Canada has been an ideal destination for many business owners and investors in recent years, especially those hoping to expand into a foreign market. One of its biggest advantages is its location. Being so close to the U.S., it’s easier for companies to have business relations with the U.S. Canada is also known for the availability of skilled workers, and its natural resources like oil, gas and timber.
Many businesses are choosing Canada because of high corporate tax rates in their native countries. Canada also holds first place on the Forbes Best Countries for Business list. As a result, a growing number of large multinational companies are establishing new offices and franchises in Canada.
Big Things to Keep an Eye On
There are five important things business owners and investors should watch out for in the Canadian business world for the remainder of this month.
- Resources sector. In the first few days of August, Miner Barrick Gold Corp. reported its second-quarter earnings, closely followed by Lundin Mining Corp. Things to watch for these two companies are (1) Barrick released an update in July that it was on track to achieve its production targets for 2022. Meanwhile, Lundin will likely face some major questions over a sinkhole detected at a Chilean mining site.
- Commercial real estate. Several REITs will be releasing their financial results soon. While the pandemic hit many shops and restaurants hard, the retail sector seems to be seeing much less ambiguity, according to RioCan CEO Jonathan Gitlin.
- Food inflation. New information will be released soon explaining how food inflation is affecting the bottom line for Canadian grocers. According to grocery store Loblaw, its customers are less eager to spend money on certain non-food products than they have been in the past, sticking to their budgets and food items when they shop.
- Entertainment budgets. Second-quarter results will reveal just how much of a climb the cinema and entertainment company experienced in the first months of the year compared to 2021, when the pandemic kept many theaters closed/reduced capacity.
- Brookfield Asset Management Inc. Investors in particular will be keeping a close eye on Brookfield Asset Management Inc.’s latest reports. Recently, the company announced that it would be spinning off its asset management business into a separate publicly listed company, an update investors will want to watch.
Canadian High Risk Merchant Account for Growth
If your business is one of the many considering the Canadian market, your next question might be where to secure the best payment processing services. It’s more important than ever to ensure you can reach customers in other countries, provide safe processing solutions and offer multiple payment processing options.
Before you partner with a provider, inquire after a Canadian High Risk Merchant Account. A high risk merchant account is used by companies that struggle to secure merchant services from a traditional provider for one reason or another. Oftentimes, providers will shy away from providing services to companies reaching out to new markets in different countries. A Canadian High Risk Merchant Account will allow you to do just that, safely processing credit and debit card transactions.
Above all, make sure they have years of experience in working with your business type, keep up with the latest trends and resources and provide 24/7 support. Their merchant services should be tailored to your business’ unique needs.
Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest rated high risk merchant account processor in the country. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.