Business Openings Decrease

The number of business openings fell 8.2 per cent in April after two consecutive months of growth, says Statistics Canada. However, in April, levels were comparable to pre-pandemic levels (41,600 on average). Despite the decline in business openings, the number of entrants grew 3.7 per cent, the fourth consecutive month with growth. The number of business closures increased in all provinces and territories following the widespread decline in March, with Quebec (up 0.8 per cent) showing the lowest growth in closures, followed by Alberta (up 0.9 per cent). Nova Scotia (up 12.8 per cent) and Prince Edward Island (up 8.9 per cent) posted the highest percentage changes across provinces.