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  • Less than 10% of business processes will rely on paper by 2018 | Small Biz Advisor
    as primary issues 40 percent of Canadian respondents said cost reduction was the prime reason for digitization followed by improved data collection at 33 percent Survey respondents predicted an average of only nine percent of key business operation processes will run on paper in the next two years But more than half 55 of the respondents admit their organizations processes are still largely or entirely paper based and about one

    Original URL path: http://www.smallbizadvisor.ca/news/less-than-10-of-business-processes-will-rely-on-paper-by-2018-4206?Print (2016-04-26)
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  • Manufacturing deterioration slowing | Small Biz Advisor
    for seasonal influences the RBC Canadian Manufacturing PMI registered 49 4 in February up fractionally from 49 3 in January but below the neutral 50 0 threshold for the seventh month running Nonetheless the latest reading was the highest since August 2015 largely reflecting a softer decline in production levels during February The U S expansion alongside a more competitive Canadian dollar is continuing to drive stronger export sales and stabilize manufacturing conditions said Craig Wright senior vice president and chief economist RBC At a regional level the sharp improvement in Ontario s manufacturing sector during February was a key factor in raising the Manufacturing PMI to its highest level since August 2015 The headline RBC PMI reflects changes in output new orders employment inventories and supplier delivery times Key findings from the February survey included Manufacturing PMI rose to its highest level since August 2015 Production levels dropped only slightly in February New export orders picked up for the fourth month running Manufacturing output has now declined for seven months running but the latest fall was only marginal and the slowest over this period Where a drop in production levels was reported survey respondents commented on falling new business intakes and in some cases efforts to streamline stocks of finished goods Volumes of new work dropped for the sixth consecutive month in February which is the longest continuous period since the survey began in late 2010 Anecdotal evidence pointed to subdued underlying client spending and an ongoing decline in sales to energy sector clients Stronger export sales helped to offset some of the reduction in domestic demand in February A number of manufacturers noted that exchange rate depreciation against the U S dollar had boosted new business intakes from export clients Canadian manufacturers remained cautious in terms of input

    Original URL path: http://www.smallbizadvisor.ca/news/manufacturing-deterioration-slowing-4205?Print (2016-04-26)
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  • Canadian banks’ Q1 earnings mixed | Small Biz Advisor
    74 million while its financial markets arm contributed 41 million of net income down from 177 million a year earlier again mainly because of Maple Financial Maple Financial Group is unrelated to Maple Acquisition Group which bought the TMX in 2012 BMO The Bank of Montreal saw its first quarter profit rise 7 to 1 07 billion as it grew revenue in its personal and commercial banking segments on both sides of the border That compares to net income of 1 billion during the same quarter last year The bank s earnings amounted to 1 58 per common share an increase of 8 from the 1 46 per share that BMO reported a year ago On an adjusted basis the bank earned 1 18 billion or 1 75 per share up from 1 04 billion or 1 53 per share during the same quarter last year And its revenue amounted to 5 08 billion for the quarter ended Jan 31 up from 5 06 billion a year ago Provisions for credit losses rose to 183 million compared with 163 million during the same quarter last year But loans to oil and gas companies that are unlikely to be repaid in full rose to 162 million during the quarter an increase of nearly 60 from the previous quarter Barclays analyst John Aiken says despite the increase impaired loans to the energy sector were still modest representing only 2 2 of the bank s oil and gas loans While weakness continues to permeate through BMO s energy portfolio it is still not showing any cracks Aiken said in a note to clients BMO s Canadian personal and commercial banking business saw profits climb by 5 from a year ago to 529 million South of the border the bank s personal and commercial

    Original URL path: http://www.smallbizadvisor.ca/news/canadian-banks-q1-earnings-mixed-4200?Print (2016-04-26)
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  • Fines, admin penalties from CSA top $138M in 2015 | Small Biz Advisor
    CEO of the Autorité des marchés financiers Highlights 145 cases concluded against 233 individuals and 117 companies resulting in fines and administrative penalties of more than 138 million more than 111 million in restitution compensation and disgorgement and jail sentences of approximately 10 years handed down to 15 individuals for securities law infractions 108 cases commenced against a total of 165 individuals and 101 companies 35 freeze orders issued against

