NSBI 2014-15 Annual Report available

Jul 30, 2015

Nova Scotia Business Inc. (NSBI) released today, July 30, its 13th annual report, including financial statements audited by an independent third party in accordance with Canadian auditing standards. The report covers the fiscal period from April 1, 2014, to March 31, 2015.

Looking back on 2014 - 2015:

  • Forecasted export sales increased from $534 million to $708 million, a 33 perNSBI Annual Report cover_2014_15_215x215 cent increase over the previous year’s forecasted export sales.
  • The number of new NSBI export clients remained unchanged from the previous year with nine new companies reporting their first sale.
  • There was a 90 per cent increase over the previous fiscal year in the number of companies that chose to locate or expand in Nova Scotia.
  • NSBI facilitation services connected 300 companies to private-sector financial solutions, a 69 per cent increase over the previous fiscal year.
  • With a new mandate for Nova Scotia Business Inc., it is no longer an active equity investor. As of March 31st, 2015 its venture capital portfolio was valued at $15,542,000, a 47.5 per cent decrease over the previous year.
  • NSBI regionally based staff worked with 370 clients, making 310 referrals to other agencies, partners, and financial institutions to help them navigate the business landscape and the tools required toward success.

“Nova Scotia Business Inc. is bringing a new targeted focus to the year ahead, strengthening our efforts and driving measurable results as we sell the world on doing business in Nova Scotia and sell Nova Scotia businesses to the world,” said Laurel Broten, president and CEO of Nova Scotia Business Inc. “2015-2016 will be a foundation-building year at Nova Scotia Business Inc., with evidence-based market and sector strategic plans and transparent outcomes-focused metrics.”

Looking ahead:

  • As identified in its new business plan, Nova Scotia Business Inc.’s 2015- 2016 activities are focused on key changes.
  • Increase the number of first-time exporters, expand exporting, and the value of Nova Scotia’s exports.
  • Attract and grow high-value investments from domestic, national, and international companies. As well, secure job creating investments in targeted regions such as Nova Scotia’s rural communities by bringing value-added, sustainable innovation to traditional sectors.
  • Establish Nova Scotia as an international jurisdiction of choice in which to invest, work, and do business.

For more information on NSBI corporate reports, including NSBI’s new 2015-16 business plan and the 2014-15 annual report visit: www.nsbi.ca/CorporateReportsandPlans