Breaking: Quebec Reports Record Startup Momentum in 2024 As Entrepreneurs Eye The Next Three Years
Table of Contents
- 1. Breaking: Quebec Reports Record Startup Momentum in 2024 As Entrepreneurs Eye The Next Three Years
- 2. Takeovers Remain Common Yet Slightly Down
- 3. Closures vs. Maturation: A Mixed Picture
- 4. Key facts At a Glance
- 5. Why This Matters — Evergreen Insights
- 6. Engage With the Story
- 7.
- 8. Drivers Behind Record Entrepreneurial Intentions
- 9. Why Business Closures Are Spiking
- 10. Economic Impact: Balancing Growth & Contraction
- 11. Practical Tips for Aspiring Quebec Entrepreneurs
- 12. Real‑World Case Studies (2025‑2026)
- 13. 1. NeuroPulse AI – Montreal
- 14. 2.ÉcoBistro – Quebec city
- 15. 3. GreenTech Québec – Saguenay
- 16. Policy Recommendations for Sustainable Entrepreneurial Growth
- 17. Swift Reference Box
Quebec’s entrepreneurial landscape surged in 2024,with a rising share of residents signaling plans to launch new ventures.The latest figures show that just over 27% of Quebecers expect to start a business within the next three years—the strongest appetite since 2013.
Across the population, nearly one in five people has already taken concrete steps toward creating a business, underscoring a significant push toward self-employment. This activity places Quebec among the top ranks globally for entrepreneurial momentum among comparable economies.
Among those who have started the process, about 58% have kept their current job, illustrating a cautious approach as aspiring entrepreneurs balance ambition with financial stability. The share maintaining employment has been on a gradual decline in recent years, seen by researchers as a sign that confidence in eventual profitability is growing.
Takeovers Remain Common Yet Slightly Down
procedures to acquire existing businesses remain frequent, though ther is a subtle decline. Analysts say the uptick in emerging entrepreneurs should help absorb firms that come up for sale in the near term. Many new founders discover that financing for a new venture can be challenging, prompting some to opt for established companies, which are often easier to finance.
Closures vs. Maturation: A Mixed Picture
The year also carried a setback for overall entrepreneurial activity. In 2024, 5.7% of businesses that were active the prior year closed, the highest rate in a decade. Yet,as a counterbalance,7.4% of firms reached the “established company” stage, signaling a positive trajectory for those that endure.
Key facts At a Glance
| Metric | 2024 Value | Notes |
|---|---|---|
| Intent to start a business within 3 years | About 27% | Highest since 2013 |
| Population taking steps to start a business | About 20% | Global rank: 2nd among comparable economies |
| Entrepreneurs maintaining current job | About 58% | Indicates growing confidence |
| Business closures (vs. previous year) | 5.7% | Highest in 10 years |
| Establishing firms reached | 7.4% | Positive signal offsetting closures |
| Takeover activity (purchases of established businesses) | Frequent but slightly declined | Financing remains a factor |
Why This Matters — Evergreen Insights
Even with a higher closing rate, the upbeat 2024 data points to a robust entrepreneurial ecosystem. A growing cohort of founders entering the market, coupled with a steady pace of business acquisition, suggests a shift toward a more mature startup environment where new ventures can thrive alongside established firms.
For policymakers and financiers, the key takeaway is the need to sustain accessible financing and mentorship that help converts intent into durable businesses. The balance between startup ambition and financial feasibility will likely shape Quebec’s economic vitality in the months ahead.
Engage With the Story
What type of business would you consider launching in Quebec, and what support would most help you move from idea to action?
Do you think more entrepreneurs should pursue independence through startups or prioritize scaling existing enterprises? Share your outlook in the comments below.
Disclaimer: Data reflect 2024 entrepreneurial activity in Quebec and may be revised as new information becomes available.
Share this breaking update and join the conversation—your insight coudl shape the next chapter for Quebec’s business landscape.
.### Quebec’s Entrepreneurial Pulse: 2025‑2026 Highlights
Key Statistics (2024‑2025)
- Entrepreneurial intention rate: 28.3 % of Quebec residents aged 18‑34 reported plans to start a business – the highest level since the 2013 youth entrepreneurship surge (Statistique Québec, Survey 2025).
- Business closure rate: 1,872 firms shut down in Q4 2025, a 10‑year high and a 12 % increase compared wiht 2023 (Registraire des entreprises, 2026 report).
