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Entrepreneurship In Canada Is In Decline, Meanwhile Public Sector Employment And Non-Profit Employment Is On The Rise


Canada used to be a country that punched above its weight in business creation and entrepreneurship, but in recent years, this quality has declined. Even more worrying, more jobs are being created in the public sector and by non-profits/NGOs, thereby crowding out private-sector development.

A recent post on X highlighted the cratering of entrepreneurship in Canada. This is important because innovation and entrepreneurship drive new jobs and wealth creation. Having a robust, innovation-driven economy is the goal of every developed democratic/ market economy. In Canada, the number of active businesses under 2 years old has tanked by approximatley 40% year over year, and “entrepreneurship is collapsing.”

 

The data references a release distributed by Equifax Canada (NYSE: EFX) that states:

“Canada data shows in the first quarter of 2026, Canadian entrepreneurship is on the decline and business payment challenges continued to build as more companies fell behind on payments to banks and lenders.”

The research indicates that fewer people are looking to start a business and that the volume of new businesses less than 24 months old has dropped considerably by 38.7%.

“This may indicate that escalating operating costs, persistent inflation, and current macroeconomic conditions may be having an impact on actively degrading the viability of business ownership and hurting new enterprise creation across Canada.”

A recent report published by MEI shares that in 2000, self-employment in Canada accounted for approximatleyh 16.1% of total employment. By 2025, this had dropped to 12.9%.

The report declares:

“But while Ottawa and the provinces debate resource extraction, entrepreneurship—the heartbeat of innovation, job creation, and economic growth—is in sharp decline. Indeed, as we shall see below, entrepreneurship has been declining for decades in Canada.”

Correspondingly, venture capital investment has dropped. In 2025, total investment declined by 6% and deal count by 12%. Canadian VC funds raised only $2.1 billion in 2025, the weakest year since 2016.

What is hammering entrepreneurship in Canada? The culprits are pretty obvious.  High taxes are at or near the top of the list.  In some provinces, the marginal income tax rate is over 53%.

More recently, a proposal to raise capital gains taxes, which was put on hold, sent another shudder through potential risk-taking entrepreneurs.

Excessive regulations are a hidden tax upon the populace. While many policymakers view regulations as a burden on employers and businesses, the toll is ultimately borne by end users, consumers, and other firms.

The Canadian Federation of Independent Business reports that total regulatory costs for small businesses are $51.5 billion in 2024, a 13.5% jump from 2020. The Federation believes that many of these rules are unnecessary or simply bureaucratic red tape.

On the other side of the equation, public sector employment and NGO/charity jobs are on the rise. The same MEI report warns that public-sector employment has grown while private-sector jobs have declined. Estimates peg government employment at around 21.8%, with a recent increase. Meanwhile, NGOs and Charities are estimated to account for around 14.5% of jobs. Eventually, the government and taxpayer-supported entities could dominate employment. Canada already has budget deficits due to the extensive public services it provides. So who will pay for it all? More public sector jobs add to the burden.

The sad thing is that decades ago, Canada had a robust innovation-driven sector. The country is also home to a solid higher education system and vast natural resources, as well as incredible natural beauty, which belies the economic challenges.

Today, innovation in Canada is struggling, and GDP has stagnated or declined. A recent economic report declared the Canadian economy to be in recession, the only G7 country to gain this status.

To fix all of this, hard policy decisions must be made, which will not make sectors of the electorate happy. It is more of a question of pain today, or greater pain tomorrow. This is unavoidable.

Most politicians will kick the can down the road so they can get reelected on promises they will never keep. These same politicians will, unfortunately, be supported by a duped population who won’t let the facts get in the way of their hollow predictions of a better future.

 



Oprah Just Said Something at Cannes Lions That Made Me Rethink Everything I’m Building



I’ve been so focused on revenue, subscribers, and deals that I forgot why I started. Then I saw Oprah speak at Cannes Lions yesterday.

You Can Still Get a Sub-6% Mortgage Rate, But Is It Worth It?


