The Report find that the Canadian population has generally positive attitudes towards entrepreneurship in 2022, which are associated with intentions to start a business. However, there are a number of areas for improvement. The drop in the identification of entrepreneurial opportunities, capabilities, and intentions to start a business ends a progressive increase in these three indicators since 2019. Canada’s total early-stage entrepreneurial activity (TEA) decreased between 2021 and 2022. Canada was one of five GEM economies in which the level of TEA fell at the start of the pandemic in 2019-20, recovered somewhat to 2021, and then fell again in 2022. This may suggest that trading conditions in Canada in 2022 were actually worse than in the early stages of the pandemic. Canada retains a high ratio of TEA to established business ownership (EBO) activity once again in 2022, which reflects in part the country’s challenge in transitioning start-ups into established business.