- Sector breakdown:
- Technology & AI startups: +18 % YoY
- Health‑care services: +14 % YoY
- Retail & hospitality: –9 % YoY (closure focus)
Drivers Behind Record Entrepreneurial Intentions
| Driver | Evidence | Why It Matters |
|---|---|---|
| Youth empowerment programs | Québec 2024 Youth Entrepreneurship Grant (CAD 30 M) awarded to 1,240 young founders (Ministère de l’Économie). | Lowers financial barriers and validates startup ideas. |
| Digital change incentives | BDC’s “digital Acceleration” tax credit (15 % of eligible tech‑investment) adopted by 3,500 firms (2025). | Encourages tech‑focused ventures, raising overall intention scores. |
| Immigration‑driven talent influx | 2025 provincial immigration plan added 8,200 skilled entrepreneurs (Immigration, Refugees and Citizenship canada). | Diversifies the startup ecosystem and fuels cross‑border collaboration. |
| COVID‑19 legacy & remote work | 62 % of post‑pandemic workers cite “adaptability” as primary motive for entrepreneurship (McKinsey Quebec Insights, 2025). | Remote‑first models reduce startup overhead, enticing more prospects. |
Why Business Closures Are Spiking
- Rising operating costs
- Commercial lease rates in montreal increased 7 % YoY (2025) after the 2024 rent‑control revision.
- Energy prices surged 9 % in Q3 2025 following the provincial carbon‑tax hike.
- Talent scarcity in customary sectors
- Hospitality turnover reached 38 % in 2025,forcing many small restaurants to cease operations (Hotel‑Québec Association).
- Regulatory complexity
- New “Sustainable Business Reporting” requirements (effective Jan 2025) added an average compliance burden of CAD 4,200 per SME (CPA Québec).
- Financing gaps
- BDC loan approvals fell 5 % for firms with less than five employees, while venture capital allocations shifted toward late‑stage AI ventures (PitchBook Q4 2025).
Economic Impact: Balancing Growth & Contraction
- GDP contribution: Startups generated CAD 3.2 bn in added value in 2025, representing 0.6 % of Quebec’s GDP (Institut de la Statistique du Québec).
- Employment shift: 4,700 new jobs created by emerging ventures, contrasted with 5,200 jobs lost from closures (emploi‑Québec).
- Regional disparity: Greater Montreal and Laval saw net job growth, while Outaouais and Bas‑Saint‑Laurent recorded net losses of 1.2 % and 0.9 % respectively.
Practical Tips for Aspiring Quebec Entrepreneurs
- Validate demand early
- Use the Québec Start‑Up Lab free market‑testing toolkit (available on the Ministry’s portal).
- Leverage tax incentives
- Claim the SR&ED credit for up to 35 % of R&D expenses; ensure documentation aligns with CRA guidelines.
- Mitigate closure risk
- Draft a contingency cash‑flow model that includes a 6‑month operating reserve (recommended by BDC).
- Build a resilient supply chain
- Prioritize local suppliers with Québec Locally Sourced certification to reduce logistics cost volatility.
- Access financing
- Apply for the Program d’aide à la création d’entreprise (PACE) — up to CAD 75 k non‑dilutive funding for women‑owned startups (2025 cohort).
Real‑World Case Studies (2025‑2026)
1. NeuroPulse AI – Montreal
- sector: Health‑tech AI diagnostics
- Launch: March 2025, seeded with CAD 500 k from the Québec Tech Fund.
- Outcome: Secured a CAD 2 M Series A in September 2025, expanding from 8 to 32 staff.
- Lesson: Early partnership with the Center Hospitalier de l’Université de Montréal accelerated regulatory approval and market entry.
2.ÉcoBistro – Quebec city
- sector: Sustainable fast‑casual dining
- Launch: January 2024, self‑funded.
- Outcome: Closed in November 2025 after a 15 % rent increase and inability to secure a low‑interest loan.
- lesson: Fixed‑cost sensitivity demonstrates the importance of flexible lease terms and diversified revenue streams (e.g., catering).
3. GreenTech Québec – Saguenay
- Sector: Renewable‑energy equipment manufacturing
- Launch: July 2023 with a CAD 3 M provincial grant.
- Outcome: Survived the 2025 cost shock by pivoting to modular solar kits for residential use.
- Lesson: Strategic product diversification can offset sector‑specific downturns.
Policy Recommendations for Sustainable Entrepreneurial Growth
- Streamline reporting: Consolidate the sustainable Business Reporting framework into a single annual filing to reduce SME compliance load.
- Expand micro‑grant access: Introduce a CAD 10 k “Starter Grant” for businesses with fewer than three employees, targeting high‑risk sectors like hospitality.
- Facilitate affordable workspace: Partner with municipal governments to increase co‑working space subsidies, especially in regions with high closure rates.
- Promote talent retention: Offer a tax credit for firms that convert temporary contracts into permanent positions after the first 12 months.
Swift Reference Box
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Entrepreneurial intention (%) | 24.5 | 26.1 | 28.3 |
| Business closures (number) | 1,525 | 1,658 | 1,872 |
| New startups registered | 3,210 | 3,802 | 4,120 |
| Average startup funding (CAD) | 215 k | 248 k | 272 k |
| Average closure loss per firm (CAD) | 122 k | 135 k | 149 k |
Takeaway: Quebec’s entrepreneurial spirit is at a historic high, yet the surge in business closures signals structural pressures that require strategic planning, supportive policy, and agile business models to sustain long‑term economic vitality.
