Canada recorded 6,217 new business registrations in November 2025, a 32% decline from October and 51% below November 2024. Meanwhile, 31,297 businesses closed, up 5% from October and more than five times the number of new formations. This resulted in a net loss of 25,080 businesses — the deepest monthly contraction of 2025 so far.
📊 By the Numbers
- New business starts: 6,217 (↓ 32% MoM, ↓ 51% YoY)
- Business closures: 31,297 (↑ 5% MoM, ↑ 209% YoY)
- Net change: –25,080
⚖️ Interpreting the Shift
Start-up fatigue persists
November marks the fourth consecutive month of weakening formation activity. Reduced consumer demand, tightening credit, and persistent operating cost pressures continue to suppress entrepreneurial momentum.
Closures remain structurally elevated
Business closures continued their historically high trend, driven largely by microbusiness failures and service-sector attrition. Despite moderating from the extreme spikes seen earlier in the year, closure volumes remain far above pre-2025 levels.
The gap widens further
With closures outpacing openings by more than 5 to 1, Canada’s active business population has contracted significantly. Cumulative net losses now exceed 185,000 businesses since spring — a signal of stress among small firms and a drag on local economic ecosystems.
💼 Why This Matters
Business births and deaths offer one of the clearest real-time indicators of economic health — and vital signals for marketers, lenders, insurers, and B2B providers.
Cleanlist’s ResponseCanada™ Start-ups and Business Closure Data help organizations:
- Identify and target new businesses the moment they appear
- Track business attrition to manage credit and portfolio risk
- Analyze market shifts by province, sector, and month
- Spot early indicators of economic change
🔍Want to Reach Canada’s Newest Businesses?
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