By Christopher Reynolds The Canadian Press Sun., Nov. 11, 2018 Two months into the launch of her dance studio, Natalie Borch needed a loan. The 34-year-old first-time business owner had opened the doors to The Pink Studio in February after she and her brother invested $40,000 of their own cash and took out a $100,000 loan from the Business Development Bank of Canada. “We just needed a small amount of money to expand our services for new teachers and classes,” she said, from beginner Beyoncé to Bollywood fusion. Finding no help from the main banks, she found Lendified Inc., a fintech startup that offers loans to small businesses based on artificial intelligence-powered screening assessments. After filling out a few online forms on cash flow and collateral, Borch received a $30,000 loan. Article Continued Below Borch is one of the latest beneficiaries of an Ai-driven overhaul in the financial sector as the big banks scramble to tap a vein that … [Read more...] about Will AI give small-business owners, fintechs a leg up—or reinforce status quo?
Business development lead
By Rachel Naud Special to the Star Mon., Oct. 1, 2018 There is a common saying about entrepreneurs — that they are the only people willing to work 80 hours a week to avoid working 40 hours a week. Owning your own small business is a goal for many. Not having to answer to a boss, making your own rules and being financially independent are what entrepreneurial dreams are made of. However, these dreams can quickly turn to nightmares without the proper legwork and know-how. Here are four common pitfalls when it comes to getting your small business off the ground, and tips on how to avoid them. Poor planning “A business plan laying out a company’s value proposition, key activities, resources, customer relationship, channels to market and its financials all help an entrepreneur get started on the right foot,” says Chris Rickett, manager, Entrepreneurship Services Economic Development & Culture at the City of Toronto. When developing your business … [Read more...] about 4 small business startup pitfalls
In my leadership talks and seminars with business leaders and owners, I would touch on the subject matter of ethics and trust. I ask questions directly at my audience: “How many among you have hired people to run your business and discovered that they were incompetent?” Many hands would go up. Many would smile, and others would laugh. “How many among you have hired people to run your business and then discovered that they have covertly set up a competing company while under your employment and steal your key accounts and all these being done while they were still under your employment? This time, you see hands go up with seemingly choreographed movement of heads shaking from side to side, as if their body language expresses sadness and regret. If a business does not do well because of a downturn in the economy or competition, it would hurt. But when trust is betrayed, and ethics are violated, the pain that the offended person feels cuts deep into the core, … [Read more...] about Business is business
Health GlaxoSmithKline said on Wednesday it had hired Kevin Sin from Roche's Genentech unit to head worldwide business development for pharmaceuticals research and development. 18 Apr 2018 09:37PM Bookmark LONDON: GlaxoSmithKline said on Wednesday it had hired Kevin Sin from Roche's Genentech unit to head worldwide business development for pharmaceuticals research and development.Sin, who will join GSK in San Francisco in July, has been responsible for oncology deal-making at Genentech since 2010. He will play a pivotal role as the British drugmaker seeks to strengthen its drug pipeline through acquisitions and licensing deals.(Reporting by Ben Hirschler, editing by Louise Heavens) … [Read more...] about GSK grabs Roche cancer expert to lead pharma pipeline deals
taken for a ride: Farmers work in the rice paddies of the central province of Chachoengsao. Hazardous waste has been found illegally dumped in several areas across the province. PHOTO: Pattarapong Chatpattarasill Heading down a dirt road, Khampan Suprom zigzags her motorcycle through the grove, passing a small reservoir and plantation on the way. She comes to park under some trees. Dressed in her gardening apron and rain boots, she dismounts and drifts towards her vegetable garden. One side of the patch grows broccoli, cabbage and melientha. Covering has been placed over the lettuce to shield it from feasting insects. Some fruit trees stand in the corner. Ms Khampan selects her plants based on local market demands. "These cowpeas could be picked up in the next couple of days," she said, inspecting the plant's pods. It is easy to forget that her idyllic farm plot is located in the middle of Thailand's industralised east -- the region home to the Eastern Seaboard Development (ESD), the … [Read more...] about How women pay the costs of development