Introduction
Small and medium sized enterprises (SMEs) are viewed as source of flexibility and innovation, and make a significant contribution to economies, both in terms of the number of SMEs and the proportion of the labour force employed by these firms. The significance of the SME sector in New Zealand is increasing as large firms downsize to compete in the international market, workers face less job security, and more people turn their hand to small business at retirement or as a lifestyle choice. With further opportunities presented by globalisation and technological development, the role of SMEs seems more likely to continue to increase than to diminish in the coming years.
This report aims to provide a statistical summary of the nature of the SME sector in New Zealand, examining its significance to the economy, its financial performance, the dynamics of SMEs - births, deaths and transition rates, and the significance of the SME sector internationally. Unless otherwise stated, the statistics contained in this report have been provided by Statistics New Zealand (SNZ). Financial data is drawn from the SNZ Annual Enterprise Survey, while the remainder of the figures are from SNZ's Business Demography Statistics, drawn from the Business Frame. This report updates the previous edition released in May 1999.
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