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A CANADIAN PERSPECTIVE

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.

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A CANADIAN PERSPECTIVE

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

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

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

  4. 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

  5. CANADIANBUSINESS ENVIRONMENT • Economy extremely regionalized • Some regions highly resource-based; others rely heavily on manufacturing • Result = recession affected regions differently

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

  7. 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

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