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'
