I love Nova Scotia! I am proud to be from here and proud of the amazing entrepreneurs who choose to run their businesses from here. I believe we have many world class business owners right here in our own backyard. But the hard truth is that there are not enough of them. According to Statistics Canada Nova Scotia ranks as the worst province in the country when it comes to the number of businesses we have relative to population. Yes, the WORST!
Unfortunately, we can’t point the finger anywhere but in the mirror. We can’t blame the federal government. We share the same one as the rest of the country who outperforms us. We can’t argue that it’s because we are a smaller province on the east coast. Do you know what province has the highest score in the country? PEI! Special shout out to my friends in PEI representing a strong entrepreneurial spirit for the east coast.
Why is this the case? Well the simple answer is that we need more entrepreneurs. But of course the real answer is much more complex. A study conducted by a mentor of mine Michael DeVenney at WorkInsights found that 72% of business owners in Nova Scotia are not getting what they want from their businesses. One of the best ways to stimulate entrepreneurship growth is to have promotion from our existing entrepreneurs. That is hard when almost three quarters of us aren’t happy. My strong pride for Nova Scotia makes this a hard realization. And although I have optimism I can’t ignore the undeniable data.
Simply put we are failing!
Hopefully this serves as a stark wake-up call that demands a thorough reevaluation of our entrepreneurial culture. It’s evident that the strategies and systems we have in place are not yielding the results we need. Rather than prescribing immediate solutions, it’s crucial to first step back and understand the deeper cultural and systemic issues that are hindering our entrepreneurial growth.
My goal here is simple. To start a dialogue that leads to REAL action, REAL change and we need everyone to contribute! From current business owners to aspiring entrepreneurs and even our leaders in government. We all need to join the conversation and be prepared to contribute with what resources we have.
We need to start by fostering a broader cultural shift that values and encourages entrepreneurial pursuits. This isn’t just about increasing numbers or providing more funding (although those are nice)—it’s about changing how we think about entrepreneurship at a foundational level. The data is clear; our current path is not sustainable. It’s time for a significant cultural shift to unlock the true potential of Nova Scotia’s entrepreneurial spirit.
