Atlantic Region Startups Kept Hiring in 2020
In his most recent tally of employment by Atlantic Canadian innovators, Patrick Hankinson of Concrete Ventures has concluded that the region’s high-growth companies have continued to add staff through the pandemic.
He posted a blog last week that the startup community in Atlantic Canada produced a net 654 new jobs in 2020, bringing the total to 10,337 jobs – an increase of almost 7 percent. Of the companies that he’s tracking, 40 percent added staff, 29 percent had no change and 31 percent shed employees.
In a blog on his site, Hankinson said he had been pessimistic about the outlook for startups when the pandemic broke out last spring. But the more optimistic entrepreneurs at the time were proven correct as many of the region’s startups continued to grow through the pandemic – especially in Newfoundland and Labrador.
“In terms of employment growth, five of the 14 top companies were from Newfoundland and Labrador, and if you move past those 14, there were other Newfoundland companies that are showing some strength,” said Hankinson in an interview. “It’s pretty clear to say that Newfoundland is punching above its weight.”
Read the rest of this story at Entrevestor, a Huddle content partner.