Canada’s Municipal Spending Watch in 2014

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Table of Contents

Introduction
Analysis: Strengths, Weaknesses and Suggestions
Conclusion
Reference

Introduction

Carrying out an analysis of consumerism trends in a specific society is an essential step towards designing tools for reducing inflation rates within the specified area, as well as identifying the key threats to and opportunities for the local economy. An overview of the Canada’s Municipal Spending Watch (Gormanns, 2014) shows that, while increasing together with the overall amount of the Canadian citizens, the overall spending rates are still dangerously high.

Analysis: Strengths, Weaknesses and Suggestions

While the next issue to discuss might seem a nitpick, it still points at an obvious flaw of the report that may lead to further misconceptions and, therefore, the location of an improper strategy for addressing the problems raised. Particularly, the fact that the study takes little to no account of the stabilisation fund and its further role in the state economy deserves to be mentioned. On the one hand, Canada may not necessarily need a stabilisation fund, as no major natural resources such as oil can be located within the state. On the other hand, Canada does have a range of assets that need to be protected from financial crises and, therefore, require the enhancement of the role of the stabilisation fund. By omitting the subject matter, the author makes the report incomplete.

It seemed reasonable that the author focused on the key changes that occurred in the financial landscape of the state over the past few years, such as the introduction of the municipal pension reform into the framework of the state’s operations. Despite the fact that the above-mentioned innovation is only in its conceptualising stage at present, it has already had its toll on the overall course of the state economy, which the report stresses in quite an obvious manner: “Last February, the Quebec (provincial) government proposed legislation that would require municipalities to restructure their pension plans under certain conditions” (Gormanns, 2014).

In addition, the fact that the report addresses the employment issue in the target area should also be recognised as a very valid point to make. By highlighting the employment issues, the authors of the report link the economic and the social issues that can be observed in the target society. Particularly, the connection between the social challenges and the economic ones can be drawn. Apart from the above-mentioned issue, the analysis of growth in the number of jobs, including both municipal and the ones suggested by private entrepreneurships helps view the scope of the Canadian private business development, i.e., the success and promotion of the local SMEs.

Therefore, by shedding light on both positive and negative aspects of the financial policy and the budget allocation that the Canadian authorities designed for 2014, the report provides a rather objective analysis of the key factors that defined the economic growth in Canada in 2014.

The author’s decision to include the information concerning the correlation between the overall spending trends in Canada and the increase in the number of the Canadian citizens seems a very legitimate step to make, as the further changes in the demographics of the state may serve as the key determinants for the identification of the changes in the spending rates within the state. Consequently, the report provides an essential remark concerning the future of the Canadian economy and the location of the strategies that will help address the existing issues within the state.

From the perspective of a small business owner, the specified report can be considered an essential tool in defining the further strategy towards marketing to the target demographics. Apart from helping define the chances for succeeding in the target area by calculating the annual growth of the population, the report allows one to indicate the trends in consumer behaviour in different regions of Canada; as a result, the organisation in question will be enabled to design a flexible approach to catering to the needs of the target audience and promote its product to the latter.

Additionally, the information regarding the inflation rates in different regions of Canada will provide the premises for designing the further strategy for expansion into different markets of the state. There is no need to stress that adjusting to new market conditions is always stressful for an organisation; the information provided in the report, in its turn, will facilitate the process, making it much easier.

Therefore, the report in question can be recommended to a small business owner, who is planning to expand into the Canadian market or further. Once a company sets the goal of exploring new markets, comparing the consumption rates within different regions of Canada makes sense; however, as far as local companies and entrepreneurships, including sole proprietorships, are concerned, a detailed study of the report in question does not seem necessary.

Conclusion

Offering an overview of the consumption rates across Canada, the Canada’s Municipal Spending Watch can be considered a rather important tool for analysing the general tendencies among the Canadian buyers. Despite minor dents in its design, the report covers most of the essential social and economic issues related to Canadian buyers. Therefore, the specified report can be considered a solid tool in defining a company’s further strategy in the Canadian market.

Reference

Gormanns, N. (2014). Canada’s Municipal Spending Watch. Web.

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Canada’s Municipal Spending Watch in 2014

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