Feds reject Fintech help to SMEs during Covid-19 crisis

Trudeau government siding wth traditional banking over the interests of small companies looking to survive the pandemic

Feds reject Fintech help to SMEs during Covid-19 crisisBy Paz Gómez Research associate Frontier Centre for Public Policy The Liberal government has blocked financial technology (fintech) companies from distributing aid to businesses affected by the pandemic. In the age of cryptocurrencies and investment services like Robinhood, the government clings to banks and relics such as cheques by mail. PayPal, Wave and the Canadian…

Fill those profit holes before they sink your business

Unless you’re a careful operator, you may find yourself among the 60 per cent of businesses where the owners receive very little money at the end of the day

Fill those profit holes before they sink your businessIt was serious business! My brothers and I were neck deep in it. We were digging to China when we were interrupted by the call by our mother for dinner. Digging holes is something boys do. We dug holes for forts, holes for adventures and holes in search of gold. My son at the age of three dug…

In times of crisis, we need to give more

Seven in 10 charities report lower revenues. As a whole, the sector has had to lay off 84,000 full- and part-time staff in Canada

In times of crisis, we need to give moreThe pandemic hasn’t been all bad for us. For some Canadians, it’s actually meant a bit of a financial boon. That’s not to say there haven’t been massive job losses and income losses. It’s just that the losses have happened unequally. The poorest and the youngest took the worst hit. When think-tank Cardus analyzed the…

Success begets success in crowdfunding, study shows

But if entrepreneurs can’t follow in the footsteps of blockbuster ideas, they should aim to come in behind campaigns that nearly reached their goals

Success begets success in crowdfunding, study showsEntrepreneurs looking to raise money on crowdfunding sites are better off following in the footsteps of ideas that fell just short of their fundraising goals than coming in behind projects that enjoyed modest success, according to a study that proposes the role of the entrepreneur might be to grow the pie for all and not…

Getting an investor to move from “not now” to “yes”

Investing is a process and not a speed dating event. If you develop relationships with investors, you’ve got a much better shot of closing the deal

Getting an investor to move from “not now” to “yes”Getting a “no” from any prospective investor can be hard to take. At first glance, it’s insulting. You’ve poured heart and soul into an idea and after 10 minutes of pitching, the investor doesn’t want to hear more. For the entrepreneur who wears the success or failure of his company as a reflection of their…

Capital gains tax hike would cripple investment

Increasing the federal tax would be anti-investment, anti-entrepreneurship, anti-innovation and anti-green

Capital gains tax hike would cripple investmentBy Niels Veldhuis and Jake Fuss The Fraser Institute At a time when the country faces momentous economic challenges, it’s hard to think of a more damaging policy than a capital gains tax hike. Yet rumours persist that prior to the COVID-19 crisis and economic downturn, that’s exactly what the federal government planned to do.…

Talk to your venture capitalist before you crash and burn

Open communication with your VC can help you, your company and your longer-term prospect of later support

Talk to your venture capitalist before you crash and burnEverything is positive when a new venture begins. There is a rush of excitement, people are fully committed, hours are long and creativity is cranked to its peak. The traction, media attention or buzz will soon bring you to the notice of venture capitalists. Cash comes in and everyone is pumped up. The founders are…

What does the future hold for Canada’s airline industry?

Huge financial losses, massive layoffs and stringent safety protocols for the few remaining passengers sets a dark tone

What does the future hold for Canada’s airline industry?Many Canadians look forward to travelling when the COVID-19 pandemic comes to an end (whenever that may be). Unfortunately, flying the friendly skies is quickly becoming far less friendly. Air Canada temporarily suspended all flights to the U.S. on April 26. Passengers are required to wear masks for the entirety of any trip, and flight…

Rise of shadow banking a victory for consumers

Hedge and private-equity funds, mortgage lenders, and money-market funds provide accessible sources of credit

Rise of shadow banking a victory for consumersBy Paz Gómez Research associate Frontier Centre for Public Policy Shadow banking is growing by leaps and bounds in Canada. It’s a C$1.5-trillion industry that expanded by 30 per cent between 2015 and 2017, according to a recent Bank of Canada report. The banking establishment fears a challenge to its power, but consumers benefit from greater…

Zombie firms a danger in post-COVID-19 economy

Government actions to reduce financial pressure on firms create dangerous conditions over the longer term

Zombie firms a danger in post-COVID-19 economyWe spend double the amount of time on our streaming platforms compared to last year, close to 45.4 billion minutes on Netflix alone in the first few weeks of March 2020. Movie titles such as 28 Weeks Later, Quarantine,  Carriers and I Am Legend have provided an escape from our quarantined hideouts. Unfortunately, such movies about a…

Discovery Lab helps science geeks break out of university labs

Discovery Lab assists spin-outs, start-ups, and companies find the support and expertise needed to launch, grow or rethink their plans

Discovery Lab helps science geeks break out of university labsThe day was like a Dragon’s Den for clinical scientists. Most of the nine presenters to a recent Discovery Lab advisory panel devoted decades to their investigations for the betterment of society. The forum for academics, start-ups, and entrepreneurs was co-founded by Michael Overduin and Cameron Smithers from the University of Alberta where 150 companies present…

The future of small business financing

The growth of small businesses is fundamental to prosperity but we can’t provide the sector the financing it needs by maintaining the status quo

The future of small business financingThe notions of commerce, currency, and credit are nothing new. For centuries, we've found ways to barter, borrow, and repay one another through the exchange of goods, services, or credit. Exchange aside, every form of currency has an assigned value agreed upon by the individuals or organizations participating in the transaction. Need a house or…

SkipTheDishes co-founder starts venture firm in Calgary

Harvest, a not-for-profit, aims to provide founders with disruptive ideas with world-class talent, funding and support

SkipTheDishes co-founder starts venture firm in CalgaryOne of the co-founders of the SkipTheDishes home food delivery service has launched a initiative called Harvest to help boost budding entrepreneurs.  Harvest, a not-for-profit, aims to provide founders with disruptive ideas with world-class talent, funding and support to turn their ideas into globally competitive companies. The company will leverage infrastructure that built SkipTheDishes as…

BDC gives entrepreneurs both financing and advice

The Business Development Bank has extended its presence in Alberta and added business centres in Calgary and Edmonton

BDC gives entrepreneurs both financing and adviceMichael Denham is President and CEO of BDC (Business Development Bank of Canada) A lot of people don't really know what BDC is, can you explain what you do and your focus? Denham: BDC is Canada’s bank for entrepreneurs. For 75 years and counting, our sole purpose has been to support entrepreneurs in all industries…
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