{"id":593424,"date":"2026-04-19T10:07:21","date_gmt":"2026-04-19T10:07:21","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/593424\/"},"modified":"2026-04-19T10:07:21","modified_gmt":"2026-04-19T10:07:21","slug":"new-report-highlights-shrinking-business-landscape-in-the-province","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/593424\/","title":{"rendered":"New Report Highlights Shrinking Business Landscape in the Province"},"content":{"rendered":"<p>\t\t\t\t&#13;<\/p>\n<p>\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2026\/04\/former-st-johns-city-councilor-jonathan-galgay-stephenville-cao.jpg\" class=\"header-image\" alt=\"New Report Highlights Shrinking Business Landscape in the Province\"\/><\/p>\n<p class=\"wp-caption-text\">Director of Legislative Affairs with the CFIB, Jonathan Galgay<\/p>\n<p>\t\t\t\t\t\t\t\tThe Canadian Federation of Independent Business is raising the alarm about data it\u2019s compiled showing an \u201centrepreneurial drought\u201d in the country, and the situation is even worse in this province.<\/p>\n<p>Co-author Jonathan Galgay\u00a0says\u00a0its study, released this week,\u00a0is the first of two reports on the shrinking business landscape.<\/p>\n<p>He says Canada is in an entrepreneurial drought, which is determined by a period of four or more consecutive quarters where entry rates are lower than business exits.<\/p>\n<p>He says the situation is even more startling in this province.<\/p>\n<p>\u201cNewfoundland and Labrador recorded the most negative net change over the past decade with fewer than ten quarters showing positive growth. It\u2019s a startling statistic.\u201d<\/p>\n<p>Galgay cites cost pressures, regulatory burden and the labour shortage as mitigating factors.<\/p>\n<p>To make matters worse, a survey of small business owners shows that few are optimistic about the prospects of opening a new business at this time.<\/p>\n<p>\u201cFifty-five per cent of small business owners would not recommend starting a business today.\u00a0 That is a very, very striking number. There\u2019s a lot of risk.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"&#13; Director of Legislative Affairs with the CFIB, Jonathan Galgay The Canadian Federation of Independent Business is raising&hellip;\n","protected":false},"author":2,"featured_media":593425,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":["post-593424","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/593424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=593424"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/593424\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/593425"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=593424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=593424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=593424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}