The Canadian economy is losing businesses faster than it can create new ones, and it is time for federal and provincial governments to act to reverse this trend, says the Canadian Federation of Independent Business.
A new report by the organization, calls it an “entrepreneurial drought,” which it defines as a year or more in which “business entry rates are strictly lower than business exit rates.”
It says the drought has been ongoing since 2024, making it the worst period for entrepreneurs outside of the pandemic.
