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Small Business Report on Small Business Newsletter: Ontario entrepreneur’s gluten-free pasta takes off with consumers

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Ontario entrepreneur’s gluten-free pasta takes off with consumers

In a world of grandiose business models, Shelby Taylor had a business pitch that couldn’t be more basic: chickpea lentil pasta. Such a simple idea – a nutrient-rich, two-ingredient pasta, seeking to improve upon a common staple – enabled Chickapea, her Collingwood, Ont., company, to expand to grocery chains across North America in just four years, riding the surge in demand for healthier food. Story

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New venture capital fund helps Indigenous businesses scale

A new Indigenous-led venture capital fund will provide capital and support to Indigenous social enterprises across the country. “We’re an Indigenous intermediary working with Indigenous businesses, bridging the space between non-Indigenous private capital and the Indigenous businesses,” says Jeffrey Cyr, a managing partner at Raven Indigenous Capital Partners. Story

Toronto’s Wave Financial purchased by H&R Block for $537-million

Toronto accounting software firm Wave Financial Inc. has been purchased by tax services giant H&R Block, Inc. for US$405-million. It’s the latest in a string of “exits” – takeovers or initial public offerings – of venture-backed Canadian firms this year that have commanded relatively large valuations by historic standards, a sign that Canada’s surging early-stage tech sector is maturing. Story

Ottawa AI startup MindBridge secures $29.6-million in federal and venture capital financing

An Ottawa startup that is using artificial intelligence to transform how auditors and financial regulators unearth fraud and irregularities has secured $29.6-million in venture capital and government funding. Story

WHAT WE’RE READING ELSEWHERE

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Calgary’s small business owners to get break from rising tax bill

Complaining loudly about crushing tax hikes appears to have paid off for owners of small businesses in Calgary after moves by city hall that will see a 10-per-cent cut in non-residential property taxes this year. Council voted unanimously during an emergency meeting Monday to slash $60 million from its budget and pull nearly $71 million from its reserves for tax rebates. National Post

Quebec business owners say Groupon owes them cash as its northern presence fades

Some small business owners in Quebec say Groupon Inc. has left them in the lurch amid signs the company is scaling back its operations in the province. Eloise Lafreniere, who owns the Davelo Beauty Institute in the Montreal suburb of Carignan, says she hasn’t received a cent of the $11,500 she claims the daily deals company owes her following a promotional campaign for facials and other treatments at her salon in February. BNN Bloomberg

Noblegen secures $25M in financing to expand production

Noblegen Inc., an advanced ingredient startup business, has secured $25 million in financing to increase production. The company makes nutritious and high functioning proteins, carbohydrates and oils from algae. The ingredients are produced using a minimal amount of water and land, by using fermentation technology. Peterborough Examiner

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Harry Potter festival vanishes from Kensington

Muggles in Calgary will have to find another way to marvel in magic culture. The annual Harry Potter-themed festival in Kensington has been banished to Azkaban after a licensing dispute forced local businesses to end the summer favourite. CTV News

Kenney government introduces bill allowing multi-year tax incentives for business

Municipalities in Alberta could soon provide longer-term tax incentives to companies to attract and keep businesses. Jason Kenney’s United Conservative government introduced Bill 7, the Municipal Government (Property Tax Incentives) Amendment Act, on Tuesday afternoon. Global News

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