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Business bankruptcies Economic situation, knowledge gaps and differences

May 1, 2014
François Dupuis, Vice-President and Chief Economist • Yves St-Maurice, Senior Director and Deputy Chief Economist • Joëlle Noreau, Senior Economist

Business bankruptcies remain very high in Quebec, especially when compared to the situation in other Canadian provinces. Their numbers today are considerably lower than they were 20 years ago, however. Other than an economic downturn, a lack of management skills is one of the main reasons for these insolvencies, if the analyses offer any proof. The reasons given for this knowledge gap also shed light on potential solutions that are worth exploring. While entrepreneurs have little control over the bigger economic picture, their business knowledge is something that can surely be improved.