Millionaire Households Set to Surge 38% in Canada | KENSEL TRACY

by Kensel Tracy

If all you ever thought about Canada is that it’s the land of ice, snow, oil, wood and hockey it’s time to think again about doing business in Canada. For example, according to a new report, the number of millionaire households in Canada is set to surge 38% and total wealth will more than double.

A study carried out by the Deloitte Centre for Financial Services of 25 countries found that the number of millionaire households in Canada will jump from 1.74 million to 2.4 million in the next nine years according to a report on Global Wealth. This study also found that Canada’s total wealth will rise from $3.35 billion to $6.77 billion. This is great news for a population of some 35 million but still a drop in the bucket in comparison to the U.S.

For example, the total wealth projected in the millionaire households world-wide will grow from $92 Trillion in 2011 to $202 Trillion in 2020. For my American friends who think that their economy is still on the skids, they should be a whole lot more optimistic now because the study also found that the U.S. is likely to remain the world leader in terms of total wealth followed by Japan and Italy.
For example any American worried about the U.S. economy should be investing heavily in real estate, stocks and or bonds since the same study predicts that 43% of the world’s millionaire households are predicted to be in the United States and also the number of millionaire households in the United States is projected to increase from an estimated 10.5 million in 2011 to 20.6 million in 2020.

While this news is good for Canada right now, it’s projected that even with this impressive growth Canada is likely to slip in wealth status to 8th world-wide since China is expected to make huge gains in the next number of years and is currently in 12th place.

The study also showed that wealthy Canadians have the biggest portion of their money in cash and other categories, which accounts for 28% of their total holdings. Canadian millionaires also tend to hold equal shares in real estate and domestic stocks at about 21% and over 11% in foreign stocks.

Meanwhile with the bloom off American real estate in the short-term (except for those Canadians investing in warm climate states like Florida and California) the ownership of property still accounts for 51% of millionaire household assets in Italy, compared with 45% in Spain and 35% in Hong Kong.

This study also shows that Canada is still a safe haven to do business, start a new lifestyle or just continue doing what we have been doing since the economy is maintaining a steady growth and there is also strong projected future growth.

This is also a great message for my American friends who can now start to change their attitude slightly and view their economy as one of the best in the world and see that it’s time for America to start to rebuild its business base, its cities, its real estate and its stock market. Even with the current downturns the U.S. it is still the leader in the number of millionaires world-wide.

So even though you think that Canada is that northern white spot on the map north of the 49th parallel remember there are millions of dollars up here waiting for investors and new products and Canada represents a great market for any type of business.

Kensel Tracy is the Marketing Coach, Senior Partner with the Corporate Coachworkz Inc. and President of Business Over Breakfast Clubs currently opening in every city and town in North America.

For more information, please visit Kensel's TNNWC Bio.

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Millionaire Households Set to Surge 38% in Canada | KENSEL TRACY

KENSEL TRACY: Governments Taxing Business in the Name of Job Creation is a “Sham” in Canada

by Kensel Tracy

In the Province of Ontario the provincial governments recently harmonized the Federal GST at 5% with the Provincial tax of 8 % for a total tax of 13% on all goods and services except for those few products which are restricted to GST only.

The rationale was that this tax would replace a manufacturer’s tax and provide business owners with the added cash flow from the manufacturer’s tax to create a significant amount of new jobs.

At the time I was thinking how can a new tax create a new job? The only way that can happen is if the government stimulates the job through government training or through some other method since the amount of money paid to the manufacturer is marginal compared to the costs.

One of the things the HST has stimulated and it sure as heck is not a lot of new jobs is the price of gas and the cost of electricity and heating oil. In the past heating oil and electricity two main stays of industry were not taxed. The price of gas was below the cost of gas in the United States.

Now with the combined HST, on top of a federal and provincial tax, gasoline shot up above the psychological $1.00 a litre price and is now $1.12 -1.15 giving the oil companies carte blanche to raise their prices without any consumer backlash. Higher gas prices are seen as the impact of the HST. Electricity in Ontario has gone through the roof and prices have increased also because of the impact of the HST.

Disposable income has also decreased. For example, since the consumer now has to pay as heat, hydro and fuel costs, that’s a $.20 cent per litre increase or $10.00 per tank of gas does not go into other products, just into the pockets of the oil companies and the tax man.

