Backgrounder: Empowering Entrepreneurship and Fueling Local Business Growth in Nova Scotia
January 31, 2025
Halifax, Nova Scotia – The Government of Canada and the Province of Nova Scotia are committed to supporting entrepreneurship and fueling local business growth across the province. Through the Canada-Nova Scotia Labour Market Agreement, the partners are investing in programs and initiatives that will help Nova Scotians start, grow, and succeed in business.
Key Initiatives
- Ignite Atlantic Micro-Loan Fund: This fund provides small loans of up to $10,000 to help entrepreneurs in Nova Scotia cover start-up costs, purchase equipment, or expand their operations.
- Grow My Business Nova Scotia: This program provides business support services, such as mentorship, training, and access to capital, to help small businesses grow and succeed.
- Export Connector Service: This service connects businesses in Nova Scotia with export opportunities and resources to help them grow their businesses internationally.
- Innovation Hubs: These hubs provide access to resources, expertise, and support for entrepreneurs and innovative businesses.
Benefits of Entrepreneurship
Entrepreneurs play a vital role in the Nova Scotia economy by creating jobs, driving innovation, and contributing to the province’s overall prosperity.
- Job Creation: Entrepreneurs create jobs that are essential for economic growth and stability.
- Innovation: Entrepreneurship fosters innovation and the development of new products and services.
- Economic Diversification: Entrepreneurship helps to diversify the provincial economy by creating new industries and opportunities.
- Community Development: Local businesses contribute to the vitality and character of communities throughout Nova Scotia.
Additional Support
In addition to the programs and initiatives provided through the Canada-Nova Scotia Labour Market Agreement, the Government of Canada and the Province of Nova Scotia offer a range of other supports for entrepreneurs, including:
- Atlantic Canada Opportunities Agency (ACOA): ACOA provides funding, advisory services, and business development support to entrepreneurs in Atlantic Canada.
- Nova Scotia Business Inc. (NSBI): NSBI provides resources, programs, and support to help businesses in Nova Scotia start, grow, and succeed.
Call to Action
The Government of Canada and the Province of Nova Scotia encourage entrepreneurs in Nova Scotia to take advantage of the available supports and resources to help them start, grow, and succeed in business. By working together, we can continue to build a strong and prosperous economy for all Nova Scotians.
Quotes
“Our government is committed to supporting entrepreneurs and creating the conditions for businesses to succeed in Nova Scotia,” said the Honourable Carla Qualtrough, Minister of Employment, Workforce Development and Disability Inclusion. “Through the Canada-Nova Scotia Labour Market Agreement, we are investing in programs that will help Nova Scotians start, grow, and succeed in business, and contribute to the economic prosperity of the province.”
“Entrepreneurs are the backbone of our economy, and we are committed to providing them with the support they need to thrive,” said the Honourable Jill Balser, Minister of Labour, Skills and Immigration. “The programs and initiatives funded through the Canada-Nova Scotia Labour Market Agreement will help to create jobs, drive innovation, and contribute to the overall prosperity of Nova Scotia.”
Backgrounder: Empowering entrepreneurship and fueling local business growth in Nova Scotia
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