The total number of registered businesses.
- The long-term expansion of Peel’s business sector continued in December 2019 with 177,222 business establishments.
- Businesses with employment increased at a faster rate (2.7 per cent) than businesses without employees (0.1 per cent).
- The long-term shift towards the service sector continued.
There were 177,222 business establishments in Peel Region in December 2019, compared with 175,534 in December 2018.
The number of business establishments in the service sector increased and those in the goods-producing sector declined.
In December 2019, there were 159,272 classified2 and 17,950 unclassified3 business establishments in Peel Region, representing respective changes of 2.3 per cent and -9.6 per cent relative to December 2018.
Classified Business Establishments by Sector
The number of business establishments in the goods producing sector totalled 19,755 in December 2019, a decline of 1.4 per cent relative to December 2018, with a 3.5 per cent decline in manufacturing businesses being the main contributor.
In contrast, business establishments in the service sector increased by 2.8 per cent in December 2019 to 139,517, extending the long-term shift towards services.
In December 2019, the service sector accounted for 87.6 per cent of total businesses in Peel, while the goods producing sector accounted for 12.4 per cent.
1 While business establishment data is presented annually, counts are not time series as there are ongoing methodological changes which may negate true comparisons from year to year.
2 Classified businesses are those that that are assigned a NAICS code and are classified under the goods producing or service sector.
3 Unclassified business establishments are those which do not fit into any of the North American Industry Classification System (NAICS) and are therefore not yet assigned NAICS code.