Estimates for businesses openings and closures in Hamilton CMA, 2015-2024

Experimental estimates for business openings and closures by employment size for Canada, provinces and territories, census metropolitan areas, seasonally adjusted (1, 2, 3) Frequency: Monthly Table: 33-10-0722-01 Release date: 2024-07-29 Geography: Canada, Province or territory, Census metropolitan area Symbol legend: .. not available for a specific reference period x suppressed to meet the confidentiality requirements of the Statistics Act E use with caution Footnotes: 1 Fluctuations in economic time series are caused by seasonal, cyclical and irregular movements. A seasonally adjusted series is one from which seasonal movements have been eliminated. 2 The statistical unit of measures used is the business establishment, which represents a unit of production, such as a factory, store, or head office. By comparison, an enterprise may have many establishments that might operate in different regions and industries. The business counts used for this table are based on establishments within firms to which payroll/employment can be associated in the Survey of Employment Payroll and Hours (SEPH). Establishment refers to the level in the statistical hierarchy of the Business Register at which the accounting data required to measure production are available (principal inputs, revenues, salaries and wages). The establishment is defined as the most homogeneous unit of production for which the business maintains accounting records. From these records, it is possible to assemble all the data elements required to compile the gross value of production (total sales or shipments, and inventories), the cost of materials and services, and labour and capital used in production. For more details, please see: <a href=https://www23.statcan.gc.ca/imdb/p3Var.pl?Function=Unit&Id=23893"" rel=""external noopener noreferrer"" target=""_blank"">Establishment (opens new window)</a>."" 3 Estimates in this table may differ from those in table 33-10-0270-01 due to the adjustment for seasonality applied separately for each series. 4 Active businesses are those businesses that reported having one or more employees in a given month. 5 Opening businesses are businesses that transition from having no employees in the previous month to having at least one employee in the current month. These instances occur when a new, small firm begins, when a large firm opens a new establishment or when a seasonal firm re-opens. 6 Continuing businesses are businesses that have at least one employee in the previous month and at least one employee in the current month. 7 For closures and exits, employment size corresponds to the average number of employees over the twelve months preceding the closure or the exit. 8 Reopening businesses are defined as opening businesses that were also active in a previous month. 9 Entrants are businesses with employment in the current month that were not active in any previous month in the current or previous year. 10 A temporary business closure is the difference between closures and exits. 11 The definition of exits is based on the Longitudinal Employment Analysis Program (LEAP) annual exits. Because the LEAP definition can require up to 24 months of data to be counted as an exit, projections of exits using predicted growth rates are implemented using a regression model of exits on closures of more than 6 months. As a result, there are no published exits in the last six months.