B2B Marketers use new business lead data for lead generation.
CLOSED FOR BUSINESS: A BIG DROP IN BUSINESS CLOSURES THIS OCTOBER 2024
Cleanlist reported that 22,895 new businesses opened in October 2024 in Canada. This number is a significant 34% decrease from the September 2024 high of 34,698 new businesses opened in one month. Furthermore, the number of new businesses opened this past October compared to last October (2023) increased significantly by 38.9%.
Regarding closed businesses in October 2024, we reported 6,480 closings, which was a huge 72.3% decrease month-over-month and a notable 27.3% decrease year-over-year.
WHAT INFLUENCES LED TO THE BIG DROP IN BUSINESS CLOSURES MoM?
2024 has been a rollercoaster for businesses, marked by fluctuating economic conditions and varying consumer behaviours. With no clear trend upward or downward, businesses have faced many challenges that have contributed to an unpredictable environment. On average, business closures have been notably high in 2024, although there have been a few months where activity saw a bit of a lull.
One influence that may have contributed to the significant drop in business closures in October 2024 is the signal of economic recovery post-pandemic. Consumer spending and economic activity are up, which may encourage struggling businesses to remain open. Government support has also been provided for businesses facing hardship, which helps alleviate the financial burden and allows them to sustain operations.
Another important factor to consider is that October often serves as a transitional month for many industries as the holiday season approaches. The anticipation of increased sales during this time could motivate businesses to hold off on closing prematurely, allowing them to capitalize on holiday profits.
Overall, the drop in business closures suggests that despite the rollercoaster year, business owners are feeling hopeful that a turning point is just around the corner, allowing them to push through challenges and think about the opportunities that lie ahead.
WHY NEW BUSINESS START-UPS 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.
Generating leads 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 YOUR SALES TEAM SUCCEED
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.
