What to Watch for in Canadian Business in the Coming Months

Jun 11, 2015

There is much to look at in Canadian business the beginning of this month. The beginning of this year has seen many changes on the Canadian business scene. These changes range from oil prices to environmental organizations to job reports.

Those who have invested their earnings in the stock market anxiously awaited the reveal and outcome of the latest earnings reports and annual meetings that took place the beginning of May. Major companies like Sun Life Financial and Telus and Magna International were scheduled to reveal to shareholders how they fared in the first quarter of 2015.

Another aspect of Canadian business to keep up with is the current oil situation. Husky Energy Inc., has recently started its Sunrise Energy Project, a key component of Husky’s oil sands growth. The steam operations began in December 2014. The project will allow Sunrise to use the technology in-stu steam assisted gravity drainage (SAGD) which will considerably cut down on the disturbance inflicted on the surface of the land.

Pipelines transportation agreements have been organized by Husky in regards to this Sunrise project. Husky’s partner operates the jointly-owned BP-Husky Refinery that is located near Toledo, Ohio. This is the location where the bitumen will be processed for this project into the various transportation fuels. However, nations groups and environmental organizations have already begun speaking out against this proposed pipeline.

In addition, job report statistics were released during the beginning week of May. This report revealed a gain of 29,000 jobs in the month of April. This gain in jobs is the result of increases in part-time work. These statistics are a positive glimpse of the state of the economy after Canada experienced a difficult first three months this year.

Another positive change for Canadian businesses is the increased availability of Canadian merchant accounts. Businesses are excited for the opportunity to secure a Canadian high risk merchant account with eMerchantBroker. For years, eMerchantBroker has offered the U.S. unmatched service and quality, and they have now invaded Canada. A Canadian merchant account can offer businesses considered “high risk” by traditional lending sources the ability to secure the payment processing solutions they need, despite the categorization of “high risk”.

As the month continues, economists are waiting to see how the housing market performs. The other positive changes that have taken place so far appear to be promising for the Canadian businesses scene. There is definitely a lot to watch for in the coming months.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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