New Business Startups

Current Situation

For the period 2017-2020, Nova Scotia was home to 230 high-growth enterprises; 235 less than the target of 465. These enterprises accounted for 4.7% of all enterprises with 10 employees or more in 2017-2020, below the Canadian average of 5.5%. The number of high-growth firms declined in all provinces except Prince Edward Island for the 2017-2020 period compared to the previous three-year period.

What This Means

The proportion of high growth firms in Nova Scotia remained somewhat lower than the Canadian average. For the 2017-2020 period, the proportion of high-growth firms was highest in Prince Edward Island, British Columbia, and Quebec, and lowest in Saskatchewan and Manitoba. Comparing the 2017-2020 period with the earliest period 2011-2014, the number of high-growth firms had declined in all provinces except Prince Edward Island (where high growth firms remained the same).

Indicator: A high-growth enterprise is defined as an enterprise which has average annualized growth in revenues of greater than 20% per year over a three-year period (72.8% 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'

New Business Startups Deep Dive