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Summary
| Small and medium sized enterprises constitute the majority of all enterprises in New Zealand.... | - 85% of enterprises employ 5 or less full time equivalents (FTEs).
- 96% of enterprises employ 19 or fewer FTEs.
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| ...and the number of SMEs is increasing. | - The number of SMEs (0-19 FTEs) increased 30.9% between 1994 and 1998.
- Small firms (0-5 FTEs) have shown the greatest growth, with the number of enterprises increasing 35% between 1994 and 1998.
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| In line with this increase has been a decline in the average enterprise size. | - The average number of workers per enterprise has fallen from seven in 1994 to just over six in 1998.
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| SMEs also account for a significant proportion of total employment... | - SMEs account for 42% of all employees.
- Small firms account for 24% of all employees.
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| ....and output. | - Using sales and other income as a measure of output, SMES account for 33% of the economy.
- Small firms contribute 17% of total output.
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| SMEs have played a key part in the increase in enterprise dynamic in New Zealand | - Births and deaths among small firms have increased 142% and 126% respectively over the last decade.
- These increases account for 95% of the total increase in enterprise dynamic in the economy.
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| By international comparison, SMEs form a significant component of the New Zealand economy. | - SMEs are more predominant in New Zealand than in many other countries.
- SMEs account for a high proportion of employment in New Zealand relative to other countries.
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