Canadian small businesses are at risk of bankruptcy due to the government ending pandemic-era support last month, which has led to a slowdown in the economy and high interest rates. Small firms, which employ fewer than 100 people, are crucial to the Canadian economy, providing jobs to almost two-thirds of the country's 12 million private workers. A spike in bankruptcies, which jumped 38% in the first 11 months of 2023, could weigh on economic growth, according to lobby groups and economists. Small businesses faced a deadline to repay interest-free loans of C$60,000 ($44,676) made available to each of them during the pandemic. Of the 900,000 who had taken government support, a fifth have not yet repaid their loans. The Canadian Federation of Independent Businesses (CFIB) estimates a quarter missed the deadline. The Department of Finance does not expect a negative impact on the economy due to repayment of loans given during the pandemic.