What does a “medium” business look like? Understanding how various organisations define business size categories is important for several reasons.
New Zealand is a nation of small and micro businesses representing more than 97 percent of all firms. They account for 28 percent of employment and contribute over a quarter of New Zealand’s gross domestic product (GDP).
New Zealand has a higher percentage of small and micro businesses than most other countries, noting that, unlike New Zealand, most countries define small businesses as having fewer than 50 employees. Similarly, our large enterprises are generally smaller than those overseas.
While you’re probably familiar with the dominance of small businesses in New Zealand, it’s good to know exactly what that means and may even help you with your own business planning.
