February 2024: Breaking Records for New Businesses
Cleanlist reports that 29,040 new businesses opened in February 2024 in Canada. This number is substantial compared to only 13,941 new businesses opening in January 2024, resulting in a 108.3% increase in new businesses from month to month. Not to mention, when we compare the number of new businesses that opened in February 2023 (15,603) vs February 2024, we noticed a significant 86.1% increase in new businesses since this time last year.
Doors Opening vs. Doors Closing
The saying “when one door closes, another one opens” is often used metaphorically, however, in February, it was quite literal for Canadian businesses. And it wasn’t just one door opening, it was many!
February 2024 saw more new businesses open than any other month in the last year.
The next closest month was September 2023 with 24,702 new businesses. On top of that, we recorded only 2,788 businesses closing, a record low for the last 12 months! In comparison to January 2024 with 17,040 businesses closing and February of last year with a remarkable 37,488 businesses closing, February 2024 was a great month for business.
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.
