There’s a longstanding trading heritage in Nova Scotia. Today, this tradition is being strengthened by exporters of all sizes, working in virtually all business sectors. Leading the way are local firms with an extensive variety of products and services, a focus on quality and an innate ability to capitalize on market needs. Joining them is a growing list of innovative companies and international firms that are locating in Nova Scotia and exporting their own products and services to the world.
Our trading legacy is important, but tangible business benefits support Nova Scotia companies in serving international customers and clients:
Cost Advantages
Independent studies consistently report that many Nova Scotia businesses enjoy cost advantages, compared to other locations in North America and elsewhere. These range from operating costs to housing and labour.
Four regions in Nova Scotia also rated among the best sites for doing international business, according to KPMG’s 2006 Competitive Alternatives study. And, among 102 international centres, Halifax ranked fourth in overall cost competitiveness in 2008.
Workforce
Nova Scotia benefits greatly from the efficiency, loyalty and competency of its workforce.
The province has the highest ratio of educational institutions to population in North America. This translates into the greatest percentage of workers with post-secondary education in Canada. Nova Scotia’s workforce is also extraordinarily dedicated to employers, with turnover rate that is among the lowest in North America.
Businesses are thus able to develop and retain staff with excellent skills, but at a lower cost than competitors in many other parts of the world.
Geographic Location
Positioned halfway between the United Kingdom and California, Nova Scotia is the optimal location for companies to do business with the United States and Europe on the same day. The one-hour difference from the Eastern time zone is a major benefit to companies who deal with a multitude of international clients. At the same time, an exceptionally large market is close at hand, just south and west, around the cities of Boston, New York, Montreal and Toronto. All are within a two-hour flight from Nova Scotia. Efficient road, rail, sea and air shipping options are all available to exporters.
Partnering
There is a highly collaborative environment among business, government and education in Nova Scotia. The province has signed formal agreements with several countries to encourage and support international business. Excellent government-to-government relationships have been developed over long periods working together with many other regions.
The government of Canada is an active partner with the province of Nova Scotia in many trade development initiatives. Various programs help bring buyers and sellers together. Others help to support individual transactions and ensure long term business dealings between the firms.
Industry associations also play an active role in most industry sectors in Nova Scotia. Not only do they promote networking and communications, but many often lead trade missions and other international activities with members.
Business Environment
Nova Scotia has a welcoming business environment. It’s secure and stable. The business community is vibrant and resourceful. There’s a quality of life that permits a balance between work and leisure. Affordable housing, schools and health care are available for workers, business owners and families. Business facilities are at hand for new and growing organizations. The people are hard-working and sincere.
It’s easy to do business in Nova Scotia – and with Nova Scotia.