Between June 2018 and May 2019, Statistics Canada recorded a net gain of 1,111 businesses, or a net gain of about 925 businesses per month. In the months leading up to the imposition of U.S. tariffs in 2018, Canada saw a monthly average gain of 348 businesses (see Figures 19 and 20). After tariffs were lifted and until the wave of COVID-19 business insolvencies in early 2020, there was an average gain of 561 businesses per month. Therefore, 2018–2019 tariff policies may not have affected business openings and closures as much as other macroeconomic factors, including fiscal policy, monetary policy, inflation and global economic stability. For 2025 and beyond, macroeconomic complexities, coupled with shifting political and economic alliances, may be harder to navigate than in 2018–2019.
Figure 19: Active and Continuing Businesses in Canada (2018–2024) Figure 19: Active and Continuing Businesses in Canada (2018–2024)
0 200000 400000 600000 800000 1000000
Active Businesses
Continuing Businesses
Opening Businesses
Figure 20: Business Openings and Closures in Canada (2018–2024)
Figure 20: Business Openings and Closures in Canada (2018–2024)
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Opening Businesses
Closing Businesses
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Davies | dwpv.com
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