Financing Your Small Business
Canadian Playbook for Growth Businesses
The Silicon Valley playbook doesn’t work outside of Silicon Valley, London, New York, or Shanghai. And it probably doesn’t work there either anymore – if it ever really did.
The good news is that Canada has some of its own advantages. But you’ll need to build your own playbook because they don’t sell them at Walmart – or at your local college.
The most important thing is to understand whether you’re an entrepreneur or you simply own a small business. There is nothing wrong with a lifestyle business. But, investors don’t like them – and you can’t commercialize a business without investors.
While a lifestyle business can sometimes morph into a growth business, it usually happens the other way around.
© steve blank
The Evolution of SR ED Tax Incentives in Canada
Canada’s SR&ED program is a lucrative Canadian government incentive for businesses conducting eligible research and experimental development.
It has a long history originating in 1985 and continues to be an important source of funding for innovative companies.
While not the first tax program designed to support research and development, it was the first to include more broadly defined “experimental development” activities. This had the effect of engaging small, innovative companies. To this day, about 95% of claims relate to experimental development.
In Budget 2022, the government stated that the program continues to be a cornerstone of Canada’s Innovation strategy by supporting research and development and encouraging Canadian businesses of all sizes to invest in innovation that drives economic growth.
For many years the Federal and provincial governments have combined to deliver about $4 billion in funding annually.
In this video, we follow the CRA’s evolving explanations of eligibility.
Government Incubators
How do you build an entrepreneur? Business schools – and incubators – have programs for that. They’ll sell you courses or consulting services. But how effective are they?
© steve blank
KISS SERIES The End of BookkeRishi Sunak wants us to live in the 'Unicorn Kingdom'eping
Rishi Sunak spoke at a gathering of business leaders called Business Connect yesterday where he called the UK the ‘Unicorn Kingdom’ as a way to attract start ups to the country and left people grimacing.
He said: “We just launched a campaign.. in Silicon Valley just talking about our companies, what they were doing. Some of our ministers were out there the other week.
“It was a huge success. It was called Unicorn… what was it called? ‘Unicorn Kingdom’!”