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21/10/2009 -
Despite the credit crunch, Canadian small businesses have not had as much trouble accessing credit as many expected - a positive indication of the health of what is considered the backbone of Canada's economy. A survey released this week from the Certified General Accountants Association of Canada found that more than 60 percent of small businesses reported that their access to credit has remained unchanged or has improved in the past few years.
Furthermore, more than 50 percent of respondents said that credit access concerns have not deterred them from expanding into new markets, new regions or new products.
The survey, which studied access to credit in a number of global markets, found that Canadian small businesses were better off in than their counterparts in many other countries, calling it an example of an affluent nation "in which the impact of the credit crunch has been comparatively mild."
This is good news for companies in the business-to-business sector, especially ones that feature credit card processing. As the credit crunch remains 'mild,' businesses will likely continue to take advantage of credit cards for financing and purchases, which means that their business clients will see higher sales - and higher customer satisfaction - if they have credit card processing capabilities.
