crisis doesn't necessarily mean that you can't spend any money at all.

Battling through a recession, of course, does take time, effort and patience and can put an emotional strain on people with all types of incomes. There are ways, however, to spend money wisely so that living through tough economic times doesn't have to be so uncomfortable. As well, certain types of spending can help turn the recession around.

We all have to eat, right? So what ways can we assure that our bellies are full while encouraging economic growth in your local communities? One way to battle the recession, according to Gomestic.com, is to purchase food from local markets and independent restaurants. Doing so, says the site, will “put the money directly into the hands of another local individual. Hopefully they will spend it locally as well, and in turn it will keep the local economy strong”.

This month, writers from the magazine, Time Out Kuala Lumpur came up with some very interesting ideas for beating the recession in an article entitled “102 Ways To Beat The Recession”.

Need a workout? Take advantage of fitness clubs and their free trial offers, says “the TOKL team”: “Most gyms let you try their facilities for a free trial period…reap as much advice from the trainers as you can during your tryout. Finally, pack it all up and hit the outdoor exercise stations with your newfound knowledge”.

The magazine also offers whimsical suggestions on how to save money. They include spraying yourself with sample perfume at fragrance counters before going out to dinner or reading a book in the comfy couches at Borders instead of buying one to take home!

The Synergy Merchant Services Blog will continue to explore ways to battle the recession in the coming weeks. Stay tuned!

While Beltrame asserts that the global recession continues to negatively impact Canadian businesses, the Bank of Canada is indicating that most companies appear to be more optimistic than they were three months ago. While not overly ecstatic news, the bank’s most recent quarterly survey of 100 selected firms found that feelings were moderately improving. Beltrame reminds that three months ago, the results of the winter survey fell to its lowest level since its 1997 inception. The most recent survey took place in February and March.

The news, of course, is not all rosy. Beltrame notes that Canadian businesses still maintain unenthusiastic sentiments towards such issues as credit conditions, investment intentions, product pricing and sales volumes. Most firms are still anticipating a continued decline in sales over the next year. As a result, the tightening of lending conditions will also continue according to the Bank of Canada’s survey of senior loan officers.

Such a situation is naturally consistent with a global recession, however. BMO Capital Markets Economist, Douglas Porter notes that during the first quarter of 2009, Canada probably experienced its worst economic contraction in more than 50 years.

Job losses remain a major dilemma in Canada. Beltrame writes that over 270,000 jobs were lost in the first three months of 2009. If it can be considered positive news, surveys are reporting that firms believe that employment levels will, at least, plateau over the course of the coming year. Sadly, this makes evident that hiring intentions are weaker than what was indicated in previous reports.

No matter what, the nation remains resilient. The roller coaster ride that is the national economy is far from over. Hopefully, future surveys will continue to show more optimism. In the meantime, the country braces for more ups and downs. If only this roller coaster ride was actually as fun as the real thing.