Businesses typically try to pay suppliers first to maintain operations so it is “disturbing to see consecutive quarterly increases in delinquencies on the supplier side as well,” he said.
The report says this is occurring mainly in trades located in British Columbia and Alberta, suggesting that businesses in these regions are particularly challenged.For the past two years, business starts have increased in the first three months of the year as the economy recovered from the pandemic, but this year there was a “noticeable dip” at the start of 2023. At the end of February, startups were down year over year by 16.5 per cent in Ontario, 14.2 per cent in British Columbia, 11.
. Credit card balances rose by 14.5 per cent year over year and missed payments were up almost 19 per cent.
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