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31/08/2009 -
According to the latest Discover Small Business Watch, August saw a boost of economic confidence large enough to spill over into Canada, with American small business owners reporting the highest level of confidence in 18 months.The August survey found that the small business confidence index rose 7.7 points since July to hit 89.8, almost reaching the most recent peak of 90.9 recorded in February 2008.
In addition, the survey found that the number of small business owners who plan to increase spending rose to 27 percent from July's 23 percent, while the number of respondents who plan to decrease spending declined 6 points to 49 percent.
This increased American business spending has positive implications for Canadian businesses, as the U.S. is an important trade partner.
Also encouraging was the fact that the number of small business owners reporting difficulties with cash flow declined from 53 percent to 51 percent.
As American businesses get up and running again, their trade partner will likely follow suit - or even lead the process, as the Canadian economy was not as badly impacted by the global recession.
These recent signs of economic improvement make it more important than ever for businesses to be ready to accept all type of payments from their clients - both American and Canadian - to maximize their customer base and cash flow.
