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01/03/2010 -
The majority of Canadian businesses expect revenues to rebound in the coming year, as optimism about economic recovery improves, said a recent study. According to a survey of Canadian small and midsize businesses by Grant Thornton International, 72 percent of respondents were "very" or "slightly" optimistic about the country's economic outlook for the next 12 months, while 51 percent of respondents expect to revenue growth in the coming year. In addition, 49 percent believe they will see an increase in profitability.
"Privately held businesses across the world are starting to see the results of aggressive government stimulus spending and low target interest rates, and that's creating a sense of optimism," said Bill Brushett, Grant Thornton's national leader for privately held business in Canada.
As the Canadian economy continues on this road to recovery - as evidenced by the latest increase in real gross domestic product and consumer spending, reported Monday by Statistics Canada - businesses are advised to keep up with the pace of increased spending by offering debit and credit card processing as part of their merchant services.
