The number of self-employed Canadians increased by 70,000 people in 2024, according to a survey by the Business Development Bank of Canada, bringing the total number to two million. The Crown corporation estimates that if those solo workers became “micro-businesses”—those with up to four employees—Canada could add $24 billion to its GDP in one year.  (The Logic)

Talking point: BDC attributes the rise in self-employment to population growth and a post-pandemic drop in available jobs, as hiring cooled after the employment boom. Return to office mandates, meanwhile, may have driven some employees to work for themselves, the report notes. Nearly 40 per cent of those workers said they plan to grow through hiring or investments in the following year. The survey results suggest solo entrepreneurship can be a tough road. The vast majority experienced lower revenue growth in 2024, and many rely on personal finances to fund their endeavors.