Canada’s Fastest Growing Companies 2023: ECCIR Analyzes the Data
The Globe and Mail recently published the fifth annual Report on Business ranking of Canada’s Top Growing Companies. This Report ranks 425 Canadian businesses with anywhere from 3-9,000 employees based on their three-year revenue growth rates.
The 2023 edition has brought to the forefront some impressive growth stories, and ECCIR took a closer look at the data. Our Project Assistant, Elliot Smith, analyzed the numbers, breaking them down by province and sector to gain a deeper understanding of Canada’s fastest-growing companies. The analysis shows that, from the technology sector’s dominance to the emergence of companies in unexpected regions, Canada’s growth story is dynamic and promising.
| Region | Total (425) | Percentage of Total | Companies Per Capita |
|---|---|---|---|
| Alberta | 43 | 10.11 | 107,007 |
| British Columbia | 68 | 16 | 78,945 |
| Ontario | 228 | 53.64 | 66,941 |
| Manitoba/Saskatchewan | 17 | 4 | 154,435 |
| Quebec | 67 | 15.76 | 130,617 |
| Atlantic Provinces | 2 | 0.47 | 1,276,632 |
| Region | Representation on List Based on Population |
|---|---|
| Alberta | Marginally underrepresented (2% or less) |
| British Columbia | Overrepresented |
| Ontario | Overrepresented |
| Manitoba/Saskatchewan | Underrepresented |
| Quebec | Underrepresented |
| Atlantic Provinces | Underrepresented |
| Sector | Total (434) | Percentage of Total |
|---|---|---|
| Agriculture | 8 | 1.84 |
| Building/Construction | 33 | 7.60 |
| Health/Medicine | 30 | 6.91 |
| Hotels/Tourism/Catering | 6 | 1.38 |
| IT/AI/Tech Development | 116 | 26.72 |
| Manufacturing | 70 | 16.12 |
| Oil & Gas | 5 | 1.15 |
| Other (e.g., Financial Services) | 166 | 38.24 |
Some companies fit into multiple sectors hence there are more companies listed in the sector table than on the overall list.
Source
“Ranking Canada’s Top Growing Companies.” Globe and Mail, 29 Sept. 2023, https://www.theglobeandmail.com/business/rob-magazine/top-growing-companies/article-canadas-top-growing-companies-2023/.