Canada is facing what’s being called an “entrepreneurial drought,” with more businesses closing than opening for six straight quarters.

 

According to a new report from the Canadian Federation of Independent Business, this trend began in early 2024 and has continued across the country, raising concerns about long-term economic growth.

 

The situation isn’t just national — it’s hitting Manitoba as well, where business closures have also outpaced openings over that same stretch.

 

Brianna Solberg, Provincial Director of Legislative Affairs for the Prairies and Northern Canada with CFIB, explains what’s behind the trend.

 

the report also found that more than half of small business owners wouldn’t recommend starting a business right now, pointing to growing pressure and uncertainty in the current environment.

 

If the trend continues, experts warn it could lead to fewer jobs, less innovation, and a weaker overall economy.

 

To hear more, tune into Thompson Today at 12:40 and 5:10.