Feb 11, 2021
The COVID-19 pandemic continues to alter the business landscape. Some businesses have closed permanently, some have grown and others have been temporarily closing or reopening. In October, for example, the number of business openings (41,910) exceeded the number of business closures (32,420) for the fourth consecutive month. As a result, the number of active businesses in October edged up 0.6%. Despite the slight increase, the number of active businesses was down 6.7% from February 2020.*
In December, there were 1,302,392 employer businesses in Canada and 2,860,194 non-employer businesses with annual revenues greater than $30,000.
Because of the manner in which they are compiled, the business counts released today cannot be used to measure the impact of the pandemic. The figures could include many of the businesses that have closed temporarily or permanently as a result of the pandemic. Permanently closed businesses will eventually be excluded once the businesses wind down and closeout procedures are completed and confirmed, a process that can take many months.
Statistics Canada is releasing experimental monthly estimates of business openings and closures during the pandemic. These releases provide insightful data and analysis on the effects of the pandemic on businesses.
The Canadian business counts are available for each province and territory, as well as for every census metropolitan area and the census subdivisions within them.
Source: Statistics Canada, www150.statcan.gc.ca/n1/daily-quotidien/210211/dq210211d-eng.htm?CMP=mstatcan
* “Monthly estimates of business openings and closures, October 2020,” Statistics Canada; https://www150.statcan.gc.ca/n1/daily-quotidien/210125/dq210125b-eng.htm