Take that same $10.00 and multiply that by the number of vehicles registered in Ontario of 10.5 million filling their tank once a week and that’s $100,000,000 million that is not spent by the consumer and again goes to just two sources, the government and the oil companies.

Are you getting my point? Taxes don’t create jobs. Companies and businesses do. Companies and businesses can only create jobs when they sell products. By cutting down on the consumers disposable income, less goods and services are acquired. With less goods and services purchased, less jobs.

So I think that government meddling and taxes are partly responsible for this mess we are in in both Canada and the U.S. Give someone $10,000 more per year and they are going to go out and buy new products and stimulate the economy. Somehow we have it all wrong in this country where jobs are limited due to high taxes and politicians with little or no business sense. Now .. where are those new jobs the HST was supposed to create.

Kensel Tracy is the Marketing Coach and a Senior Partner with the Corporate Coachworkz Inc. located in Chelsea Quebec and Ottawa Ontario, and also the President of Business Over Breakfast Clubs of North America. If you have a story of interest please contact him at kenselt@sympatico.ca.

For more information, please visit Kensel's TNNWC Bio.

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BLUE THING #3: Amazing New Facts and Statistics

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In honor of the 2010 Winter Olympics in Vancouver, the historic Stanley Cup Playoffs of 1900 in which the Montreal Shamrocks beat the Winnipeg Victorias on Feb 16th (3 games to 1) and our readers in Canada we bring you:

Amazing Facts about Ice Hockey and the Stanley Cup

Ice HockeyHockey has been played in some form or other for 100s of years. It is thought to be 1 of the earliest sports in the world, and was played by the ancient Greeks, Egyptians, Persians, Romans, and Arabs.

Hurling, a sport very similar to hockey, is known to have been played during the first millennium BC in Ireland, and other similar types of sports were adopted by other Europeans in the Middle Ages (5th century to 15th century). In pre-Columbian times (before the 16th century) Native South Americans also played a game much the same as hockey. The name hockey, thought to have been adapted by the English from the French word hoquet (shepherd's crook), was 1st given to the sport in the eighteenth century but was not in common usage until the nineteenth century.
The Stanley Cup

The modern game of ice hockey was invented in the mid-1850´s by British soldiers based in Canada. Rules were set by students at McGill University in Montréal, Canada, in 1879, and many amateur clubs and leagues were organized in Canada by the late 1880´s. The game is believed to have been 1st played in the USA in 1893. By the beginning of the twentieth century the sport had spread to England and other parts of Europe. The modern game developed in Canada, and nowadays is very popular in North America and East Europe.

The NHL is the most important league in the world; this National Hockey League comprises teams from the United States and Canada, but for many years almost all NHL players Canadians. The winning team of this competition is awarded the Stanley Cup trophy. Ice Hockey became an Olympic sport in 1920 and is 1 of the most popular events at the Winter Olympics.

"I have for some time been thinking that it would be a good thing if there were a challenge cup, which would be held from year to year by the leading hockey club in Canada. There does not appear to be any outward sign of a championship at present, and considering the interest that hockey matches now elicit, I am willing to give a cup which shall be held annually by the winning club."

So mused Lord Stanley of Preston in 1892, at a sports banquet in Ottawa. The following year Canada's governor-general was true to his word, purchasing a silver bowl for $50 and naming it the Dominion Hockey Challenge Cup. Hockey folks went with a less formal designation, the Stanley Cup.

The first winner was a Montreal team that finished atop the Amateur Hockey Association of Canada, considered the best league going at the time. But in its early years, the prize was not exclusive to one hockey league, nor was it meant to be. It was a challenge cup, changing hands in much the same way as a boxing title. Contenders issued challenges, and the champions held the Cup for as long as they could fend off all comers. Independent trustees ensured that legitimate challenges were met on a regular basis.

In later years, as professionalism swept the game, it was accepted that the Stanley Cup could not remain exclusive to amateur teams. The Stanley Cup officially turned pro in 1910, when the National Hockey Association took possession of it. But it was not until 1926 that the National Hockey League emerged indisputably as the top league in North America, effectively taking control of the Cup. That control was formalized in an agreement signed with the Cup trustees in 1947.
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