By Michael Menard
Data collected from Cleanlist’s ResponseCanada™ Business database shows that 157,030 (on pace for 188,436) new businesses have opened in Canada since the beginning of 2023. Here are the top 5 industries leading the growth in 2023:
- Real Estate Agents
- Full-Service Restaurants
- Consulting Services
- Beauty Salons
- Law offices
Let’s take a look at why these were the top industries:
1. Real Estate Agents (3,586 Opened)
The Real Estate Industry remains the top growing industry in 2023. It was the top growing industry in 2022 with an astounding 13,336 new agents and firms. However, the housing market has been cooling and we are beginning to see this industry cooling with it; but for now, it’s still the top industry experiencing growth.
2. Full-Service Restaurants (3,414 Opened)
In second place, we have the Full-Service Restaurant industry which has been making a steady-resurgence since the pandemic (3,476 in 2022 and 3,172 in 2021). Many franchises are expanding; restaurant entrepreneurs are getting around to finally starting up their dream restaurant; or seasoned owners are reopening their restaurants after a period of financial recovery. Either way, the public loves a new restaurant experience, and demand remains steady.
3. Consulting Services (2,713 Opened)
Consulting services took the bronze medal in terms of growth this year with 2,713 offices and firms opening up. However, similar to Real Estate Agents, these firms saw its largest growth in 2022 with 5,111 new firms. When there are fewer new businesses opening up you will notice a correlation with consulting services. However, although we are experiencing less business growth in 2023 compared to the past 2 years, consulting services still remain in the top growing industries in Canada.
4. Beauty Salons: Redefining Self-Care (1,911 Opened)
Beauty Salons are the shocker when it comes to growing industries in Canada. With 1,911 already opened this year, this has already surpassed last year’s full-year total of 1,374 and 2021’s total of 1,663. Could this be the sign of a burgeoning industry? Or could 2023 be the year of self-care and well-being?. The industry might have needed the extra support given that they are still working through that backlog of postponed weddings and events.
5. Law Offices: (1,906 Opened)
Year after year, the growth of the law industry remains consistent. With 1,906 this year, we are actually seeing a very slight uptick from previous years (1,612 in 2022 and 2,118 in 2021).
Fast Food (1,322), Residential Building Construction (1,243), HVAC Contractors (1,079)
The total number of businesses started in 2023 to date is 157,030. This number is on pace to reach 188,436 which is approximately 16 percent less from the 224,296 new businesses started in 2022.
If you are looking for business data for sales and marketing, or industry research, ResponseCanada™ Business is an excellent resource. You can do your own real-time queries with Cleanlist’s online tool at cloud.cleanlist.ca.
Michael Menard is a Product Specialist with Cleanlist. About the data: the data presented in this report was summarized from ResponseCanada Business, Canada’s largest and most up-to-data commercial database.