New Business Openings Surge, Closures Decline – January 2025
A Strong Start for Businesses in 2025
Cleanlist reported that 39,828 new business openings occurred in Canada in January 2025, marking a significant 74.6% increase from December 2024 and an impressive 185.7% surge compared to January 2024.
Conversely, business closures saw a sharp decline, with 12,406 reported in January 2025—down 38.4% from December 2024 and 27.2% lower than January 2024.
What’s the driving force behind Canada’s 2025 business boom?
Many factors could have contributed to this positive trend of new businesses including interest rate reductions. The Bank of Canada has implemented interest rate cuts to stimulate economic growth which in turn encourages entrepreneurs to open new businesses and manage existing businesses more effectively.
Another factor to consider moving into 2025 is the significant investments being made by large corporations to expand stores and enhance supply chains. With these big corporations expanding, economic activity is often stimulated, creating more jobs and inspiring those in similar sectors.
Lastly, despite recent concerns over U.S. trade policies and tariffs, according to Reuters, Canadian businesses are reporting improved sales expectations, which could inspire new entrepreneurs to persist, bringing down the business closure rates.
All of these factors combined suggest a more favourable economic environment for Canada leading into 2025.
Why New Business Openings Matter to You
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.
