Quarterly UpdatesJun 9, 2026, 06:01 AM
Equifax Canada: Entrepreneurship drops, business delinquencies rise
AI Summary
Equifax Canada data for Q1 2026 reveals a significant decline in Canadian entrepreneurship, with active young businesses decreasing by 38.7%. Business payment challenges continued to build, as the national 60+ day delinquency rate for financial trades rose 11.37% year-over-year to 3.83%. While the Canadian Small Business Health Index showed some positive momentum, rising 2.3% quarterly, businesses are cutting back on short-term credit, with line of credit balances down 21.3% and credit card balances down 17.2%.
Key Highlights
- Volume of active young businesses (24 months and younger) decreased by 38.7%.
- National 60+ day delinquency rate for financial trades rose 11.37% YoY to 3.83%.
- Total line of credit balances fell 21.3% YoY to $1.55 billion.
- Business credit card balances declined 17.2% to $5.54 billion.
- Average instalment loan debt increased 3% YoY to $129,421.
- Small Business Health Index rose to 100.9, a 2.3% quarterly increase.
- Ontario recorded the highest financial trade delinquency rate at 4.22%, up 13.93% YoY.
Price Impact
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