Percentage change in number of business insolvencies in Canada 2023

Published by Statista Research Department, Mar 11, 2024
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)

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Release date

November 2023

Region

Canada

Survey time period

2023

Supplementary notes

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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