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

donut shaped icon to signify the status of not progressing Not Progressing Not On Track
Current: 240
Baseline: 310
Target: 465
Updated:
Bands

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'

New Business Startups Deep Dive

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