Small Business Sector Report
The very first Small Business Sector Report has been released by Minister Steven Joyce, revealing valuable information on the sector which the Minister describes as the "backbone of the New Zealand economy".
Small businesses are defined as those enterprises with fewer than 20 employees. They make up 97% of all enterprises in New Zealand! Small Businesses contribute to 28% of New Zealand’s GDP and employ 30% of our workforce (i.e., 584,000 people).And this is the group of people we strive to support!
The release of the report coincides with the launch of a new SME Research Hub in Wellington charged with researching and gathering information on the sector for business owners, government and policy makers.
The new research centre and the increased focus on SME’s are encouraging and will provide important insight into the barriers and factors that will enable Small Businesses to succeed and grow. Let’s hope central and local government listen!
The full report can be downloaded from: http://www.mbie.govt.nz/what-we-do/business-growth-agenda/sectors-reports-series/the-small-business-sector-report-and-factsheet-2014