This is what entrepreneurs, small business and startups need to know in our world wrap up today!
Canada: "Canadian companies focus on workforce leverage"
USA: "US services firms on the down"
France: "If you've got it, buy it and drink it"
"Canadian companies focus on workforce leverage"
The state of Canada's economy is once again being called into question after a major survey of hiring intentions indicated that only 38% of companies expect to hire this year even though 70% of them expected to grow.
The annual survey produced by Hays Canada surveyed 3,691 firms ranging in size during the month of November (2014) and while the majority indicated they still expected the economy to grow there was still a concern that the current workforce has not been leveraged enough. Rowan O'Grady, President of Hays Canada told media Tuesday that there is a "hangover from the recession" in hiring plans where "they think we can deal with this (growth) without having to raise permanent head count, especially since the recession is so recent"
News for Canada's economy is not all great with a fall in commodity prices impacting on revenue. Canada and Australia are two economies that have performed well compared to their G20 cousins in recent years but are also heavily dependent on things such as the price of iron ore.
For small business there are risks with the slow down in the mining sector with a need to diversify away from single source industry based clients. The sector may be about to take another hit as the White House has confirmed that the controversial Keystone Bill is likely to be vetoed by the President. The project was to bring 800,000 barrels of Canadian crude across the border and into the US by way of a large pipeline.
"US services firms on the down"
After five years of slow (if not negative) growth the services sector in the United States is continuing its lack luster performance and this could be an indicator that small business growth has also flat lined. Washington D.C based Institute of Supply Management has said that its service index fell to 56.2 in December down from 59.3 in November (2014). That said the index actually equates a reading of over 50 to be expansion and the figures of 59.6 reached in August were an eight year high.
Mike Avery, an EntreHub member and small consulting owner based in lower Manhattan said that "smaller firms in the services sector had been doing it tough in the last few years because the economy was largely in the toilet. Towards October we saw a recovery in our project based work on both the east and west coast but very little has been happening in the middle of the country" he said.
It is estimated that there are more than 200,000 small services based businesses in the United States and operated by no more than two or three person owners. Mike did indicate that they expect 2015 to be stronger with an already bubbling economy that has shown consistent growth:
"We look for wage growth increase in some of our key sector we offer services which is always an indicator for labor demand - of there is labor demand there is always work."
"If you've got it, buy it and drink it"
Have you heard the one about the rapper who loved something so much he bought it? Well that's exactly what Mr Beyonce, Jay Z, has done in snapping up champagne brand Armand Brignac from a French family who has been bottling magic stuff since the wine making house was founded way back in 1763. While the over arching company has not been sold (its only the label that has been produced for about eight years) it is estimated that the sale price could be as high as $30 million. Of course, that would not matter too much to Jay Z who with his wife Beyonce are worth more than $1 Billion. We mean whats a few mill on a champagne brand between friends?
The actual brand has featured in Jay Z's music videos and when he and the wife threw a fundraising party for the Obama re-election in 2012 Presidential minders had to cover up the 300 bottle fountain for fear voters might get the wrong idea! All in all, this small french family own brand hasn't done too badly at all. We done if Jay Z may want a Tasmanian salmon label or a New Zealand savignon to go with Champagne!
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