When a local or small business closes its doors, it tends to generate some headlines, especially if it has been around for a while or has a strong following.
And that can create the impression that business failures are on the rise or demographics have overwhelmed the mom-and-pop shops who can’t find a successor to take over.
But the numbers suggest a slightly different story.
Saskatchewan is actually seeing a reduction in the number of business closures.
The latest figures show there are just over 25,000 active businesses operating in Saskatchewan right now. That is up about 10-percent from six months earlier. And number of business closures actually went down, despite have a bigger universe of players.
Closures declined about 10-percent in the first half of this year.
Locally, Saskatoon has nearly 8,100 active businesses right now, up about 10 per cent for the year. And closures are down roughly 10-points to just 326.
And Regina is following the same pattern: active business numbers are up about 10 per cent to almost 6,200 while closures fell roughly 10 points in the first half of the year.
