daftandbarmy
Army.ca Fossil
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Gotta love how the sun took 40% of manufacturing and turned it into 40% of canadian businesses. Cause thats not deceiving at all. The loss of manufacturing is expected, especially in a trade war with an American administration whos said they want to eliminate our manufacturing.
There is a negative business trend, though, viz:
Canada’s 57% collapse: The missing entrepreneurs behind our growth crisis
The country that built Shopify and Lululemon is now producing fewer builders than at any time in four decades. The data should alarm us
Between 2000 and 2022, the number of self-employed Canadians with paid employees—the founders most likely to scale, hire, and challenge incumbents—fell by 57 percent, from 3.0 to 1.3 per thousand working-age adults. As Falice Chin documented in The Hub, this quiet collapse sits at the heart of one of Canada’s most consequential and least discussed economic problems: the country is producing fewer builders than it used to.
The broader picture is no more reassuring. Self-employment has slipped from 17 percent of total employment a quarter-century ago to 12.8 percent, the lowest share in 45 years. The business entry rate fell from 15.2 percent in 2008 to 12.3 percent in 2023, a fraction of the nearly 25 percent Canada achieved in the early 1980s. The Canadian Federation of Independent Business now describes an “entrepreneurial drought,” pointing to six consecutive quarters in which more businesses closed than opened—something that rarely happens even in recessions.
Canada’s 57% collapse: The missing entrepreneurs behind our growth crisis
Canada lost more than half its entrepreneurial activity. The reasons behind this 57% collapse reveal a deeper economic crisis most Canadians aren't talking about.
