A CANADIAN PERSPECTIVE

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Presentation transcript:

A CANADIAN PERSPECTIVE SMPs: Adapting to the economic turbulence and laying foundations for sustainable growth

RECESSION’S IMPACT SMEs/SMPs weathered storm effectively Largely unaffected by credit crunch More optimistic than players in other countries

CANADA’S RESILIENCE Strong banking system Tighter financial regulations Cautious and risk-averse banking culture Lending practices largely unchanged

SME/SMP OPTIMISM Turned to accountants for advice Relative strength of Canadian consumer CIBC Word Markets study – Canadian consumer to outpace all G7 consumer sectors

CANADIAN BUSINESS ENVIRONMENT Economy extremely regionalized Some regions highly resource-based; others rely heavily on manufacturing Result = recession affected regions differently

FUTURE FOR SMPs Growth areas: - Succession - Estate planning - Restructuring Success = providing strategic advice Being proactive essential

SMPs AND THE RECOVERY Protect independence and integrity Provide staff with new knowledge and training Make the most of technology Take time to listen to clients Find innovative ways to meet client needs