    Original URL path: http://www.smallbizadvisor.ca/news/fines-admin-penalties-from-csa-top-138m-in-2015-4199?Print (2016-04-26)
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  • Manufacturing gets a reprieve at start of 2016 | Small Biz Advisor
    RBC Canadian Manufacturing PMI moved closer to stabilization in January following a survey record low at the end of 2015 Measured overall business conditions deteriorated to the lowest degree for five months reflecting softer falls in output new business and employment The main bright spot was a solid rebound in export sales which helped offset some of the downturn in domestic demand A number of manufacturers noted that the weaker loonie had contributed to rising new business wins from U S clients At the same time exchange rate depreciation also led to a strong and accelerated increase in average cost burdens with input price inflation hitting an 18 month high in January A monthly survey conducted in association with Markit a leading global financial information services company and the Supply Chain Management Association SCMA the RBC PMI offers a comprehensive and early indicator of trends in the Canadian manufacturing sector At 49 3 in January the seasonally adjusted RBC Canadian Manufacturing PMI recovered from December s survey record low of 47 5 but remained below the neutral 50 0 threshold for the sixth consecutive month The current period of decline is the longest since the survey began in late 2010

    Original URL path: http://www.smallbizadvisor.ca/news/manufacturing-gets-a-reprieve-at-start-of-2016-4156 (2016-04-26)
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  • 15% more SMEs used EDC export guarantee program in 2015 | Small Biz Advisor
    Guarantee Program EGP in 2015 a 15 increase over 2014 The increase was driven in part by an evolution in the EGP s level of coverage Beginning in late 2014 EDC began guaranteeing up to 100 of a bank s loan to a Canadian SME up from the previous limit of 75 As a result the program surpassed CAD 1 B in annual volume for the first time in 2015 The EGP is a difference maker because it makes it much easier for banks to say yes to the financing requests of Canadian SMEs said Bruce Dunlop Vice President Commercial Markets and Small Business EDC Regular access to financing is critical for SMEs to grow their business through trade but global economic conditions continue to challenge domestic lenders when they consider providing trade financing The EGP addresses the needs of the SMEs and their banks so everybody wins The EGP is a risk sharing guarantee that EDC provides to the bank of an exporter It assures the bank that a percentage of a loan it provides to an exporter will be repaid With the guarantee in place banks can feel more comfortable lending larger amounts to Canadian companies whether they

    Original URL path: http://www.smallbizadvisor.ca/news/15-more-smes-used-edc-export-guarantee-program-in-2015-4155 (2016-04-26)
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  • Use of non-bank, online financial services to triple | Small Biz Advisor
    to keep their current customers The report shows fintech adopters are young and wealthy an important target market for financial services players Part of the reason fintech adoption in Canada is so low is because consumers don t know what products and services are available For digitally active respondents who haven t used two or more fintech products in the past six months more than half 57 2 say they were unaware the products existed Only 10 3 of Canadians say they re not using fintech because they don t trust them Canadian financial institutions have traditionally enjoyed consistently high levels of consumer trust says Smith And yet only 10 of digitally active consumers report lack of trust as a reason for not using fintech products This finding shakes up our understanding of how far Canadians trust goes and is certainly something for traditional players to make note of By quite a margin nearly half of users cite ease of set up as the reason they prefer fintech offerings Traditional players will need to focus creative energy to streamline their onboarding process to rival the newer entrants and at the same time offer more attractive fees Over 20 of Fintech users cited lower fees as the reason they use fintech products It s no surprise young Canadians use fintech products the most Almost 15 of Canadian respondents between the ages of 18 and 34 years old used at least two fintech products in the past six months followed by those aged 35 to 54 9 8 Less than 2 of those aged 55 and older reported the same usage These young Canadian fintech adopters tend to also be high earners says Smith They will become even more valuable for financial services providers as time goes on The EY report finds

    Original URL path: http://www.smallbizadvisor.ca/news/use-of-non-bank-online-financial-services-to-triple-4152 (2016-04-26)
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  • Consumer spending up 5.49% in Q4 of last year | Small Biz Advisor
    after your message Validate Text Size C onsumer spending in Canada grew by 5 49 in the fourth quarter of 2015 on a year over year basis according to the MonerisMetrics Quarterly Report released by Moneris Solutions Corporation Growth in the final quarter of the year was consistent with the increases seen in the first three quarters of 5 78 6 08 and 6 68 respectively marking 2015 as a year of steady spending growth In comparison to the final three months of 2014 consumer spending across Canada rose by 5 91 in October 5 32 in November and 5 29 in December With the exception of Alberta all provinces posted increases during the quarter New Brunswick posted the strongest increase 8 76 followed by Ontario 8 33 Saskatchewan posted the smallest increase 1 35 Spending on credit cards increased by 7 16 and by 2 70 on debit cards continuing the trend of greater increases in credit card spending seen throughout the year Contactless payments accounted for 5 80 of all transactions more than double their share from the same period last year Contactless payments are continuing to see triple digit growth increasing by 133 44 over the fourth

    Original URL path: http://www.smallbizadvisor.ca/news/consumer-spending-up-5-49-in-q4-of-last-year-4151 (2016-04-26)
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