Factsheet highlights value of small business

Small Business Minister Craig Foss today released Small Businesses in New Zealand — an online factsheet highlighting the significant contribution small and medium-sized firms make to New Zealand’s economy.

“This factsheet shows small businesses are consistently punching above their weight,” Mr Foss says.

“They generate 27 per cent of Gross Domestic Product and thousands of jobs annually — for the year ending September 2013, 42 per cent of all jobs created were in businesses with 1-19 employees.

“Small businesses dominate our industries, employing more than 105,000 people in rental, hiring and real estate; nearly 67,000 people in agriculture, forestry and fishing; and about 25,000 people in the retail trade.

“Connectivity is more important than ever before.  The factsheet shows 92 per cent of businesses with 6-19 employees are connected to broadband and 66 per cent have a website.

“The Government’s ultra-fast broadband and rural broadband programmes are charging ahead.  Better connectivity is taking New Zealand businesses to the world and enabling them to work smarter, faster and more cost effectively.”

Small Businesses in New Zealand is available on the Ministry of Business, Innovation and Employment website: http://www.mbie.govt.nz/what-we-do/business-growth-agenda/sectors-reports-series/the-small-business-sector-report-and-factsheet