Top Halifax Industries: 5 Growing Sectors to Start a Business

Are you looking to start a business in Nova Scotia? With its strategic location, excellent business infrastructure, and key transportation network, the Halifax region is a great place to start (or relocate) a business. In this article, we will explore the top Halifax industries, focusing on five growth sectors.

IT, GAMING & DIGITAL MEDIA

If you’re interested in starting a business in Halifax, the IT, Gaming & Digital Media sector is a great place to start. This sector is thriving in Halifax, with a growing number of companies and a highly skilled workforce.

One of the key advantages of doing business in this sector in Halifax is the city’s tech diversity and wage growth. According to the Halifax Partnership, the city is ranked #2 in Canada for tech diversity and wage growth. This means that there is a wide range of tech companies in the city, and wages in the sector are growing faster than in other sectors.

Halifax is also home to a number of key players in the tech innovation ecosystem, including the Volta Innovation Hub, a startup incubator and co-working space, and the Creative Destruction Lab Atlantic, a program that helps startups scale their businesses.

Another advantage of doing business in this sector in Halifax is the city’s highly skilled workforce. There are a number of universities and colleges in the city that offer programs in IT, gaming, and digital media, including Dalhousie University and the Nova Scotia Community College. This means that there is a large pool of talent for businesses to draw from.

If you’re thinking about starting a business in the IT, Gaming & Digital Media sector in Halifax, there are a few things to keep in mind. First, it’s important to have a solid business plan and to do your research on the market and competition. Second, it’s important to network and build relationships with other businesses and organizations in the sector. Finally, it’s important to stay up-to-date on the latest trends and technologies in the industry.

FINANCIAL SERVICES

The financial services industry in Halifax is an established sector and, with over 1,000 finance, insurance, and real estate companies, Halifax is the financial services and insurance capital of Atlantic Canada. This sector is also one of the largest concentrations in Canada, making it a hub for financial activity.

Halifax’s financial services industry is a global and national center for shared services, technology, and middle office locations. The city offers a range of business services, including accounting, legal, and consulting services, making it easier to start and grow your business.

In addition to the established companies, Halifax has a thriving startup community in the financial services sector. The city offers a range of resources for entrepreneurs, including mentorship programs, funding opportunities, and networking events.

If you’re interested in starting a business in the financial services industry in Halifax, there are several resources available to help you get started. The Halifax Partnership’s Financial Services sector page provides information on the industry and why Halifax is a great place to do business. Additionally, the Invest Nova Scotia website offers resources for starting and growing a business in Nova Scotia.

OCEAN TECHNOLOGY

Halifax is a natural place to get into the ocean technology sector. Halifax is Canada’s “ocean city”, and it offers a deep and diverse ecosystem of customers, partners, and suppliers to ocean innovators and companies from around the world.

The ocean technology industry is one of the region’s largest advanced technology industries with high levels of R&D and innovation, highly-skilled talent, and an export focus. According to the Halifax Partnership, the ocean-technology industry accounts for about one-third of total R&D among all industries in Nova Scotia.

More than $500 million in strategic ocean investments have been made in the province of Nova Scotia, which has helped to create a supportive business environment for ocean technology companies. The industry includes a range of sub-sectors, including ocean observation and monitoring, marine robotics, underwater acoustics, and ocean data analytics.

One of the advantages of the ocean technology sector is that it has a global market. According to a report by Startup Genome, Atlantic Canada’s ocean technology startup sector has been ranked in the top 10 in the world’s blue economy. The report highlights that the sector has strong access to funding, talent, and research institutions.

Halifax is home to Canada’s largest center for ocean research, the Bedford Institute of Oceanography, with 600 scientists, engineers, and technicians. The region is also home to the Halifax Marine Research Institute, which is a non-profit research organization focused on advancing ocean research and technology.

TRANSPORTATION & LOGISTICS

Another established (and growing) industry in Halifax the transportation and logistics sector. Halifax has a strategic location for moving goods in and out of North America and traveling to and from international destinations. The Halifax Gateway is built for speed and volume by road, rail, air, and sea. Here are some key points to consider:

• Halifax is connected to 150+ countries through its deep-water port, international airport, and major highways. The Halifax Gateway is a strategic location for moving goods in and out of North America and traveling to and from international destinations. This makes it an ideal location for businesses that require efficient transportation and logistics.
• The transportation and logistics sector in Halifax is diverse and includes companies that specialize in supply chain management, dedicated transportation, commercial fleet management, freight brokerage, and warehousing.
• Halifax has a skilled workforce that is well-trained in transportation and logistics. The city has a number of training programs and educational institutions that offer courses in logistics, supply chain management, and transportation. This means that businesses can easily find qualified employees to fill their job openings.

HEALTH & LIFE SCIENCES

Another growth industry in Halifax is the Health & Life Sciences sector. With anchor institutions such as the QEII Health Sciences Centre, Life Sciences Research Institute, the Brain Repair Centre, and Genome Atlantic, you’ll have access to state-of-the-art incubator facilities and resources to help you grow your business.

The bioscience sector in Atlantic Canada has become a key driver of economic growth and diversification for the region, with Halifax being a major player in this industry. According to a PDF report, the Health & Life Sciences sector is one of the fastest-growing sectors in Nova Scotia, with a projected growth rate of 5% per year.

The Health & Life Sciences sector in Halifax is focused on developing innovative solutions to medical challenges, with research aimed at helping people struggling with rare diseases, debilitating pain, and sleep apnea. According to a news release, Halifax health science firms are pursuing innovative solutions to these challenges, making the city a hub for cutting-edge research in the field.

In sum, the Health & Life Sciences sector in Halifax is a rapidly growing industry with plenty of opportunities for entrepreneurs. With access to state-of-the-art facilities, resources, and support services, starting a business in this sector is a smart choice for anyone looking to make their mark in the world of bioscience.