I’ve seen a lot of articles lately talking about how you can still get a sub-6% mortgage rate, despite the recent uptick.

We had 5% mortgage rates as recently as early March, but then they climbed back above 6.5% due to the conflict with Iran.

They’ve kind of been stuck there ever since and even threatened to go close to 7% before a deal was struck.

Despite all that, you can still get a 30-year fixed mortgage that starts with a “5.”

But is it actually worth the cost to do so?

Mortgage Rates Are Still Being Advertised in the 5s

If you go to a mortgage rate comparison site, or even look at the rates advertised on this blog, you’ll notice a lot of mortgage rates in the fives.

But if you dig a little deeper and look at the fine print, you’ll notice that there are mortgage points required to obtain those rates.

These points, technically known as mortgage discount points, allow borrowers to obtain below market rates.

They’re essentially prepaid interest that you can pay at loan closing to secure a lower interest rate.

But since you pay the points upfront, the monthly savings from the lower interest rate won’t absorb that cost for potentially years.

You Can Get a 5.75% Mortgage Rate Today But It’ll Cost You

For example, if you’re offered a rate of 5.75% today, which is arguably about 0.75% below the par rate (rate with no cost or rebate), you might be required to pay 1.5-2 points upfront.

A point is simply a percentage point so for every $100,000 you borrow to finance your property, one point is equal to $1,000.

If you take out a $400,000 loan, one point would be $4,000. If it’s two points, it’s $8,000.

You only get “paid back” via lower monthly mortgage payments, which absorb that upfront cost over time.

Eventually, you’re “winning” because you’ve paid back that upfront cost and your monthly payments are lower for the remainder of the loan term.

But this only works if you stay in the loan/property long enough to break even.

I created a mortgage points calculator that calculates this break-even period to help determine if it makes sense or not.

It includes how long you plan to stay in the property and an optional tax rate to really fine-tune things.

In our example above, it’d take about two years and eight months to break even if you bought down your mortgage rate from 6.5% to 5.75% for a cost of two points.

That’s not too bad as most would likely stay in the loan/property for at least a few years in most scenarios.

And to make matters even better, you can often get seller concessions (credits) that can be used to buy down your rate. So it doesn’t necessarily even come from your own pocket.

It Depends What Happens with Mortgage Rates

Before you look at the math and think this is a no-brainer, I’ll surely stay in the property for 2-3 years, there’s another factor to consider.

What if mortgage rates fall back to the 5s or even lower in the next few years?

At that point, you’d have the chance to apply for a rate and term refinance to lower your rate, potentially without any cost.

That would mean that the potential savings would be lost, or that you didn’t actually need to pay thousands of dollars upfront for a lower rate.

Instead, you accept today’s par rate and wait for rates to improve, at which point you take advantage of a refinance.

Of course, lower rates aren’t a sure thing and could actually rise from here, at which point paying to buy down a rate to the 5s would look genius.

Another alternative is to go with a completely different loan program, such as an adjustable-rate mortgage.

Both the 5/6 ARM and 7/6 ARM offer a fixed interest rate for the first five to seven years before the first rate adjustment.

During that time, if rates fall you can refinance. If they’re more or less flat, you can keep your ARM after it adjusts.

Or perhaps you move at some point during those years. The only thing you’d really need to worry about would be if mortgage rates unexpectedly skyrocketed.

Colin Robertson
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Bed Bath & Beyond will splash out $100,000 on a home renovation for the thriftiest couponer of 2026



Shoppers have been hunting for ways to make their dollars count for decades, and now, the longest-running savers have a shot at scoring big on their dusty stash of discounts. And now, the homeware chain Bed Bath & Beyond is giving its thriftiest shopper a $100,000 home makeover—they just need to bring in the oldest coupon to date. 

Bed Bath & Beyond’s “Legendary Coupon Hunt” is underway. And participants must bring in their iconic blue-and-white coupons to Bed Bath & Beyond + The Container Store and Kirkland’s Home locations by July 13 to qualify. 

