When post-mortems are conducted on failed businesses, especially small ones, those conducting the review have a list of reasons they look at: poor management, under-capitalization, weak planning and so on.
But one factor that turns up frequently – and may be a surprising contributor to the demise of many smaller enterprises – is divorce.
The assets of a business – especially ones owned by a family – may have to be sold to settle the financial obligations of divorce.
So, when Statistics Canada produced its latest figures on divorces in Canada, it is of interest to more than those dealing with social issues.
It’s a business issue too. What we found that was COVID kept couples together. The divorce rate in Saskatchewan was down about 20 per cent in 2020 when compared to 2018 before the pandemic. The national decline was closer to 30 per cent.
Officials say one reason for the reduction was that it was harder to file the paperwork and get a file through the courts through pandemic, but age is another.
Younger generations are postponing marriage until later and, as we get older, we are less likely to seek a divorce.
