Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
Even Deutsche Bank is getting out of Russia - CNN + MORE Mar 12th
Even Deutsche Bank is getting out of Russia CNNDeutsche Bank faces criticism for remaining in Russia as others cut off links The Globe and MailDeutsche Bank refuses to pull all its Russia business CNBC TelevisionAll the Ways Banks Can Get Hit by Putin's War &nbs.... More »
Looking for a mortgage in B.C.? Don’t limit your options to the big banks May 28th
At last, interest rates are coming down again. For Canadians who are in the market for a new home, facing renewal of their mortgage in the foreseeable future, or feeling unsatisfied with their current home loan, this poses two choices: do you pounce now, or stay on the sidelines in the hope that rat.... More »
Canadian Tire Rewards: How to earn CT Money with the Triangle Rewards program and Triangle Mastercard May 24th
If you’re Canadian, chances are you’ve shopped at Canadian Tire. The retailer, established nearly 100 years ago to sell tires, has steadily expanded into a one-stop shop for everything home, automotive and outdoors, which means customers can find everything from patio furniture to hockey equipme.... More »
Credit Cards Canada: Tips for Opening a New Credit Card + MORE Apr 11th
Looking for a new credit card but confused by all of the options available and what their terms really mean? Maybe you want a credit card so you can shop without having to use cash for purchases. Or, maybe you’ve heard about travel rewards cards that let you use points for flights and hote.... More »
Aggressive Acquisition Strategy Hits Scotiabank’s Stock Price as Investor Skepticism Mounts Sep 13th
The Globe and Mail, Tim Kiladze, 12 September 2018
After a stunning run of acquisitions, Bank of Nova Scotia is feeling the heat. Shares of Canada’s third-largest lender are suffering relative to rival Big Six banks, and the pressure is on management to prove its recent spate of deals was worth i.... More »
If you’re already feeling gouged by bank fees, it may be time to check your statements. Almost all of Canada’s big banks are doling out some kind of personal banking fee increase this year.
Get Started: Money, regulation are small business challenges
– canadianbusiness.com
MONEY, REGULATIONS CHALLENGE BUSINESSES, SURVEY FINDS
Small businesses are still struggling to get the money they need and to comply with government regulations, according to a survey by Babson College.
Company owners who took part in the survey said they’ve been able to get only about 40 per cent of the money they requested from all sources, including loans and investor funding. The nearly 1,900 survey participants sought a median amount of $100,000, but received only $40,500. The survey also found that banks are companies’ primary source of funding.
Finding money has long been difficult for small businesses, particularly young ones. However, getting loans has been even tougher since the recession because banks are extremely cautious about lending in general.
Businesses that seek funding are most likely to use it to supplement their cash flow or to buy real estate or equipment. Only about 8 per cent of the owners said they wanted money so they could hire more staffers — a finding that’s in line with other surveys that have shown owners are conservative about expanding their payrolls…
Small businesses are still struggling to get the money they need and to comply with government regulations, according to a survey by Babson College.
Company owners who took part in the survey said they’ve been able to get only about 40 per cent of the money they requested from all sources, including loans and investor funding. The nearly 1,900 survey participants sought a median amount of $100,000, but received only $40,500. The survey also found that banks are companies’ primary source of funding.
Finding money has long been difficult for small businesses, particularly young ones. However, getting loans has been even tougher since the recession because banks are extremely cautious about lending in general.
Businesses that seek funding are most likely to use it to supplement their cash flow or to buy real estate or equipment. Only about 8 per cent of the owners said they wanted money so they could hire more staffers — a finding that’s in line with other surveys that have shown owners are conservative about expanding their payrolls…
