A CANADIAN PERSPECTIVESMPs: Adapting to the economic turbulence andlaying foundations for sustainable growth

• SMEs/SMPs weathered storm effectively• Largely unaffected by credit crunch• More optimistic than players in other

countries

RECESSION’S IMPACT

• Strong banking system• Tighter financial regulations• Cautious and risk-averse banking culture• Lending practices largely unchanged

CANADA’S RESILIENCE

• Turned to accountants for advice• Relative strength of Canadian consumer• CIBC Word Markets study – Canadian

consumer to outpace all G7 consumer sectors

SME/SMP OPTIMISM

• Economy extremely regionalized• Some regions highly resource-based; others

rely heavily on manufacturing• Result = recession affected regions differently

CANADIANBUSINESS ENVIRONMENT

Growth areas: - Succession- Estate planning- Restructuring

Success = providing strategic advice

Being proactive essential

FUTURE FOR SMPs

• Protect independence and integrity• Provide staff with new knowledge and

training• Make the most of technology• Take time to listen to clients• Find innovative ways to meet client needs

SMPs AND THE RECOVERY