According to the Government of Canada, the COVID-19 pandemic led to a surge in new business creation, with over 1,100 new businesses established in 2020.
"Many of these businesses didn't look like traditional small firms," the Committee on Small Business said in a statement. "As the pandemic drove commerce online, these new enterprises were primarily concentrated in the non-store, online retail sector... Young entrepreneurs dealt with a tough job market by pivoting towards entrepreneurship to develop businesses and products to serve their communities."
