By Canadian Press

Business investment per worker fell 20% between 2006 and 2021, StatCan says

Feb 22, 2024 | 10:54 AM

OTTAWA — A new Statistics Canada study says Canadian businesses invested 20 per cent less per employee between 2006 and 2021.

That means for every worker, businesses invested $628.80 less in their companies in 2021 than they did in 2006.

The report says the decline was more significant in large and medium-sized companies and foreign-controlled businesses.

The slowdown in investment is attributed in part to lower competition and a shift toward intangible assets, such as brand equity and patents. 

The author notes national statistical agencies do not record many of these assets as investments.

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The report attributes almost one-third of the drop in investment to declining entry rates, or the number of new companies starting up by industry,

This report by The Canadian Press was first published Feb. 22, 2024.

The Canadian Press