Closed Businesses Take Dramatic Shift in April 2024
Cleanlist reports that 45,508 new businesses opened in April 2024 in Canada. This number only slightly decreased from March 2024, resulting in a 0.7% decrease in new businesses month over month. Additionally, when we compared the number of new businesses that opened in April 2023 to that of April 2024, we saw a drastic increase of 1234.6%.
As New Businesses Thrive, Closed Businesses Take a Significant Decline
The number of closed businesses in April 2024 resides at an above-average high with 30,708 businesses closing. However, compared to March 2024, it seems things are turning around.
In March 2024, we saw 105,536 businesses close—a record-breaking high for 2023 and 2024. Even though the number of closed businesses took a much-needed dip, it’s clear that insolvencies will likely remain high as the economy continues to level out post-pandemic. With the increased amount of government support during the pandemic, fewer companies were filing for bankruptcy and restructuring procedures. Now that their support systems are no longer helping them stay afloat, many businesses are beginning to crumble.
Why New Business Start-ups Matter to You
New businesses are big spenders in several B2B categories including office supplies, technology (computers, software, etc.), credit cards and financial services, furniture and fixtures, marketing and advertising, office space, 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, internet and telecommunication services, office maintenance and cleaning.
Companies that supply these products and services have an opportunity to quickly establish relationships with new start-ups and become their go-to supplier as they expand and grow. Savvy marketers know this and are quick to engage with these businesses.
How to Get Started
Cleanlist compiles and organizes new business formation data daily for every province in Canada. The data includes business name and address, the industry code (both NAICS and SIC), website URL, telephone number, email address, number of employees and annual revenue. Clients can subscribe to the data and receive a feed of new business startups every month. The data feed can cover all businesses in Canada or be filtered to meet specific target market criteria. Cleanlist would be happy to provide you with estimated new business counts and a data licensing proposal.
