For the period 2014-2017, Nova Scotia was home to 240 high-growth enterprises (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.
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.