Yvonne Berg
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Confident Canada registers lots of new businesses
Canada is the only G20 country able to claim that high levels of confidence among entrepreneurs are reflected in a similarly high number of new businesses registered. A new report from Ernst & Young finds Australia also performs well on both counts, though it lags well behind Canada. For all other countries, there are significant opportunities for improvement on one or both of these key measures of entrepreneurship
Entrepreneurs speak out: The Nice Côte d'Azur 2011 Entrepreneurship Barometer points out that Britain is the leading country in terms of new business density — scoring higher than Canada. Russia and France also performed well on this scale. But British entrepreneurs are only moderately confident about their country, with 32 per cent rating the United States as having the most favourable environment for entrepreneurs.
A lack of confidence is even more acute in Russia, and especially France. The report states that it would be beneficial for these governments to get at the root cause of these low levels, which often appear more closely related to perception than reality.
With the exception of Russia, and to a lesser degree Brazil, the G20 rapid-growth countries all suffer from relatively low new-business density. Possible explanations are many, but a lack of confidence in their country's environment for entrepreneurs is not one of them. Most of them, aside from Russia, boast moderate to high levels of confidence, with Brazilian entrepreneurs being particularly confident — more so than any other G20 country other than Canada.
The strength of confidence in Brazil likely explains why it has the sixth-highest new business density, despite serious challenges including access to funding, regulation and taxation.
The report emphasizes not only what governments can do, but also what entrepreneurs can do "to seize opportunities presented by the environment in which they operate." It was released to coincide with the G20 Young Entrepreneur Summit, which starts in Nice, France on Oct. 31.
Women entrepreneur finalists announced
RBC has announced the finalists for its 2011 Canadian Women Entrepreneur Awards, which aim "to provide national recognition to Canada's women entrepreneurs, whose successful businesses and achievements contribute so much to the Canadian and global economies as well as to their communities." RBC says it is seeing an increase in the number of female entrepreneurs in non-traditional industries such as finance, film, construction, oil and gas, and transportation. It also points out that Canadian firms run by women create new jobs at four times the rate of the national average, and that the number of women with incorporated businesses more than doubled in the past decade. The ceremony will be held on Nov. 28, at the Fairmont Royal York Hotel in Toronto.
Steve Nash gets stylish with suit line
Basketball star Steve Nash has launched his first line of designer suits with Canadian custom men's apparel brand Indochino, which he joined as an investor earlier this year. The Steve Nash Collection includes six custom-fit suits made from Merino Wool, as well as silk ties, pocket squares and contemporary cufflinks. "Indochino helps men dress stylishly without breaking the bank and to be a part of that by launching my own line is very special. I'm looking forward to hearing what people think of the collection and believe it will be positive," Mr. Nash said in a press release. Mr. Nash is a friend and business partner of Indochino chairman Jeff Mallett. They are co-owners of the MLS soccer team Vancouver Whitecaps, and Mr. Mallett is a principal owner of Major League Baseball's San Francisco Giants. The former president and COO of Yahoo introduced Mr. Nash to the company as a result of their shared interest in men's fashion.
Leonardo DiCaprio jumps on startup train
Leonardo DiCaprio has joined the list of celebrities investing in tech startups, Mashable reports. Social-media firm Mobli announced this week that Mr. DiCaprio, who will take on an advisory role, was part of a $4 million (U.S.) seed round it raised from "high-profile investors." Some of its well-known users include Paris Hilton and David Arquette. Mr. DiCaprio uses the platform, but sparingly. He's posted seven times, but managed to collect more than 8,000 followers along the way. Other celebrities are also stepping into the tech startup game. After several years of behind-the-scenes investing, Two and a Half Men star Ashton Kutcher is now considered a regular on the circuit of go-to guys for companies looking for seed money. And Justin Bieber has been doing some startup shopping of his own.
EVENTS AND KEY DATES
Investing and exiting in turbulent times
Three years after the peak of the global financial crisis, volatility and uncertainty has returned to capital markets and the global economy. The outlook for credit markets, equity markets, and economic growth are all in question. How are these developments affecting private equity and venture capital? What are the implications for Canadian sponsors as they seek to make new investments and exit current investments? Hear leading Canadian investors and capital markets participants discuss their views. Join your industry colleagues at this half day seminar presented by Canada's Venture Capital and Private Equity Association (CVCA), which takes place in Toronto with video broadcasts into Vancouver, Calgary, Winnipeg, Ottawa, Montreal and Halifax. In Toronto the networking lunch begins at noon, followed by seminar 1:30 to 5:00 pm EST.
Opportunities in Brazil
The Brazil-Canada Chamber of Commerce and Foreign Affairs and International Trade Canada are hosting a breakfast seminar related to trading and logistics opportunities in Brazil and Canada. The Nov. 2 event in Toronto will promote awareness of existing opportunities, and It will cover areas such as legal, tax and regulations related to requirements and challenges for importing and exporting. It will also provide "a unique opportunity to exchange ideas, network and discuss them with the participants and speakers."
EDITOR'S PICKS FROM REPORT ON SMALL BUSINESS
A new field of chemistry
When his two-year-old son died, a question haunted Dr. John Warner. A senior research scientist at Polaroid Corp., he wondered if something he handled in the lab might have caused the birth defect that killed his son. That question led Dr. Warner to help create a new field of chemistry – green or sustainable chemistry, the first Canadian conference on which was recently held at Queen's University in Kingston, Ont.
FROM THE ROSB ARCHIVES
Rose-coloured glasses
On June 23, 2010, Laura Blenkinsop reported that while the coming G20 had sent Toronto's financial-district workers scrambling to the suburbs, some small businesses near the affected sites were planning to stay open and they were hoping the crowds would bring in more cash than problems. The rest, as they say, is history.
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Sean Stanleigh