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Small Business Briefing

Young entrepreneurs pack their bags Add to ...

The latest news and information for entrepreneurs from across the web universe, brought to you by the Report on Small Business team. Follow us on Twitter @GlobeSmallBiz

Thirty rising stars off to France

After more than a month-long call call for applications, The Canadian Youth Business Foundation revealed the names of the 30 young entrepreneurs who will form the official Canadian delegation at the G20 Young Entrepreneur Summit (G20 YES) in Nice, France.

From October 31 and November 2, 2011, entrepreneurs from the G20 countries will come together to identify the ways that governments and business communities can best harness the potential of young entrepreneurs. Resulting recommendations will then be officially handed to the G20 leaders on November 3rd in Cannes.

"These dynamic young delegates have been selected for their role as Canada's job creators and innovators. Hailing from the four corners of our country and focused in diverse sectors of our economy, they have an impressive depth of experience and insight to offer to the G20 leaders and their fellow entrepreneurs,"explains Vivian Prokop, chief executive officer of the CYBF and founding chair of the G20 Young Entrepreneurs' Alliance.

CYBF hosted the inaugural G20 YES in Toronto last June, inviting 200 young entrepreneurs to participate in the development of a communiqué delivered to the G20 leaders. The Summit also resulted in the creation of the G20 Young Entrepreneurs' Alliance, an international network of like-minded organizations supporting youth entrepreneurship.

Can Mississauga become the next Waterloo?

Mississauga, the sixth largest city in Canada, is taking steps to transform itself into a centre for creativity and innovation.

A 10-point 'Action Plan for Innovation' was submitted today to the City of Mississauga and the RIC Centre (Research, Innovation and Commercialization).

The report, which you can view here, was commissioned to look into developing innovation capacity by connecting talent to the business community, and points out, “what the city does lack, though, is a meeting place to promote connectivity and a coherent approach to better capitalize on the post-secondary assets for training, education, and R&D purposes.”

Many of the recommended actions focus on finding and developing 'talent' in people interested in innovation, and emphasizes the value and potential of working with Sheridan College and the University of Toronto Mississauga.

Borrowing growth eases in July

U.S. small business borrowing cooled off slightly in July, held back by uncertainty over U.S. economic growth and the debt crisis, according to this article from Reuters.

The Thomson Reuters/PayNet Small Business Lending Index, which measures the overall volume of financing to U.S. small businesses, gained 13 per cent in July from a year earlier, according to PayNet. That followed a revised 22 per cent gain in June, and a 27 per cent gain in May.

As measured from a month earlier, the index declined 7 per cent, and is now just above the level reached in April. The setback illustrates the 'saw-toothed' pattern of the current recovery, said William Phelan, PayNet's president and founder.

"It's two steps forward, one step back," Mr. Phelan said in an interview. "It's really an indication of the slow growth of activity."

Borrowing by small businesses is seen as a harbinger for the broader economy because they account for as much as 80 percent of new hiring.

The Federal Reserve earlier this month promised to keep rates exceptionally low for another two years to support the ailing recovery.

EVENTS AND KEY DATES

Get connected

The 15th annual SOHO|SME Expo is taking place on September 30 at Hyatt Regency, Vancouver and October 26 Sheraton Hotel, Toronto. The conference offers resources and tips, expert panels and presenters and the opportunity to network with other businesses.

For women, by women

With a newly improved format and a power-packed roster of speakers, The NAWBO® Women’s Business Conference 2011 - which takes place today and tomorrow - promises to be "a high-energy, high-impact conference designed especially for women entrepreneurs who want to take their business to the next level of success."

EDITOR'S PICKS FROM REPORT ON SMALL BUSINESS

Hamilton's hub for aspiring entrepreneurs

Kristin Huigenbos, manager of Hamilton's Small Business Enterprise Centre, explains what City Hall is doing to help entrepreneurs understand the obstacles and opportunities of starting a new business.

FROM THE ROSB ARCHIVES

Spying on competitors can be road to ruin

You have to live with the decisions you make, and your firm’s reputation depends on them

Got a tip on news, events or other timely information related to the small-business community? E-mail us at yourbusiness@globeandmail.com

Join The Globe’s Small Business LinkedIn group to network with other entrepreneurs and to discuss topical issues: http://linkd.in/jWWdzT

 

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