Despite the downturn, new businesses still present valuable opportunities for B2B suppliers looking to connect with decision makers. Companies focused on marketing to new businesses must understand trends in Canada’s business landscape for a successful marketing campaign.
Cleanlist reported 31,027 new business openings in Canada in February 2025, a slight 6.8% increase year over year from February 2024 to February 2025 and a significant 22.1% decline month over month from January 2025 to February 2025.
Alternatively, business closures drastically increased, with 75,937 reported in February 2025. This is a monumental 2623.7% increase year over year and a transformational 512.1% increase month over month.
Economic Challenges Affecting Business Closures
A confluence of economic challenges likely contributed to the massive surge in business closures across Canada in February 2025. Firstly, the escalating trade tensions with the United States, marked by the Trump administration’s imposition of 25% tariffs on Canadian goods. Canada’s tariffs have further strained this economic relationship, leading to a widespread feeling of uncertainty. The retail industry, in particular, has been hit hard, with several prominent retailers announcing closures. For instance, Peavey Industries LP has shut down all its stores nationwide, and Amazon closed all seven of its warehouses in Quebec.
We will likely continue to see an uptick in business closings. Canadians are spending less because of higher living costs and increased business expenses, making it difficult for many businesses to keep operating.
Why New Openings Matter to You When Marketing to New Businesses
New businesses are big spenders in several B2B categories. These potential customers need products including:
- office supplies
- technology (computers, software, etc.)
- credit cards and financial services such as payment processing
- furniture and fixtures
- marketing and advertising
- office real estate
- delivery services
- insurance (business insurance, liability insurance)
- legal, accounting, and other professional services
- employment recruiting and advertising
- employee benefit programs
- travel and transportation
- raw materials and inventory
- equipment
- training and staff development
- website development services
- online marketplaces
- internet and telecommunication services
- office maintenance and cleaning
- food services
Generating leads by creating an entrepreneur list from new business lead data enables companies that supply these products and services an opportunity at an early stage to quickly establish relationships with decision-makers and become their go-to supplier as they expand and grow. Savvy marketers know the benefits of such targeted leads and quickly connect with these businesses.
Let Cleanlist’s New Business Lead Data Help You Build an Entrepreneur List
Data accuracy is critical when creating lead lists of new business contact information because you want to make a great first impression. Trust Cleanlist’s data solutions to build your B2B sales lead database of accurate contact names, emails and phone numbers.
