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31/08/2009 -
Though the economy may still be experiencing difficulties, the storm may be starting to pass, according to senior-level accountants surveyed by the Canadian Institute of Chartered Accounts (CICA) and the Royal Bank of Canada.The survey found that the number of respondents who expressed optimism in the economy rose from 4 percent in the first quarter of 2009 to 28 percent in the second quarter. Though still below the levels recorded in the last three quarters of 2007, this most recent level is roughly on par with the optimism seen in 2008.
In addition, two-thirds of respondents expected the economy to return to economic growth by the second quarter of 2010 at the latest.
"An increase in optimism among senior-level chartered accountants is encouraging and it signals that a difficult balancing act lies ahead." said Kevin Dancey, president and CEO of CICA. "Business leaders must address short-term issues but attention also must be paid to the future to ensure companies are in position to take full advantage of the eventual recovery."
To take "full advantage of the economic recovery," businesses are encouraged to ensure that their payment processing systems are up-to-date, PCI compliant, and able to handle a variety of payment cards (such as debit cards, gift cards and prepaid cards). This will help businesses make the most out of the economic rebound, as consumers start to open their wallets again.
