Numbers are down…costs are up!
Nationally, consumer insolvencies are down, largely across the country year over year to the end of February 2018. But you already know this. You feel it on your intake lines and in your web traffic and contacts.
At the same time, governments tinker with minimum wages and other social policies that directly impact your human costs (and in the end, we in this profession are very much concerned about the people we both employ and assist), putting pressure on your bottom line.
Additionally, we are sensing a fragmentation of the market. There have been recent consolidations in various regions. More and more of our younger members in the profession have gone out on their own. This has all lead to healthy competition for files, but at an added cost to attract and retain your existing business sources.
Cynically, some might point out that these same pressures on other businesses and Canadians may yet lead to an overall uptick in filing numbers, but we are all concerned about the here and now.
But don’t panic!
I understand those pressures. My colleagues at Aryza understand those pressures. We are here to help you relieve them, while also remaining relevant and competitive in an ever-changing insolvency landscape.