Banana importer is trying to push Fairtrade into the mainstream

The banana might be the most inexpensive fruit in the produce section, but it should not be, says Jennie Coleman.

“It comes from far away, it is extremely sensitive, and if the temperature goes down or up, it hurts the fruit very quickly,” states Ms. Coleman, who is president of an importer based in Montreal. “And yet, it is such a affordable fruit.”

According to Statistics Canada, the average price of peanuts is about $1.55 per kilogram, or 70 cents a pound. That is cheaper than apples, oranges, carrots and potatoes. read more

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Catch up on the latest federal government Taxation changes

It has been a week of near-daily policy statements on small-business taxes. Here’s a summary with the newest:

  • The national government will move forward on an election pledge to reduce the from 10.5percent by 2019
  • Strategies to prevent allowing income splitting for family members not active in a company will proceed; Finance Minister Bill Morneau said the proposal will be “simplified”
  • The authorities won’t move forward with proposed measures to restrict access to the Lifetime Capital Gains Exemption
  • Proposed rules to discourage using corporations for passive investment will proceed forward, but a brand new annually to be exempt from the new higher taxation. As an instance, that means $1 million held within a corporation could make a 5 percent rate of return and that earnings could be taxed under the rules
  • The government is scrapping suggested rules intended to curtail the conversion of , which caused concern in regard to intergenerational transfers and insurance policies held within corporations
  • Morneau promised incentives will be preserved for venture capitalists and angel investors. Consultations will be held on how this can be achieved
  • read more

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    Report on Small Business newsletter: What happened with the National tax proposals this week

    Small Business Week began with a bang with the statement that the government is reviving a campaign promise to drop the small business tax rate. It was part of a string of almost daily policy announcements this week to attempt and appease small business owners who had been angered by a set of proposed tax changes aimed at personal integrated companies announced in July?. It has been a lot to digest, so here is a quick recap, with links to full stories below.

    • The federal government will proceed on an election pledge to reduce the small business tax rate to 9 percent from 10.5percent by 2019
    • Strategies to prevent allowing income splitting for family members not active in a company will move forward; Finance Minister Bill Morneau said the proposal will be “simplified”
    • The authorities won’t move forward with proposed measures to restrict access to the Lifetime Capital Gains Exemption
    • Proposed rules to discourage using corporations for passive investment will proceed forward, but a brand new threshhold will allow $50,000 in income to be exempt from the new higher taxation. As an instance, that means $1 million held within a corporation could make a 5 percent rate of return and that earnings could be taxed under the old rulesnbsp;
    • The government is scrapping suggested rules intended to curtail the conversion of income into capital gains, which caused concern in regard to intergenerational transfers and insurance policies held within corporations
    • On Friday a further announcement is expected to address concerns raised by angel investors who feared increased taxation would give them less money to invest in startups.

    There are still a great deal of details that have yet to be announced. Stay tuned for updates at and on Twitter at – Sarah Efron, Globe and Mail Small Business Editor read more

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    Tax cut receives a lukewarm welcome from small-business owners

    Patrick Kerrigan certainly is not going to whine about Ottawa’s strategy to lower his corporate taxation, but he says the struggle to protect his little family business from other, possibly punitive tax changes is far from over.

    The president of Alpha Poly Corp., a manufacturer of flexible packaging based in Brampton, Ont., sees the decrease in the national small-business tax rate to 9 percent from 10.5 percent declared this week as the fulfilment of an election campaign promise.

    Mr. Kerrigan — who expects to transfer the company his father started 28 years ago to his children a while — is still concerned about the taxation proposals the government announced in July. While Ottawa is promising tweaks to this plan, parts of the proposals are expected to proceed and will lead to higher taxes for some small-business owners. read more

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    Tax cut receives a lukewarm welcome from small-business owners

    Patrick Kerrigan certainly is not going to whine about Ottawa’s strategy to lower his corporate taxation, but he says the struggle to protect his little family business from other, possibly punitive tax changes is far from over.

    The president of Alpha Poly Corp., a manufacturer of flexible packaging based in Brampton, Ont., sees the decrease in the national small-business tax rate to 9 percent from 10.5 percent declared this week as the fulfilment of an election campaign promise.

    Mr. Kerrigan — who expects to transfer the company his father started 28 years ago to his children a while — is still concerned about the taxation proposals the government announced in July. While Ottawa is promising tweaks to this plan, parts of the proposals are expected to proceed and will lead to higher taxes for some small-business owners. read more

    No Comments Categories: Small Business

    Minimum wage hikes can spur business owners to rethink how they Operate their Businesses

    Together with the Ontario minimum wage jumped to $14 an hour in January, small business owners will need to begin taking a look at everything from pricing to staffing to maintain payroll pressures in check. The sharp increase in prices could scuttle some companies. If managed intelligently, however, some business owners could come out ahead.

    “The intelligent business people may take this forced minimum wage, sick time and other things and really leverage it to their benefit,” states Steve Burke, an advisor with the Small Business Development Center at South Seattle, Wash., where the minimum wage has steadily been climbing toward $15 (U.S.) for many years. By Jan. 1, 2019, Ontario’s minimum wage will be $15 an hour. read more

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    Saddled with huge advertising costs, startup needs to find a Route to Gain

    It was while working as a freelance designer and assisting customers rebrand that Dawson Whitfield came up with the idea for his Toronto-based technology design firm,

    “At the end of the day, I was a glorified font-picker,” Mr. Whitfield says. “I felt like there needs to be a much better solution that takes the best things about working with a designer and the best things about doing it yourself.”

    Logojoy utilizes an artificial intelligence-powered online platform to assist small companies design and create logos without the need to associate with an individual graphic designer. read more

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    Target’s closure devastated my business. Here’s how we recovered

    Andrea Bau is a pharmacist in at Oshawa, Ont.

    On our way to work one dreary winter morning, my husband and I received shocking news. The Target Pharmacy we possessed had started on July 15, 2013, in Oshawa, Ont., and on Jan. 15, 2015, just 18 months later, we heard on the radio that Target was shuttering all of its Canadian department stores and leaving the nation.

    I panicked as I listened and ideas raced through my mind. We had recently moved to Oshawa, we’d just hired a new employee, and photos were taken and orders put only the previous week for advertising material. What were we going to do? Why were we finding out about this on the radio? read more

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    An Ontario success story, Oshawa bounces back from Mill losses

    The conversation veers often into big plans for the future when John Henry, mayor of Oshawa, talks about the town he has been leading for seven decades.

    Mr. Henry, who had been born and raised in the Ontario town, just east of Toronto, rhymes off some of these plans: a fresh mixed-used neighbourhood development that includes about 2,200 residential units, a $6-million job to update the city’s airport, another channel on the state’s regional GO train community, and major renovations to expand and update the present station. read more

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