In 2023, the industry of health care and social assistance, recorded the lowest growth rate of business insolvencies of any industry in Canada. That same year, educational services recorded the highest growth rate of business insolvencies in the country.
Percentage change in the number of business insolvencies in Canada in 2023
(compared to the previous year)
Characteristic
Business insolvencies growth rate
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Including both bankruptcies and proposals.
Bankruptcies: any business that has made an assignment in bankruptcy or against whom a bankruptcy order has been made.
Proposals: an offer to creditors to settle debts under conditions other than the existing terms, constituting a formal agreement under the Bankruptcy and Insolvency Act.
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Innovation, Science and Economic Development Canada. (November 3, 2023). Percentage change in the number of business insolvencies in Canada in 2023 (compared to the previous year) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1223383/percentage-change-in-number-of-business-insolvencies-in-canada/
Innovation, Science and Economic Development Canada. "Percentage change in the number of business insolvencies in Canada in 2023 (compared to the previous year)." Chart. November 3, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1223383/percentage-change-in-number-of-business-insolvencies-in-canada/
Innovation, Science and Economic Development Canada. (2023). Percentage change in the number of business insolvencies in Canada in 2023 (compared to the previous year). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1223383/percentage-change-in-number-of-business-insolvencies-in-canada/
Innovation, Science and Economic Development Canada. "Percentage Change in The Number of Business Insolvencies in Canada in 2023 (Compared to The Previous Year)." Statista, Statista Inc., 3 Nov 2023, https://www.statista.com/statistics/1223383/percentage-change-in-number-of-business-insolvencies-in-canada/
Innovation, Science and Economic Development Canada, Percentage change in the number of business insolvencies in Canada in 2023 (compared to the previous year) Statista, https://www.statista.com/statistics/1223383/percentage-change-in-number-of-business-insolvencies-in-canada/ (last visited July 22, 2024)
Percentage change in the number of business insolvencies in Canada in 2023 (compared to the previous year) [Graph], Innovation, Science and Economic Development Canada, November 3, 2023. [Online]. Available: https://www.statista.com/statistics/1223383/percentage-change-in-number-of-business-insolvencies-in-canada/
