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Small Business Report on Small Business Newsletter: Medical devices pulled from Canadian market due to new Health Canada rules

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Medical devices pulled from Canadian market due to new Health Canada rules

Hundreds of different types of medical devices are being pulled from the Canadian market because of a new Health Canada safety audit that some manufacturers argue is too costly to carry out. While Health Canada says most of the manufacturers leaving have little or no sales in the country, distributors say patients could be left without necessary devices and their health could be jeopardized. Story

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Despite new labour rules, some Ontario employers are boosting minimum wage, keeping paid sick days

Despite intense pressure to keep costs low, HotBlack Coffee on Toronto’s bustling Queen Street West will raise its wage for new employees to $15 on Jan. 1, the day Ontario’s minimum wage would have risen from $14 to $15 under previous government legislation. The shop is among a small group of Ontario businesses planning to stick with rules from the Liberal government’s Bill 148, the Fair Workplaces, Better Jobs Act, even though they are no longer obligated to do so. Story

Legalization brings challenges for marijuana ‘head shops’

Neighbourhood head shops have long been go-to destinations for bongs, pipes and other marijuana accessories, but some are struggling in the face of new competition since cannabis was legalized. Story

Canadian couple’s South American surf school caters to globally minded workers

Four years ago, Amy Schwartz and John Furness traded a cold winter in Halifax for a sunny surf town in South America. Ms. Schwartz took a four-month sabbatical from her posting as a senior policy analyst with the provincial government, while Mr. Furness worked remotely for his web-design company. Story

These successful entrepreneurs have one thing in common – they all received a Loran student award

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Breanne Everett of Calgary took a break from a promising career as a plastic surgeon to start Orpyx Medical Technologies Inc., a business making smart shoe-inserts to ward off potentially serious diabetic foot complications. Story

Bank ‘slugfest’ leaves Canadian tech sector piled high with cheap debt offers

Canadian scale-ups and venture-capital-firm partners spent much of the past year watching offers for debt financing pile higher than they can ever remember. In interviews with The Globe and Mail, founders, partners and lenders used phrases like “slugfest” and “arms race” to describe the phenomenon. Both Canadian and American banks are racing to serve young tech companies, by improving loan terms and shoving down rates. This has reshaped how Canadian tech startups secure financing: Debt is so cheap that some small companies that would have never considered it are taking it on as a cushion, giving them extra runway between equity raises without diluting founders’ ownership. Story

Artificial intelligence reduces the pain of online bookkeeping

Whether someone grows up wanting to be a photographer, a writer or to partake in any other skilled freelance or self-employed craft, they generally don’t get into it for the love of filing taxes. But that’s exactly where Ian Crosby sees Bench, a Vancouver-based online accounting firm, fitting into the work landscape, helping small businesses to stay on top of their financial obligations. Story

WHAT WE’RE READING ELSEWHERE

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Toronto-based startup The Gist offers sports news by women, for women

A local by-women, for-women sports news outlet began as a typical girls’ night, with a bottle of wine and an order of takeout between friends. Ellen Hyslop, Jacie deHoop and Roslyn McLarty, then working in the financial services sector, were talking about a recent Toronto Maple Leafs game at McLarty’s house one night in February 2017. Toronto Star

How a P.E.I. entrepreneur is cashing in on the latest beer trend

Jordan Stetson of Freetown, P.E.I., believes he is Canada’s first manufacturer of foeders — large wooden barrels used to age beer, wine and spirits. The vessels have long been used to ferment wine and spirits and can last for decades, but now craft breweries in North America are using the casks to brew up tasty new creations like sour and aged beers. CBC

Small biz owners get runaround from Service Canada: study

Only one-third of small business calls to Service Canada result in accurate, adequate information on the first try, a Canadian Federation of Independent Business (CFIB) study has found. Advisor

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