Business Insolvencies and Missed Payments Rise as CEBA Deadlines Hit and Costs Stay High
- Business insolvencies climbed 41.4% in Q4 2022 compared to 2021
- The number of businesses missing credit payments also rose 14.3% in Q4
- The report links the rise to financial pressures like repaying CEBA loans
- 25% of CEBA recipients missed the January 2023 repayment deadline
- This adds stress as businesses already face high costs, interest rates, and slowing consumer spending
