Saturday, May 31, 2025

Latest

More Than 40% of Small Business Owners In the U.S. And Canada Could Not Pay Full Rent In November

Small business conditions may be more fragile than even bearish observers fear and seem to be worsening quite rapidly in Canada and, particularly, in the United States. According to a survey of more than 6,300 small business owners conducted over the period November 19-22, 41% and 45% of U.S. and Canadian small business owners, respectively, said they could not pay their rent in full and on time in November. Alignable, a small business referral network with clients across North America, conducted the poll.

Furthermore, not only are the current rent delinquency figures in the two countries high, but the trends in those statistics are alarming as well. Just two months ago, only 30% of small business owners in America and 41% in Canada could not meet the terms of their rental contracts.

% of U.S. Small Businesses Which Could Not Pay Rent in Full and On Time% of CANADA Small Businesses Which Could Not Pay Rent in Full and On Time
November 202241%45%
October 202237%42%
September 202230%41%
August 202240%48%
July 202234%37%
June 202235%43%
May 202233%39%
April 202228%40%

Reasons cited for the difficulties in making required rent payment were varied, but broad comments on profitability declines are alarming. Indeed, 41% of small businesses said they were earning half (or even less than half) of what they made prior to the COVID pandemic. That proportion was up from 34% just a month ago.

About 73% of small business owners estimated that customers were purchasing fewer goods in November than in the prior month. In an October poll, only 59% issued the same cautionary statement.

Furthermore, and especially hard to believe, only 14% of surveyed small businesses reported they were earning in November 2022 as much or more as they did in pre-COVID days. That 14% figure was a steep drop from 24% in October.

In the U.S., travel/lodging and manufacturing small businesses are faring the best in covering rent payments, while beauty salons and education facilities are generally facing the greatest obstacles. Remarkably, only 13% of small travel/lodging companies reported rent issues during November, down from 34% in October.

Source: Alignable.

In Canada, Ontario’s November rent delinquency rate was 45%, matching the nation’s average. Alberta’s rate, 33%, was the country’s lowest during the month.


Information for this briefing was found via Alignable and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

China Reportedly Working On Measures To Support Troubled Property Market

China is reportedly working on a fresh package of measures to assist the property market...

Sunday, June 4, 2023, 07:23:00 AM

Ray Dalio: US Headed for a Housing Bubble Amid Low-Interest Rates, High Liquidity Economic Landscape

Ray Dalio, founder of Bridgewater Associates, has revealed his take on the current economic landscape...

Thursday, July 1, 2021, 05:23:00 PM

Canadian Housing Starts Jumped 3.2% in May

Canadian housing starts posted another slight increase in May, rising by an annual pace of...

Tuesday, June 15, 2021, 02:41:00 PM

US Homebuilder Confidence Soars to Record-High in November as Buyers Continue Migrating to the Suburbs

As more and more Americans continue to migrate out of downtown metro areas and into...

Wednesday, November 18, 2020, 11:56:00 AM

Canada Needs 170K New Houses Every Quarter to Supply Population Surge

At the rate the Canadian government is going, the surge in population is starting to...

Thursday, December 21, 2023, 11:21:00 AM