Mayor John Tory speaks at the Globe and Mail Small Business Summit in Toronto on May 9, 2017.
Big thanks to all who attended The Globe's Small Business Summit on Tuesday. It was a great day and many new connections were made. Here are some highlights from the event, which featured Toronto Mayor John Tory, Sarah Richardson, Michael Serbinis from League and more. -Sarah Efron, Report on Small Business Editor
Six key takeaways from the Globe and Mail Small Business Summit
Steve Beauchesne of Beau's All Natural Brewing Company, learned that mistakes can drive innovation. "We spent two years developing our first batch of beer and we were confident we had it right," he says. But a third of the batch froze, creating a super-concentrated "8 per cent juggernaut" of a beer. "My aunt had three pints and she was wasted," he says. Full story
Toronto mayor Tory vows to modernize 'antiquated' regulations that thwart small business
Toronto Mayor John Tory has vowed to bring Canada's largest city out of the dark ages by modernizing a bureaucracy that grinds down small businesses rather than fosters their growth. Full story
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My startup has six co-founders. Here's how it works
Choosing co-founders to start a venture is one of the most important decisions an entrepreneur has to make. It's common to see a founding team with two or three members, but at Therapia, an on-demand physiotherapy platform, we have chosen a team of six co-founders, all of whom have different backgrounds and skill-sets, which we believe gives us a strategic advantage. Full story
Toronto company's new equipment could relieve vinyl pressing backlog
As production bottlenecks continue to squeeze vinyl records' remarkable resurgence, Toronto's Microforum Services Group is investing in a crucial but obscure step in their manufacturing – making the grooved metal pressing plates – in a move that could cut down lag times for Canadian artists and record companies who hope to take advantage of huge global demand for LPs. Full story.
Despite Wynne's rate drop, electricity costs continue to shock
An Ontario artisanal cheese maker wants to take his business off the grid and a food processor is being counselled to use more electricity in order to qualify for an energy-conservation program. These small- and medium-sized businesses (SMBs) are contemplating actions they normally wouldn't take in order to deal with Ontario's soaring electricity costs, even though the province has pledged more financial aid to relieve them. Full story
Realtors find a niche in clients who are getting divorced
Real estate agent Michael Shuster's first experience working with a client in the midst of a divorce was an eye-opener. It was just over four years ago and the house up for sale was attracting little interest. Two realtors had previously walked away from the client, unwilling to deal with the ex-husband, the lawyers and pressure from the mortgage lender. The client's angry ex-husband called Mr. Shuster at his office repeatedly and yelled at him. Full story
More small business news from around the web
Jamaican restaurant in Corner Brook now serving daycare
A Corner Brook restaurant, Taste of Jamaica, is trying to make Friday date nights easier by offering to watch and entertain kids while parents enjoy a meal. According to chef Kirk Myers the idea comes from customer feedback. Myers said he often hears from customers that the extra planning and cost to get a babysitter often prevents plans for a night out. Full story
The Amorist follows boom in indie magazines
The world of small magazines is a joyous thing," says Rowan Pelling, a Telegraph columnist and former editor of the Erotic Review. "Like small restaurants, you always want them to survive." Today she launches a new magazine, the Amorist, which she dubs "an erotic version of Woman's Hour". Full story
Hospitality industry gets new app to find wait staff for an emergency shift
Two Toronto entrepreneurs have developed an app that matches underemployed servers and barkeeps with employers who need good help fast. Full story
StandUp Ventures starts new fund for women-led seed-stage companies
Business Development Bank of Canada (BDC) and MaRS Investment Accelerator Fund (IAF) are launching StandUp Ventures Fund I, with a $5 million contribution from BDC Capital, and is seeking to raise additional capital from investors to a maximum of $15 million. Full story