Small Business continues to drive NZ economy

In BICSI Bytesby info@bicsi.com.au

New Zealand’s Ministry of Business Innovation and Employment recently released the 2017 Small Business factsheet that provides an overview of how valuable small businesses are to the New Zealand economy.

NZ businesses with fewer than 20 employees make up 97% of all enterprises in New Zealand, employ 29% of all workers, and contribute almost NZ$65 billion to the nation’s GDP.

The factsheet also highlighted that small businesses created 42% of all jobs in 2015, and salaries in small businesses average $45,867 per annum. It also showed that most businesses quite are young, with 33% of small businesses having existed for less than five years.

The 2017 fact sheet can be obtained from: http://www.mbie.govt.nz/info-services/business/business-growth-agenda/sectors-reports-series/the-small-business-sector-report-and-factsheet