Goal 4

New Business Startups

The Nova Scotia economy will be home to 50% more high-growth start-up firms.


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Goal Status

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Current: 240
Baseline: 310
Target: 465
Updated:
Bands

Current Situation

For the period 2013-2016, 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 4.9 per cent of all enterprises with 10 employees or more in 2013-2016, below the Canadian average of 5.6 per cent.  The number of high-growth firms declined in every province for the 2013-2016 period compared to the previous three-year period.

Period Number of high-growth firms Target
2011-2014 310 465
2012-2015 300 465
2013-2016 240 465

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What This Means

While the rate of high-growth firms in Nova Scotia is somewhat lower than the Canadian average, the average is skewed by significantly higher numbers of high-growth firms in resource-rich provinces like Alberta and Newfoundland and Labrador over the 2011-2016 period. Over that period, most of the provinces saw declines in the number of high-growth firms. As additional years of data become available, it will become clearer how Nova Scotia’s rate is changing over time.

Deep Dive

Read more detailed information about this goal by clicking 'Deep Dive'

New Business Startups Deep Dive

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