As entrepreneurs, our journey is often marked by moments of exhilarating highs and daunting lows. Amidst the rollercoaster ride of building businesses and chasing dreams, one thing remains constant: the power of community.
In the age of digital connectivity, online shopping has emerged as a game-changer, reshaping the landscape of retail. For independent retailers, this shift has brought both challenges and opportunities, fundamentally altering the way they operate, connect with customers, and compete in the market.
A report from the Business Development Bank of Canada (BDC) reveals a concerning trend as the country witnesses a decline in entrepreneurs. Despite a growing population, there are 100,000 fewer entrepreneurs than there were 20 years ago, prompting the BDC to emphasize the potential impact on the economy.
Business insolvencies in Canada experienced a substantial increase of over 41% in 2023, as reported by the Office of the Superintendent of Bankruptcy.
