Nova Scotia Business Inc. (NSBI) released its 14th annual report today, August 11, covering the fiscal period from April 1, 2015, to March 31, 2016.
“NSBI believes exporting – and trade in general – is an important component of the path to sustainable economic growth in Nova Scotia, and we are committed to supporting businesses here and around the globe.” says Laurel Broten, President and CEO, Nova Scotia Business Inc.
The 2015-16 annual report measures goals against NSBI’s 2015-16 business plan, and includes financial statements audited by an independent third party in accordance with Canadian auditing standards.
Looking back: 2015-16:
- NSBI worked with 1106 unique businesses across 153 communities in Nova Scotia to help navigate the business landscape and the tools required to help companies succeed.
- There was an 11.1 per cent increase over the previous fiscal year in the number of companies that chose to locate or expand in Nova Scotia, resulting in new money into the Nova Scotia economy.
- Forecasted export sales increased by 13.3 per cent over the previous year’s forecasted export sales.
- NSBI saw success with seven new companies reporting their first export sale, NSBI will target working with a minimum of 15 companies across Nova Scotia to become first-time exporters in 2016–2017.
- In its first year of administering the Nova Scotia Film and Television Production Incentive Fund, NSBI approved 15 film and television productions.
- NSBI continues to monitor and manage its equity portfolio. As of March 31st, 2016 its venture capital portfolio was valued at $13,055,00 a 15.5 per cent decrease over the previous year.
- The report includes outcomes-based measurements that NSBI used to evaluate its work with businesses across the province through the client metrics survey. The survey collected metrics on trade, investment, and Nova Scotia’s business climate.
Looking ahead: 2016-17 Business Plan
As outlined in the 2016-2017 business plan, NSBI will continue the trajectory of focusing on export as the first priority. “There is still much to be done so our client firms can thrive, and not just survive, in our ever-changing global economy, says Broten. “Our plans are built based on the conversations we have had with businesses across the province and from the lessons we learned in 2015-2016. By working with our partners, we’re confident that NSBI is on track to deliver focused and relevant export services and smart, aggressive, and targeted investment attraction efforts to strengthen Nova Scotia’s economy.”
For more information on NSBI corporate reports, including NSBI’s 2016-17 Business Plan and 2015-16 Annual Report visit: www.novascotiabusiness.com/corporatereportsandplans
Nova Scotia Business Inc.