Business Dynamism & Credit

An entrant need not be a company that has never existed before. The issuer uses activity in the current and previous calendar year. A reopening is a previously active business that returns to employing people. Neither label alone tells us how much employment, innovation or productivity the business will create.

The latest published exit estimate refers to 2025-11: 17,537 exits. The final six months have no published exit values. Permanent exit takes time to establish: Statistics Canada uses employment-file evidence over as much as twenty-four months and regression projections for recent eligible periods. A published exit value can therefore still be an issuer estimate.

Temporary closures are the issuer’s closing-business count less its exit estimate. No unpublished recent exit is filled with zero, extrapolated by Countability, or presented as a confirmed failure. The opening components and active-stock movements remain separately adjusted series.

Source: Statistics Canada — Experimental estimates for business openings and closures. Definitions and exit projection treatment are pinned with this edition’s table metadata.

Provincial, territorial and metropolitan figures overlap. An enterprise operating in several industries or geographies can appear in each relevant group, and seasonal adjustment is done separately. Adding the rows does not reconstruct Canada.

Tourism and manufacturing detail overlap broader industries. Rates use each row’s own preceding-month active count. Small territorial counts can produce large percentage changes; suppressed cells stay suppressed, and a point difference alone is not a statistical-significance test.

Source: Statistics Canada — Experimental estimates for business openings and closures. The industry table contains the issuer’s complete national selection, including nested and special aggregates; no cross-industry total or composite ranking is calculated.

The employment-size table reports 936,907 active employers nationally for 2026-05; the main dynamics table reports 936,959. The totals are retained within their own tables. They are not substituted for one another.

These are employment-size categories, not revenue bands. Changes in the number of active businesses within a size category can include employers moving between categories. An opening still means a transition from no employees in the previous month to at least one in the current month; moving between size bands alone does not meet that definition. For closures and exits, the issuer uses average employment over the preceding twelve months to assign size. Separate seasonal adjustment means the size bands need not sum to the separately adjusted total.

Source: Statistics Canada — Experimental estimates for business openings and closures by employment size. Experimental estimates. Each count-based rate uses its own size-table, region and preceding-month active denominator. Quality flags remain attached.

The combined reading is descriptive. It does not attribute closures to credit conditions, infer productivity from entry, or follow the same businesses through loans, employment and insolvency. Compatible released aggregates with stable cohorts and comparable populations would be needed to answer those questions.

This is the first captured numerical edition for these business series in this analysis. It is a within-edition history, not a revision history. New monthly releases can revise earlier dynamics and credit estimates, and older exits can become better established. A future update must retain the old file, check changes and re-evaluate the reading.

Adapted from Statistics Canada, tables 33-10-0270-01, 33-10-0722-01 and 36-10-0640-01, captured September 9, 2026. This does not constitute an endorsement by Statistics Canada of this product.

HICC and OSB information is licensed under the Open Government Licence – Canada. Statistics Canada information is used under its Open Licence.

Bank of Canada survey data are reproduced and reformatted from the Bank’s published record under its Terms of Use. Survey values are unchanged; charting, quarter labels and interpretation are Countability’s. No Bank endorsement is implied. The original data are available free of charge from the Bank.