Print Back

Small Businesses Identify Top Issues: Economic Trends, Interest Rates and Cash Flow

BMO Kicks-off Small Business Month by identifying top-of-mind issues and solutions for small business owners

TORONTO, Ontario, October 04, 2010 — BMO Bank of Montreal announced today it will be holding over 500 special events across Canada to celebrate Small Business Week from October 17th to 23rd.

“Small business week is a time to celebrate achievements and innovation; it’s an opportunity to draw attention to a vital part of the economy and our communities. It’s a time to share best practices and learn, and focus attention on major issues that impact Canadian businesses,” said Cathy Pin, Vice-President, Commercial Banking, BMO Bank of Montreal.

A recent nation-wide survey took the pulse of business owners which revealed that above all other issues, BMO’s business customers signaled their strong interest in three main areas:

“Our customers are telling us that they are interested in critical economic trends, understanding how they can navigate through the current interest rate environment, and how they can develop strategies to better manage their cash flow. Canadian business owners have made it clear that they want to focus on their business, not on the ins and outs of banking. This is why we created BMO Business Essentials. These offers help our customers make more informed decisions, they offer clear choices, and it is really one-stop banking for all their business needs,” added Ms. Pin.

BMO Business Essentials was launched in October 2009 to provide business owners simplified banking solutions specially designed to take the complexity out of often difficult banking decisions, by offering clear and customizable choices.

Background:

Economic Trends

Interest Rates

Cash Flow Management Strategies

Small Businesses in Canada

Small businesses are a large part of the Canadian economy. More than one million small businesses makeup the backbone of communities across Canada and these businesses account for nearly 98 percent of the total number of private enterprises in the country. Not only that, over the last decade small businesses have been responsible for the creation of more than one-third of all new private sector jobs.