You are using an older browser version. Please use a supported version for the best MSN experience.

Small businesses make 'huge contribution'

NZ NewswireNZ Newswire 24/05/2016

Veteran affairs minister Craig Foss © Getty Images Veteran affairs minister Craig Foss

Small businesses employ nearly a third of the workers in New Zealand and produce around 26 per cent of GDP.

The figures are in the latest Small Businesses in New Zealand fact sheet that's just been released by the government.

Small Business Minister Craig Foss says they're making a huge contribution to the economy.

"It reinforces other reports which show that smaller businesses dominate our industries and play a vital role in generating jobs, innovation and overseas income," he said.

The fact sheet shows that:

* 97 per cent of all enterprises have fewer than 20 employees

* These small enterprises employ almost a third of workers in New Zealand

* They produce an estimated 26 per cent of New Zealand's GDP

* Businesses with fewer than 20 employees created almost half of all jobs in the year ending December 2014.

image beaconimage beaconimage beacon