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What’s In This Email

• Canadian businesses struggle with debt, delinquencies rise

• EY Celebrates over 160 entrepreneurs

• Whatever you think an eagle sounds like; you’re wrong

• Catch a movie outside

• Notable Spotlight: Chadon Beni

• Notable Plug 🔌 

✍️ TAKE NOTE

Canadian Businesses Struggle with Debt as Payment Delinquencies Rise

Canadian businesses are grappling with growing debt burdens, leading to a surge in missed payments, particularly in the transportation and retail sectors. The lingering impact of federal pandemic loans and a challenging economic environment are key contributors to this troubling trend.

Key Takeaways

• Increased Debt Load: The total balance of loans and credit extended to Canadian businesses reached $31.9 billion in Q1 2024, a 7.4% increase from the same period in 2023.

• Rise in Delinquencies: Delinquency rates have spiked, with 30+ day delinquencies on credit accounts up by 20% year-over-year, and significant rises seen in installment loans and lines of credit.

• Sector-Specific Struggles: The transportation and retail sectors are particularly hard hit, with missed payments on asset-based loans at levels not seen in 20 years.

• New Businesses: Despite the challenges, there’s a silver lining with the rise of new businesses. Over 53,000 new businesses opened in Q1 2024, a 30% increase from Q1 2023, driven by falling interest rates and a shift in banking approaches.

Why This Matters: For our readers, understanding the financial challenges businesses face can provide insight into the broader economic landscape and potential job market implications. The rise in new businesses also highlights opportunities for innovation and entrepreneurship, offering a glimmer of hope amidst economic uncertainty. Staying informed about these trends can help you navigate your career and financial planning in a dynamic economic environment.

Read the full article here.

Over 160 Canadian Entrepreneurs Celebrated as EY Entrepreneur Of The Year® 2024 Finalists

EY Canada has announced the 2024 regional finalists for its prestigious Entrepreneur Of The Year® program, celebrating more than 160 outstanding entrepreneurs from across the country. This recognition marks three decades of championing Canadian entrepreneurship, showcasing leaders who drive innovation, growth, and positive community impact.

Key Takeaways

• Diverse Recognition: Entrepreneurs from various sectors, including real estate, energy, and technology, have been recognized for their value creation and leadership.

• 30 Years of Excellence: Celebrating its 30th anniversary, the EY Entrepreneur Of The Year program has honored hundreds of Canadian entrepreneurs since 1994, highlighting their contributions to economic growth and innovation.

• Supportive Ecosystem: The program works alongside EY Entrepreneurial Winning Women™ and Entrepreneurs Access Network, fostering an inclusive and collaborative environment for business growth and innovation.

• Future Competitions: Regional winners will be announced in October and will compete nationally in November. The national winner will represent Canada at the EY World Entrepreneur Of The Year™ 2025 in Monaco.

Why This Matters: Recognizing the achievements of these entrepreneurs underscores the importance of innovation and leadership in driving economic growth and addressing critical issues. This celebration of entrepreneurship highlights the opportunities and support available for aspiring business leaders, encouraging a spirit of creativity and resilience in the face of evolving market challenges. Staying informed about such programs can inspire and motivate those looking to make their mark in the business world.

Read the full article here.

Relax About Retirement

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@aaronh_m

@torontogirlsblog

✨ This is your sign to watch a free outdoor movie this summer 🎥🍿 @Toronto Outdoor Picture Show #toronto #free #thingstodo #summer #movie

Chadon Beni

@benandnics

📣 Chadon Beni is a Trini restaurant 🇹🇹 in Toronto serving up small plates with big flavour! 🔥 Check out some of our favourites and then go... See more

Book a Reservation

🔌  NOTABLE PLUG

🎙️ Get Into It: Crash Course Pods: The Universe podcast. Dr. Katie Mack, a theoretical astrophysicist, walks #1 New York Times bestselling author John Green through the history of the entire universe - including the parts that haven’t been written yet. Listen on Apple or Spotify.

📄 Notable Hires: Associate Director, Client Communications @ RBC (full-time, Toronto)

🎓 Hope This Helps: Hayai Learn. The fun and sustainable way to learn Japanese by watching your favorite Youtubers, TV shows, animes, music, and games. Using AI to help you effortlessly acquire new vocabulary and grammar.

🌍 Notable Destinations: Toronto to Lisbon ($1069 - $940) Dates: September 9 - September 17. Click on this link to see the deal.

🧠 Today We Learned: The capital of Canada once alternated between Toronto and Québec every four years. Queen Victoria selected Ottawa in 1857 because it sits far from the American border and is situated on a cliff, making it easier to defend from a possible attack

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Notable Life is Canada for young professionals, entrepreneurs, and culture generators operated by The Notable Group. Notable Daily inspires ideas and sharpens the minds of over 40,000 top-tier professionals in competitive industries.

Disclosure: While we utilize artificial intelligence (AI) to assist with certain aspects of content development, all information provided in our content is thoroughly vetted and edited by our team of humans. We strive to ensure the accuracy and reliability of all information. However, we recommend that readers conduct research or seek professional advice to make informed decisions. This email may contain sponsored content.