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Report on Small Business Newsletter: Ontario government plans to track retail sales electronically to reduce tax fraud

Electronic cash or modern cashier standing at the counter in a large empty store dressing room

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Ontario government plans to track retail sales electronically to reduce tax fraud

Buried deep in the Ontario budget bill is a section that has made some small business owners irate. It’s called the Revenue Integrity Act, and it states that businesses must record their sales using an “electronic cash register that meets prescribed requirements,” with fines of up to $10,000 for those who don’t comply. Full story

Small-business owners worried about NAFTA can breathe a sigh of relief

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The headlines about the NAFTA renegotiations have been jarring for Canadian business owners. Almost daily, they hear that the talks are going well or that they are going poorly, and it’s hard to know what any of it means for those trying to sell their products and services in the U.S. market. At the Globe and Mail Small Business Summit, held in Toronto on May 8, Laura Dawson, director of the Wilson Center’s Canada Institute, said there is less to worry about than recent headlines suggest. Full story

Europe’s GDPR rules mean big changes for businesses in Canada

Small-business owners who have a website with analytics-reporting tools, run online ads or use an e-mail marketing system have received a message in the past few weeks, urging them to update their account settings to comply with the GDPR. This has left many wondering “what’s the GDPR?” Full story

Former Canadian naval officer goes Down Under to steer startups

With a population of just 25 million and whole oceans separating the country from major financial centres, Australia can be a hard place to raise significant capital. Its biggest recent tech success story, the enterprise software company Atlassian Corp. PLC, bypassed the Australian Securities Exchange in 2015 to list on the Nasdaq. Full story

Terminal, a startup that helps U.S. tech firms access Canadian talent and tax credits, plans expansion

A San Francisco startup advised by former prime minister Stephen Harper that was established to help American tech firms access Canadian engineering talent and tax credits plans to expand further into the country with an investment from leading American venture-capital firms. Full story (for subscribers)

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Small businesses to government: payroll tax stunts our growth

Some small-business owners are anxious to get their voices heard by the provincial government’s small-business task force. The task force, announced in early May to come up with recommendations to strengthen the sector, will have to contend with frustration over the B.C. government’s introduction of a payroll tax in the latest budget. Although the small-business income tax rate was reduced to 2% from 2.5%, a new payroll tax was introduced for businesses with payrolls above $500,000. Full story

Flatrock pot shop rejects retail licence, says new rules bad for small business

One of 24 Newfoundland and Labrador retailers approved to sell marijuana once it is legal has turned down its retail license, saying the province’s rules favour large corporations. Dee Dee’s Shop was approved by Cannabis N.L. to open a marijuana business in the Flatrock area of Newfoundland’s Avalon Peninsula, but owner Danielle Campbell said it decided to decline the licence after doing some research. Full story

Seeking cannabis entrepreneurs, Canopy looks to invest $1M in seed capital

One of the country’s largest cannabis growers is looking to invest up to $1 million in startups within the budding industry. Ottawa-area pot producer Canopy Growth and its investment affiliate, Canopy Rivers, are hosting a pitch day next month at the International Cannabis Business Conference in Vancouver. Full story

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‘Hollywood is starting to notice’: Toronto startup Wattpad eyes more film, TV deals

With a slew of TV and film deals recently announced, Toronto-based startup Wattpad is casting its story-telling platform into Hollywood’s limelight amid growing interest from producers. Full story

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