There’s no doubt there will be a deluge of loyal customers vying to cash in on their oldest savings keepsake. The grand prize of the competition is a $100,000 home renovation, alongside $500 gift cards awarded to 100 top entrants, and $100 in spending money for another 50 winners. 

“For decades, our customers treated these coupons like treasure,” said Amy Sullivan, President of Bed Bath & Beyond, Inc, said in the announcement. “They tucked them into purses, filing cabinets, cookbooks and memory boxes because they believed they would be valuable someday. We think they were right.”

A backtrack on bargain-hunting

It’s been years since the beloved home goods retailer stopped accepting the coupons back in 2023. 

The struggling business had filed for bankruptcy, shuttering hundreds of its brick-and-mortar stores until none were left standing. Under a new owner, Overstock.com (now Beyond, Inc.), it launched online later that same year—but contrary to its time-honored tradition, didn’t accept the physical coupons. 

However, Bed Bath & Beyond is now getting back to its roots; it re-opened its first store in August 2025, and is on track to roll out more locations this year. And the coupon hunt is reviving the nostalgia of print coupons as old-school bargain-hunting culture has made its way to the internet. 

From this competition moving forward, store locations plan to go back to accepting coupons in whatever state they’re in—faded, expired, and even decades-old. 

And it’s a time-honored savings ritual deployed by even the wealthiest of shoppers. 

Coupons are massively popular—even Warren Buffett and Shonda Rhimes clip discounts 

Everyone enjoys the thought of knowing they got a steal when shopping, no matter the tax bracket. 

About 93% of Americans use coupons or have redeemed one within the past year, up 26% from the year prior, according to a 2026 report from Capital One. However, most were claiming a code rather than handing over their paper clippings; 169.2 million Americans used digital coupons in 2025. Around 67% of all consumers use online discounts—at a frequency 13.6% higher than their counterparts—compared to the 59% who opt for physical coupons. And there could be a few factors at play. More consumers are buying online out of convenience; foot traffic is down at brick-and-mortar stores; and brands are shifting away from “dated” print coupons. 

However, the appeal of couponing has lived on for generations—no matter what medium it occupies. 95-year-old Warren Buffett is famous for clipping coupons and living in a modest Nebraska house, despite having $146 billion to his name. Years ago, the prolific investor took Bill Gates there for lunch at McDonalds, pulling coupons out of his pocket to foot the cheap eats. Gates recalled laughing at his thriftiness—but for the hedge-fund mogul, every penny counts.

And one of the greatest and highest-paid showrunners in television history, Shonda Rhimes, is right there with him. The Bridgerton and Greys Anatomy creator still cuts coupons and hunts for the best deals, despite sitting atop an estimated net worth of $240 million. Rhimes said that when people finally hit professional milestones, “The trappings change—you don’t change.” 

“You know what happens when all your dreams come true? Absolutely nothing. Everything stays the same. You’re still you,” Rhimes said on the Call Her Daddy podcast last year. “I’m still the person clipping coupons, and thinking ‘Maybe I should get that on sale,’ and, ‘Maybe I shouldn’t get too comfortable like with these shows.’”

Buffy the Vampire Slayer star Sarah Michelle Gellar is also one of the millions of Americans cutting coupons out of newspapers and magazines—and she’s not afraid to take the long road to save money. At just 19 years old she was a fixture on TV screens as the star of the hit vampire series, and was raking in money that finally made her feel financially secure. And yet, even after years of success in other projects like Scooby Doo, Scream 2, and Cruel Intentions, Gellar still hesitates when splurging on expensive items.

“I cut coupons to this day,” Gellar told CNBC Make It in a 2018 interview. “Like, if there’s a coupon there, I’m going to use it…I will go back and stare at a leather jacket for a couple days before I even purchase it.”

Are you a super-couponer? Fortune wants to hear from you! Email emma.burleigh@fortune.com to share more about your thriftiest habits and how much you’ve saved over time.

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