4 Pillars Consulting Group consults clients in a recession proof industry that has experienced a steady and consistent growth pattern for over 20 years. With the ease of credit and society's new attitude of buy now and pay later this industry is one of the hottest markets to operate a business. Everyday all across North American thousands of individuals experience financial hardship and seek help to their problems.
| 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| No. of Credit Cards (millions) | 31.9 | 35.3 | 37.7 | 40.1 | 44.1 | 49.4 | 50.4 | 53.4 | 56.4 | 61.1 | 63.9 |
| Credit Cards with balances (millions) | 15.0 | 16.0 | 17.3 | 18.5 | 19.6 | 20.8 | 22.2 | 23.2 | 24.6 | 26.4 | 27 |
| Net Dollar Purchases (billions) | $84 | $93 | $106 | $125 | $138 | $154 | $172 | $192 | $216 | $243 | $275 |
These statistics are only related to Visa and Mastercard and does not included American Express, Diners, or Department Store cards such as Sears, The Bay and Zellers.
In today’s economy, more and more Canadians are living beyond their means, causing increased financial stress which requires professional solutions. The founders have seen the Canadian Insolvency Industry continue to grow over the last several years, with total consumer insolvencies being 101, 206 (an increase of 2.8%) in calendar year 2007 according to Industry Canada (Office of Superintendent of Bankruptcy).
Total consumer insolvencies rose sharply during the 1990 to 1997 period, flattened out for a few years and then resumed their upward trend. Insolvencies have been above 100,000 during the last five years. Much of the growth has been in proposals, where consumers make a deal to pay off part of their debt rather than declare outright bankruptcy. (*)
| 1996 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|
| 95,852 | 90,104 | 94,958 | 99,795 | 105,853 | 104,798 | 111,413 | 110,940 | 111,807 | 106,629 | 108,830 |
By operating a 4 Pillars Consulting Group franchise you are position yourself for an industry that is on the verge of another growth spurt according to Roger Sauve from People Patterns Consulting a well known economist who has been writing reports for the Senate for over 30 years. Current trends suggest that insolvencies will rise to 170,000 by the year 2016 as consumer debt continues to rise as a percentage of real household income.
(source: The Vanier Institute of the Family, The Current State of Canadian Family Finances 2007 Report by Roger Sauve)
