April is a peak month for new businesses in Canada

Canada’s North leading the way

If you’re wondering where entrepreneurial energy is heating up in Canada, look no further than the North. According to GoDaddy, the Northwest Territories saw the biggest jump in new business activity from March to April 2024, with a surge of 17.1%. The Yukon wasn’t far behind, climbing 13.7%.

Alberta came in third with a solid 13.5% increase, followed closely by Manitoba and Ontario, which tied for fourth place at 12.5%. Nova Scotia and British Columbia also showed strong growth, while Newfoundland and Labrador and Quebec shared the seventh spot with an 11% uptick.

Wrapping up the list were Prince Edward Island and New Brunswick, with Saskatchewan posting the slowest growth at 7%.

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Other small business finds

GoDaddy's data finds that almost half of small business owners in Canada employ two or more staff, 42% generate over $5,000 in monthly revenue and over half (55.6%) aspire to grow their business by hiring more staff and opening physical locations in the months ahead.

The barriers to entry may not be as large as you think, with over a quarter of small business owners reporting needing less than $500 to start their business.

As well, just under three in 10 Canadian small business owners report using AI to help them run their business.

Survey methodology

Venture Forward is a multi-year research initiative, which analyzes data from more than 770,000 Canadian small businesses with up to nine employees, conducted by GoDaddy to quantify the impact of these businesses on the Canadian economy and their local communities.