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Revenue data suggests surge in new Canadian businesses

Revenue data suggests surge in new Canadian businesses

  • Data from the Canadian Revenue Agency (CRA) and Statistics Canada shows an increase in new businesses, with more stores opening last year then in 2017
  • GST numbers provided from the CRA for September 2020, show an increase of 5% from year earlier, marking the most in any September since 2013.
  • Additional data from Statistics Canada shows that October 2020 marked the 3rd consecutive month in which more businesses opened then closed
  • The opening of new stores shows a strong rebound, especially when compared to the Great Recession, which saw GST numbers in Canada stay below the 2008 mark all the way until 2016

Source : https://www.thechronicleherald.ca/business/perspectives-on-business/exclusive-cra-data-suggest-a-surge-in-new-businesses-but-culture-change-still-needed-to-succeed-548552/

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