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This month
we take a look at
what it will mean for Canada
to become 100% cashless. It’s
not nearly as daunting as some might think. As of
now, about 54% of all monetary transactions are
done with debit or credit cards, but extricating
that final 46% will take a fair amount of time and
money as well as a commitment from govern-
ment, business and private citizens. Denmark is
trying the all-cashless approach as of this Janu-
ary, with Norway and Sweden expected to follow
suit. It will be interesting to see what growing
pains they encounter, if any.
An economic tale
of two provinces: one
good, the other not so much. Quebec Finance
Minister Carlos Leitao says the country’s second-
largest province is on track for a balanced budget
by next year. Canada’s largest province is mired
in a financial mess, and evidently it’s not going to
get better any time soon. Queen’s Park is project-
ing that its deficit for next year will be $7.5 billion.
Despite that grim figure, the Liberal government
maintains it can eliminate the deficit by 2017-18.
A loyalty program
for small business own-
ers that is well worth looking into is Vicinity, in
conjunction with Rogers. It can help increase
your sales by keeping customers coming back for
more with a loyalty rewards program. You can
read more about Vicinity on
It’s rather incredible
how Tim Hortons can
be so successful here in Canada and be met with
such mixed financial returns in some parts of the
United States. In Canada, opening a Timmy’s is
essentially a licence to print money. It’s been said
that the vast majority of locations have their daily
costs entirely covered by 9am and the rest is pure
profit… icing on the cake – or donut – in this in-
stance. Just recently a number of locations were
closed in New York State and Maine.
Black Friday was celebrated
– if you can call
it that – as part of U.S. Thanksgiving, but border
towns here in Canada also took part, know-
ing full well that Americans hungry for bargains
would likely make the trek north to save money
with the U.S. dollar so strong against the lag-
ging loonie. However, financial experts said the
long weekend was unlikely to bring much cheer
to investors looking for a revival in retail stocks.
The most notorious part of Black Friday seems
to have become the annual brawls in the retail
stores amongst rapid shoppers. The battle for
the steamer at Walmart has already become this
year’s big hit on YouTube.
Did You Know?...
Warner Music owns the
copyrights to “Happy Birthday,” so it’s technically
owed royalties every time you sing it to someone
on their big day.
Angus Gillespie
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