Current Situation
For the period 2014-2017, Nova Scotia was home to 240 high-growth enterprises[1] (see ‘Deep Dive’ for definition); 225 less than the target of 465. These enterprises accounted for 4.8 per cent of all enterprises with 10 employees or more in 2014-2017, below the Canadian average of 5.5 per cent. The number of high-growth firms declined in four provinces, remained the same in four provinces and rose in Quebec and New Brunswick for the 2014-2017 period compared to the previous three-year period.
| By Revenue | |||||||
|---|---|---|---|---|---|---|---|
| Period | 2011-2014 | 2012-2015 | 2013-2016 | 2014-2017 | |||
| Number of high-growth enterprises | 310 | 300 | 240 | 240 | |||
| "Nova Scotia | Share of total enterprises" | 6.5% | 6.2% | 4.9% | 4.8% | ||
| "Canada | Share of total enterprises" | 7.6% | 7.3% | 5.6% | 5.5% | ||
| Target | 465 | 465 | 465 | 465 | 465 | 465 | |
| -155 | -165 | -225 | -225 | ||||
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What This Means
The proportion of high growth firms in Nova Scotia is somewhat lower than the Canadian average. For 2014-2017 period, high-growth firms were more frequent in British Columbia, Ontario and Quebec and less frequent in Manitoba, Saskatchewan and Alberta. Comparing the 2014-2017 period with the earliest period 2011-2014, the number of high-growth firms has declined in all provinces except New Brunswick.
Indicator: A high-growth enterprise is defined as an enterprise which has average annualized growth in revenues of greater than 20 per cent per year over a three-year period (72.8 per cent growth over three years), and at least 10 employees at the start of the three-year period.
Deep Dive
Read more detailed information about this goal by clicking 'Deep Dive'
