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This study investigates the determinants of failure for new Canadian firms. It explores the role that certain factors play in conditioning the likelihood of survival - factors related to industry structure, firm demographics and macroeconomic cycles. It asks whether the determinants of failure are different for new start-ups than for firms that have reached adolescence, and if the magnitude of these differences is economically significant. It examines whether, after controlling for certain influences, failure rates differ across industries and provinces.

Two themes figure prominently in this analysis. The first is the impact that certain industry characteristics - such as average firm size and concentration - have on the entry/exit process, either through their influence on failure costs or on the intensity of competition. The second centres on how the dimensions of failure evolve over time as new firms gain market experience.

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Keywords

accommodation, analytical products, beverage industries, business bankruptcies, business cycles, business dynamics, business growth strategies, business service industries, business services, business start-ups, competitiveness, data sources, entrepreneurs, entrepreneurship, finance, fishing, food industries, forestry industries, framework, innovation, insurance, logging, manufacturing industries, medium-sized enterprises, mining, models, oil wells, provincial differences, quarrying industries, real estate agencies, retail trade, risk factors, size of business, transportation services, trapping industries, warehousing, wholesale trade.

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