Canada Is Losing Businesses Faster Than It Can Replace Them with Brianna Solberg
Episode 337 of The Business Development Podcast features a powerful and timely conversation with Brianna Solberg of the Canadian Federation of Independent Business, diving deep into what is now being called Canada’s “Entrepreneurial Drought.” Backed by real data, the episode uncovers a troubling reality: more businesses are closing than opening in Canada for six consecutive quarters, marking the worst startup activity outside of the pandemic. Together, Kelly and Brianna break down the mounting pressures facing small and medium-sized businesses, including rising costs, labor shortages, declining consumer demand, and a growing sense that entrepreneurship in Canada is becoming increasingly unsustainable.
But this conversation goes far beyond economics. Kelly and Brianna explore the deeper, long-term implications of this trend, highlighting how the decline of small business threatens the very fabric of Canadian communities. From lost local jobs and reduced economic circulation to the erosion of vibrant main streets and community identity, the impact is far-reaching. The episode also outlines potential solutions, including reducing the cost of doing business, cutting regulatory red tape, and addressing labor market challenges, while calling for greater awareness, advocacy, and action from both business owners and policymakers.
Key Takeaways:
- Canada is facing an entrepreneurial drought, with more businesses closing than opening for six consecutive quarters.
- Small and medium-sized businesses are not a side issue in Canada. They make up 99% of all businesses and employ around 60% of private sector workers.
- When small businesses struggle, communities struggle with them.
- The decline of entrepreneurship is not just an economic problem. It affects jobs, local identity, opportunity, and community vibrancy.
- Many business owners are working harder than ever just to survive, not thrive.
- Rising costs, payroll burdens, taxes, insurance, rent, and utilities are making it harder for businesses to grow.
- Labour shortages remain a major barrier, especially for small businesses that cannot easily absorb hiring challenges.
- Red tape takes time, money, and energy away from actually running and growing a business.
- Internal trade barriers are holding Canada back from becoming a true national economic union.
- Business owners need to speak up, get involved, and add their voices to organizations advocating for real change.
Connect with Brianna Solberg
Connect with Brianna on LinkedIn:
https://www.linkedin.com/in/brianna-solberg/
Join the Canadian Federation of Independent Business
If you are a business owner in Canada, your voice matters now more than ever.
The CFIB represents over 100,000 small and medium-sized businesses across the country, advocating for better policy, lower costs, and a stronger future for entrepreneurs.
Join here:
https://www.cfib-fcei.ca/en/membership-benefits
Sponsor Mentions
🎸 Sponsor Shoutouts: Thank you Colin Harms and Jamie Crozier for your steadfast support of The Business Development Podcast! 🫶
The Business Development Podcast is proudly supported by Hypervac Technologies, Hyperfab, Thunder Bay Hydraulics Inc, and Atlas Elite Lifts. 🎸⭐
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🔹 Hyperfab: The custom fabrication division of Hypervac, delivering engineered solutions and specialized builds tailored to demanding industrial applications.
🔹 Thunder Bay Hydraulics Inc: A trusted provider of hydraulic cylinder repair and manufacturing, supporting industries like mining, forestry, and construction with reliable, high quality service.
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