For the period 2013-2016, 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 4.9 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.
Group Number of high-growth firms target 2011-2014 310 465 2012-2015 300 465 2013-2016 240 465
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.
Tech entrepreneur thriving in Halifax
Today, At just 24 years old, Nic Merry has founded and is running the largest phone repair company in Atlantic Canada, with four locations across Halifax and a fifth in Cape Breton.
Four early-stage knowledge companies earn seed funding through Spark Cape Breton competition
Four early-stage tech startups won prize money as part of the Spark Cape Breton competition to aid small technology companies get off the ground with the assistance of seed funding.
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Pure Paint, a company based at the Perennia Innovation Centre in Bible Hill, that manufactures paint made from all-natural products. The company’s success has reached the point where it is getting set to expand to a larger facility.
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