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Small Business Report on Small Business Newsletter: Vancouver-area legal software company Clio raises $250-million in venture capital funding

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Vancouver-area legal software company Clio raises $250-million in venture capital funding

A Vancouver-area software firm that helps lawyers manage their practices over the internet has secured the largest single venture-capital financing in Canadian history. Themis Solutions Inc., which operates as Clio, was set to announce Wednesday that American growth equity firms TCV and JMI Equity are investing a combined US$250-million ( in equity for a minority stake in the 11-year-old company based in Burnaby, B.C. The parties did not disclose how much of the proceeds will go to buy out existing shareholders. Story

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Entrepreneurs look to TIFF celebrities to boost their brands

When rapper and actor Method Man stepped onto the Toronto International Film Festival (TIFF) red carpet at the premiere of his 2014 comedy The Cobbler, he was wearing something that made fans do a double take. Atop his head was a “Toronto” emblazoned tuque made by local apparel retailer Tuck Shop Trading Co. It had landed in the hands of Method Man when owner Lyndsay Borschke offered it at a TIFF gifting lounge. Story

Montreal’s Repare Therapeutics raises $82.5-million to advance cancer-fighting drugs

A Montreal biotech developer aiming to create “precision oncology” drugs that target cancerous tumours has secured US$82.5-million in financing from several U.S. and Canadian investors. Story

Canada’s new IP collective is a win for Canada’s scaling companies

As a company evolves from a startup to a scale-up – a company that is rapidly expanding and commercializing ideas in global markets – their intellectual property (IP) requirements change. Story

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Manitoba Liberals, NDP promise sick note ban, tout $15 minimum wage pledge

Manitoba New Democrats and Liberals were promising to make the lives of workers better Monday while using Labour Day as a backdrop. Both are committing to raising Manitoba’s minimum wage to $15 an hour from the current $11.35 rate and both parties said they would introduce a ban on employers asking for sick notes for an illness that lasts 72 hours or less. CBC

‘Back to reality’: Commercial drone bubble bursts, wiping out startups and hammering VC firms

New commercial drone businesses flooded into the market at the start of the decade, flush with venture capital and giddy with visions of unmanned aircraft being used for everything from delivering packages to fertilizing farmland. Unmanned aircraft are still seen as a pillar of the future. But for now, all that over-heated enthusiasm is getting a cold blast of reality. London Free Press/Bloomberg

Manitoba PCs promise tax interest surcharge rollback for small businesses

Small Manitoba businesses that are late paying their taxes or have been found to not have remitted enough will be charged a little less in penalty fees if the Progressive Conservatives are re-elected, party leader Brian Pallister says. CBC

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‘Systems are going to start going down’ say IT contractors, as Alberta government stops renewing contracts

CBC News has spoken to four IT contractors who say the Alberta government’s decision to stop renewing contingent labour contracts two months ago is hurting small business. They say it’s likely taking money out of the province and could have major service impacts for Albertans. CBC

Big Rock the big winner as Alberta adjusts tax structure for craft breweries

The Alberta government will adjust its beer tax policy to benefit larger brewers, a move that comes months after Calgary-based Big Rock Brewery blamed the existing tax structure for its recent financial losses and layoffs. Calgary Herald

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