Reeling from construction-related losses, Halifax small-business owners decry 'legislative void'
The sail-shaped towers of Halifax's Nova Centre will finally fill up with life next month. The sprawling, multiblock downtown office, hotel and convention-centre complex was designed as a metaphor – sails, clear icons of Nova Scotia's economic past, cast in glass on the skyline to guide its economic future.
Some of its neighbouring businesses, though, have given up on the future entirely. Since construction began in 2013, a coalition of local storefront owners have accused the Nova Centre development of cutting their annual revenues by about a third, losses that have so far prompted at least two to move to the city's North End and two more to sell their businesses altogether.
As the centre prepares for a December opening, almost two years behind schedule, those entrepreneurs have thrown in the towel in their attempt to be compensated for lost business.
This is the weekly Report on Small Business newsletter. If you're reading this on the web or someone forwarded this e-mail newsletter to you, you can sign up for Report on Small Business and all Globe newsletters here. Have any feedback? Let us know what you think.
Canada shouldn't aspire to be the new Silicon Valley
When you think of startups, Silicon Valley likely comes to mind. The birthplace of Apple, Google and thousands of other technology companies is often presented as the global pinnacle of innovation. As a consequence of this branding, Canada's respective technology ecosystems are often referred to as "Silicon Valley North." A Google search of the term generates millions of entries, including scores of articles from major news outlets using the phrase. Full story
Fintech disruption slowly building momentum in business school curriculum
The financial services industry has been flipped on its head in the past few years by the emergence of new technologies such as cryptocurrencies, automated business lending, crowdfunding and robo-investing.Most of this new technology is being driven by artificial intelligence, which uses computer systems to perform tasks that normally require humans, including data analysis, decision-making and speech. There's also machine learning, which gives computers the ability to learn and improve from experience without needing to be reprogrammed. If this all sounds eerily close to Ridley Scott's Blade Runner 2049 or Stanley Kubrick's 2001: A Space Odyssey, that's because it is. Full story
Ottawa backs away from grain tax changes
The Canadian government will not move ahead with Budget 2017's proposed elimination of grain cash receipts, Agriculture Minister Lawrence MacAulay announced Monday — an apparent response to pushback from farm groups. Full story
Accounts emptied without warning? Could be a problem with CRA, says taxpayers' ombudsman
Canada's Taxpayers' Ombudsman is investigating what seems to be a problem with the federal tax agency freezing and emptying accounts without warning. It's a problem that shut down a small business in St. ohn's last month. Full story
WeWork launches kindergarten for "conscious entrepreneurship"
WeWork says its mission is to help people do what they love. Now the office-sharing giant is testing that ethos on a smaller clientele: kindergartners. Full story
New funding on tap for craft brewers
The Government of Alberta has announced a $60,000 grant to Craft Breweries with the hope that it will help further grow the industry. Full story
Sask. government introduces small business, corporate income tax changes
The provincial government is rolling back its plan for an 11 per cent corporate income tax rate in favour of giving small business owners a tax break. Finance Minister Donna Harpauer introduce Bill 84 Monday, which will increase the small business income threshold from $500,000 to $600,000. This means any business making $600,000 or less will pay the two per cent small business tax rate instead of the corporate rate. Full story
Get Started: Mixed small business reception for GOP tax plan
The GOP's proposed tax overhaul is getting a mixed reaction from small business advocates, with some saying they hope the plan will be revised as it makes its way through Congress. Full story