Goal 4

New Business Startups

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

Updated:

Infographic for goal 4 data

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.

GroupNumber of high-growth firmstarget
2011-2014310465
2012-2015300465
2013-2016240465

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.

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