Canada anticipates a potential surge in business bankruptcies, with thousands of small businesses at risk after the government ceased pandemic-era support. The end of aid, coinciding with a slowing economy and high interest rates, poses a threat to critical small firms employing less than 100 people. Bankruptcy rates surged 38% in the first 11 months of 2023, impacting economic growth, according to warnings from lobby groups and economists. Concerns rise as a significant portion of small businesses miss the deadline to repay interest-free pandemic loans.
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