Canadian entrepreneurship on the rise but many firms struggle to grow

"Canada is abuzz with entrepreneurial activity. A new study on entrepreneurship finds Canada has one of the highest levels among Group of Seven countries. It ranks No. 2 after the United States and tied with Australia among industrialized nations. The paper, released Friday by the Global Entrepreneurship Monitor (GEM), suggests that Canadians have an embracing attitude toward entrepreneurship, and that many are turning to it as a career path."

"Among its findings: Early-stage entrepreneurship levels are highest in Alberta for the second year running, while Nova Scotia has the lowest rate. The share of female entrepreneurs is two-thirds the male rate, an area the authors say has room for improvement. The peak age of entrepreneurs is the 45- to 64-year-old range, up from the previous survey when it was largely people in their mid-30s to 40s. It also found entrepreneurship tends to rise with education levels, and that Canada has high levels of social entrepreneurship, (defined as 'initiatives with a particular social, environmental or community objective')."

"There are several weak spots, however. One is in turning those ideas into long-lasting businesses – all these great ideas aren’t necessarily morphing into enduring, larger-sized business ventures. And entrepreneurship levels within large organizations are weak, suggesting workers at big firms are hesitant to take initiative. This weakness could help explain the country’s relatively poor innovation record."

"Entrepreneurship often grows when unemployment rises as more people are forced into it due to lack of other opportunities. In Canada though, the data suggest entrepreneurship is higher in provinces with greater wealth, and that many are turning to it out of choice rather than necessity."

From +The Globe and Mail: 

Canadian entrepreneurship on the rise but many firms struggle to grow
Report finds that our many innovators are having difficulty turning small enterprises into larger businesses

In deep: The high risks of Canada’s growing addiction to debt

This is part of a Globe series that explores Canada's growing dependence on credit — from the average household to massive institutions — and the looming risks for a nation addicted to cheap money.

From +The Globe and Mail

In deep: The high risks of Canada’s growing addiction to debt
Rising real estate costs are the strongest driver in our appetite for household debt

Le Québec, un champion mondial de l’entrepreneuriat

"L’activité entrepreneuriale est très dynamique au Québec. L’entrepreneuriat y est très valorisé, et le Québec surclasse tous les pays du G8 — à l’exception des États-Unis et du reste du Canada — pour la proportion d’entrepreneurs parmi la population totale. Qui plus est, le Québec est l’endroit au monde où les entreprises survivent le plus à leurs dirigeants."

De L'actualité:

Le Québec, un champion mondial de l’entrepreneuriat
Les lacunes de l’entrepreneuriat québécois cachent une vigueur réelle, à maints égards exemplaire, révèle une nouvelle étude.

Top court tosses suit against Theratechnologies

"The Supreme Court of Canada has tossed out a securities class-action lawsuit against Montreal-based drug company Theratechnologies Inc., in a ruling that some lawyers say could make it harder for plaintiffs across the country to file this kind of legal action."

"Theratechnologies found itself facing allegations that it failed to properly disclose issues around a new drug, called tesamorelin, after the U.S. Food and Drug Administration asked some questions in 2010 about potential side effects."

"Under most provinces’ securities legislation, shareholders who bought stock on the 'secondary market,' such as a stock exchange, need to get special permission from a judge to launch a securities class action, and must show that their case has a “reasonable possibility” of success."

"In the Thera case, lower courts in Quebec had given the go-ahead to securities class action lawsuit, which was launched on behalf of shareholders by a numbered holding company that held stock in the pharmaceutical firm and is owned by an investor named Roger St-Germain."

"But the Supreme Court ruled Friday that to pass this screening test, plaintiffs must provide 'sufficient evidence' to show a 'realistic chance' of success, although this stage of such cases must not balloon into a miniature trial."

From +The Globe and Mail

Top court tosses suit against Montreal drug firm Thera
Securities class actions need ‘realistic’ chance of success to proceed to trial, Supreme Court rules