For the period 2015-2018, Nova Scotia was home to 230 high-growth enterprises; 235 less than the target of 465. These enterprises accounted for 4.5 per cent of all enterprises with 10 employees or more in 2015-2018, below the Canadian average of 5.8 per cent. The number of high-growth firms declined in three provinces and rose in seven provinces for the 2015-2018 period compared to the previous three-year period.
What This Means
The proportion of high growth firms in Nova Scotia is somewhat lower than the Canadian average. For 2015-2018 period, high-growth firms were more common in Quebec, Alberta and Ontario and less common in Newfoundland and Labrador, Nova Scotia, and New Brunswick. Comparing the 2015-2018 period with the earliest period 2011-2014, the number of high-growth firms had declined in seven provinces, remained same in Prince Edward Island and rose in British Columbia and 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.