Statistics Canada is open for business

We are in the counting business, and we count in every sense of the word.

In December 2022, for example, we counted 4.3 million businesses with annual revenue of $30,000 or more, with 1.3 million businesses reporting one or more employees.

We also count on businesses to respond to our surveys so we can track the health of the Canadian economy. In turn, Canadian businesses can count on getting accurate, timely, unbiased and free economic data that they can trust.

To help Canadian businesses tap into our wealth of economic data, Statistics Canada and the Canadian Chamber of Commerce have established the Business Data Lab to put our data to work for Canadian businesses.

The new Business Conditions Terminal is the next step in this partnership. Within this new tool, users can find a plethora of self-serve insights and visualizations, all drawing from the innovative Business Data Trust and using data resources from Statistics Canada.

Helping businesses help themselves to our data

Statistics Canada has been making data available free of charge on our website for over a decade now. However, accessing and leveraging economic data remains a challenge for small businesses and non-profit associations across Canada. For these organizations, the main challenges are knowing what data are available, accessing them and then using them to create actionable insights to make better decisions.

That’s why Statistics Canada is currently working with the Canadian Chamber of Commerce to help these organizations acquire, consolidate and curate data on Canadian business conditions and to produce future-focused, real-time insights on emerging conditions and trends. The Business Data Lab will share these insights across the Canadian Chamber network—450 non-profit organizations representing over 200,000 Canadian businesses—to inform decision-making.

Labour market, prices and individual business sectors: We’ve got them all covered

We have an abundance of economic data waiting to be tapped into and explored. Below are just a small sample of the data businesses could use in their day-to-day decision-making.

How did your business do this January? Nationally, the overall Canadian economy grew 0.5% in January, following a slight contraction (-0.1%) in December. 

Looking to hire new employees? The Labour Force Survey shows that unemployment remained near record-low levels in March and that there was an average of 1.2 unemployed persons for every job vacancy in January.

Worried about higher prices? Inflation, as measured by our Consumer Price Index, slowed to 5.2% in February after peaking at 8.1% in June 2022.

Curious to know how your bar or restaurant is measuring up against national averages? In January 2023, sales at food services and drinking places were up 8.7% from a year earlier to a record high $8.0 billion.

Captains of industries will be happy to know that manufacturing sales reached a record high $79.3 billion in January.

For the most detailed and free local statistics, nothing beats Census data, especially now while they are fresh.

We could go on, but you get the point. The data are there; it’s just a matter of getting them to the people or businesses who need them.

Forward-looking Canadian Survey on Business Conditions

While our economic data usually look at the past, one key survey looks forward. Every quarter since 2020, Statistics Canada has asked employer businesses in Canada about their future business outlook and how emerging issues may impact them.

The survey provides valuable information to businesses large and small, allowing them to gauge how they are faring compared with their counterparts. The survey also serves as an early harbinger of potential economic headwinds before they show up in our monthly economic data.

During the COVID-19 pandemic, the Canadian Survey on Business Conditions was closely watched to see how businesses were faring during the lockdowns of the various waves of the pandemic.

The most recent survey asked businesses in January and early February 2023 what their expectations were for the coming three months.

Compared with the previous quarter, fewer businesses expected to experience supply chain challenges or expected that supply chain challenges would worsen in the coming three months.

However, nearly three in five businesses expected rising inflation to be an obstacle over the next three months. Nearly one in three businesses expected to raise prices over this period, while nearly half (47.0%) expected to raise them in the next 12 months.

Nearly two in five businesses expected obstacles related to recruiting and retaining skilled employees over the next three months. 

Over two-thirds of businesses reported being either very optimistic or somewhat optimistic about their future outlook over the next year.

Big box national wholesale data outlet or boutique Business Data Lab: Take your pick

Statistics Canada has by far the most detailed, accurate, confidential and current data out there when it comes to today’s business environment and the economy.

As always, Statistics Canada is committed to protecting respondents’ privacy and safeguarding the confidentiality of the data entrusted to us: it’s the law. From strong encryption technologies to our high-security internal network, we have high standards for keeping your information private, secure and confidential.

We are happy to share our data and expertise with the Canadian Chamber of Commerce and are always ready to partner with Canadian organizations to develop data-driven products that provide insights to Canadians.