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Scheer promises to reverse Liberal small-business-tax changes
Conservative Leader Andrew Scheer said he would reverse most of the Liberal government’s changes to small-business-tax rules, although tax experts say the big winners would be business owners with more than $1-million in passive investments. Mr. Scheer, who held his announcement at a bar in Thorold, Ont., in the riding of Niagara Centre, said he believes governments should “get out of the way” and allow small businesses to create jobs and build the economy. Story
Deal to keep U.S. in international postal treaty good news for Canadian companies, business groups say
A last-minute deal that will keep the United States in an international postal treaty is good news for Canadian companies, business groups say. However, the agreement could increase costs for small e-commerce companies selling goods manufactured in countries such as China. Story
Taking over my family business was a minefield. Here’s how we made it work
In 2013, I was disenchanted with the legal profession and skeptical about the traditional legal model. There was so much that I wanted to do differently – for example, revamping billing practices and improving the work environment. Although I wanted to create an alternative law firm, I was not ready to hang out my own shingle. And thus began conversations with my father and uncle, two partners in a seven-lawyer law firm. I joined the firm with the understanding that I would be part of the firm’s succession plan. Story
Newfoundland software company Verafin secures largest ever Canadian venture deal with $515-million transaction
For the second time this month, a Canadian technology company has set the record for the largest venture funding deal in the country’s history. On Wednesday, Verafin Inc., a fraud-detection and anti-money-laundering software provider to financial institutions, announced it has struck a $515-million financing transaction that will keep majority ownership of the company in Canadian hands. The deal values St. John’s-based Verafin at close to $1-billion and surpasses the high-water mark for a Canadian venture financing deal set this month when Burnaby, B.C.-based Themis Solutions Inc. (which operates as Clio) said two U.S. financiers had invested $333-million in the legal software firm. Story
Yukon’s government and several First Nations invest in new Panache Ventures fund
The Yukon government and seven of the territory’s First Nations are the latest Canadian institutions to fund Canada’s thriving technology scene, backing a seed-stage venture capital fund founded by former principals of 500 Startups’ short-lived Canadian fund. Story
Canada is pushing its tech sector into a race to the bottom
It’s impossible to pinpoint exactly when Canada’s policy-makers started positioning the country as a cheap labour pool for multibillion-dollar foreign tech companies, but we know when it went mainstream: Amazon HQ2. In September, 2017, Seattle-based Amazon launched a continentwide search for a city to host its second headquarters. From Wilmington, Del., to Winnipeg to Woonsocket, R.I., towns, cities and regions from across North America – a staggering 238 to be exact, though unsurprising given the stakes – put forward proposals outlining why they should become the e-commerce giant’s new home. Story
After the Theranos failure, here’s how you look for clues to spot overhyped startups
Infamous blood-testing startup Theranos failed spectacularly last fall, but only after investors poured US$1.4-billion into what proved a hoax. In this case, founder Elizabeth Holmes, whose trial is next summer, has been accused of crossing the line separating hyperbole from felony. But many entrepreneurs have long practised this “fake it until you make it” approach. In the age of digital disruption, this ethos is, if anything, more prevalent than ever. Story
WHAT WE’RE READING ELSEWHERE
‘Hurry up’: Small Halifax businesses lose profits, employees due to toppled crane delays
It has been two weeks since a downtown Halifax construction crane fell due to hurricane Dorian, and left a popular block closed to traffic of all kinds. Tenants have been displaced and businesses continue to be closed. Global News
Subway got too big, too fast. And franchisees paid the price
Manoj Tripathi couldn’t shake the feeling that someone had a vendetta against his Subway sandwich shop. A franchisee for nearly two decades, he had done everything he could to keep his restaurant, in a strip mall in Northern California, in perfect condition. But lately it seemed like someone was out to get him. Financial Post / New York Times
Sarah Efron