Goal 4

New Business Startups

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


Current Situation

For the period 2012-2015, Nova Scotia was home to 300 high-growth enterprises (see ‘Deep Dive’ for definition); 165 less than the 465 target. These enterprises accounted for 6.2 per cent of all enterprises with 10 employees or more in 2012-2015, below the Canadian average of 7.6 per cent.

GroupNumber of high-growth firmstarget

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 2011-2015 period. Over that time, 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.