A new study of entrepreneurship indicators in Canada by Statistics Canada, shows that the number of active enterprises being created outnumbered the number of enterprise closures or “deaths” which occurred in 2022.
Entitled, Entrepreneurship indicators of Canadian enterprises, 2022, the report notes that there were 1,213,840 active enterprises in Canada with one or more employees. Two thirds had fewer than four employees. During that year, 106,950 enterprises were created (Statistics Canada refers to these as enterprise “births”) and 85,020 closed (enterprise deaths).
High-growth enterprises
“In 2022, Canada had 7,320 high-growth enterprises by employment and 17,930 high-growth enterprises by revenue,” they write. “Enterprises in the construction sector (17.2 per cent) represented the largest proportion of high-growth enterprises by revenue, followed by the manufacturing sector (12.5 per cent).” By employment, the construction sector again represented the largest proportion of high-growth enterprises, followed by the professional, scientific and technical services sector.
The report also looks at the survival of Canadian enterprises, notably stating that 90.6 per cent of those started in 2021 survived into 2022. “Of the 66,370 enterprises that survived from 2020 to 2022, 76.3 per cent were small firms with one to four employees.”
