We define small business as having less than 20 employees, although there isn’t an official definition in Aotearoa.
Number of businesses by employee size group
There are 612,417 businesses in New Zealand — 97% of them are small businesses.
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Small business facts
Source: Business Demography Statistics, Statistics New Zealand, 2024
| Employees | Number of businesses |
|---|---|
| 0 | 448,233 |
| 1 to 5 | 102,399 |
| 6 to 19 | 43,941 |
| 20 to 49 | 11,484 |
| 50 or more | 6,360 |
| Total | 612,417 |
Number and percentage of small businesses by industry
The rental, hiring and real estate industry has the largest amount and greatest proportion (99.79%) of small businesses. Financial and insurance services come in second in terms of proportion, with 99.45% of the industry being small businesses.
Source: Business Demography Statistics, Statistics New Zealand, 2024
| Industry | Small businesses | Medium and large businesses | Total | Small business % |
|---|---|---|---|---|
| Rental, hiring and real estate | 127,809 | 264 | 128,073 | 99.79% |
| Financial and insurance services | 45,966 | 252 | 174,291 | 99.45% |
| Agriculture, forestry, and fishing | 61,362 | 915 | 108,495 | 98.53% |
| Other services | 28,245 | 573 | 91,095 | 98.01% |
| Construction | 80,202 | 1,695 | 110,715 | 97.93% |
| Professional, scientific, and technical services | 70,989 | 1,632 | 154,518 | 97.75% |
| Information media and telecommunications | 7,422 | 171 | 80,214 | 97.75% |
| Arts and recreation services | 11,661 | 375 | 19,629 | 96.88% |
| Transport, postal, and warehousing | 16,617 | 636 | 29,289 | 96.31% |
| Administrative and support services | 21,198 | 822 | 39,273 | 96.27% |
| Mining | 660 | 30 | 22,710 | 95.65% |
| Retail trade | 28,455 | 1,434 | 30,579 | 95.20% |
| Health care and social assistance | 23,484 | 1,470 | 54,843 | 94.11% |
| Wholesale trade | 15,498 | 1,143 | 41,595 | 93.13% |
| Accommodation and food services | 23,382 | 1,824 | 41,847 | 92.76% |
| Electricity, gas, water, and waste services | 1,176 | 93 | 26,475 | 92.67% |
| Manufacturing | 20,805 | 2,055 | 24,129 | 91.01% |
| Public administration and safety | 1,149 | 273 | 24,282 | 80.80% |
| Education and training | 8,496 | 2,166 | 12,084 | 79.68% |
| Total | 594,576 | 17,823 | 612,399 | 97.09% |
Average salaries and wage per employee
The average salary and wages for small business employees increased with inflation from 2019 to 2021.
Source: Annual Enterprise Survey, Statistics New Zealand, 2021
| Year | Salary |
|---|---|
| 2019 | $51,546 |
| 2020 | $54,596 |
| 2021 | $56,964 |
Average years in business by business size (employees)
On average, 92% of small businesses are in business for at least one year. Ten years later, 44% of them are still in business.
Source: Business Demography Statistics, Statistics New Zealand, 2024
| Years since opening | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Business size (employees) | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| 0 employees | 84% | 65% | 54% | 46% | 41% | 37% | 33% | 30% | 28% | 25% |
| 1 to 5 employees | 92% | 80% | 70% | 62% | 55% | 51% | 47% | 44% | 41% | 38% |
| 6 to 9 employees | 95% | 86% | 76% | 69% | 62% | 56% | 52% | 50% | 46% | 44% |
| 10 to 19 employees | 95% | 84% | 75% | 67% | 62% | 57% | 55% | 51% | 46% | 44% |
Opens and closures of employing small businesses
2024 saw a dip in the number of businesses that opened, and an increase in the number of closures.
Source: Business Demography Statistics, Statistics New Zealand, 2024
| Year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Opens (000s) | 65 | 60 | 69 | 63 | 68 | 61 | 66 | 76 | 71 | 68 |
| Closures (000s) | 52 | 51 | 54 | 57 | 56 | 50 | 57 | 50 | 59 | 66 |
Exporting insights
The value of New Zealand’s exports steadily increased in the ten years to March 2024. Our top 5 export destinations and export products also remained relatively stable over this time.
Imports and exports over time (Year ending March 2024)
The value of New Zealand’s imports has exceeded the value of our exports since 2022.
Source: Statistics New Zealand, 2024
| Year | Imports ($ Billion) | Exports ($ Billion) |
|---|---|---|
| 2015 | 65 | 68 |
| 2016 | 67 | 71 |
| 2017 | 68 | 72 |
| 2018 | 75 | 80 |
| 2019 | 83 | 85 |
| 2020 | 85 | 88 |
| 2021 | 71 | 72 |
| 2022 | 91 | 80 |
| 2023 | 112 | 94 |
| 2024 | 106 | 98 |
Top 5 exports by product (Year ending March 2024)
Our largest export is dairy with a value of $20 billion, followed by travel with a value of $14 billion in the year ending March 2024.
Source: Statistics New Zealand, 2024
| Description | Value ($ Billion) |
|---|---|
| Dairy | 20 |
| Travel | 14 |
| Meat and edible offal | 9 |
| Wood | 5 |
| Transportation | 4 |
Top 5 export destinations (Year ending March 2024)
Most of New Zealand’s exports go to the People’s Republic of China, followed by the United States of America and Australia.
Source: Statistics New Zealand, 2024
| Country | Value ($ Billion) |
|---|---|
| China, People’s Republic of | 20.9 |
| United States of America | 15.7 |
| Australia | 15.4 |
| Japan | 4.2 |
| United Kingdom | 3.2 |
Sectors and manufacturing data
The graphs below show an overview of sectors and manufacturing in New Zealand. Food and beverage, and machinery and equipment are our largest manufacturing industries.
Proportion of manufacturing sector by industry
Food and beverage is New Zealand’s largest manufacturing industry.
Source: MBIE, 2023
| Sector | % of manufacturing |
|---|---|
| Chemical & refining | 6% |
| Plastics and rubber | 2% |
| Food & beverage | 33% |
| Metals | 10% |
| Wood & paper | 12% |
| Other manufacturing | 14% |
| Machinery & equipment | 24% |
Contribution to gross domestic product (GDP) by manufacturing sector
Food and beverage manufacturing contributed the most value to New Zealand’s Gross domestic product (GDP) in 2023.
Source: MBIE, 2023
| Sector | Real GDP 2023 ($ million) |
|---|---|
| Food & beverage | 7,456 |
| Machinery & equipment | 5,401 |
| Other manufacturing | 3,181 |
| Metals | 2,715 |
| Wood & paper | 2,194 |
| Chemical & refining | 1,314 |
| Plastics and rubber | 512 |
More resources
Exporting
If you are looking to grow your business, exporting could be the right option for you. Find out more about exporting and whether it suits your business.
Sole trader toolkit
As a sole trader, you’ll be looking after many parts of running a business by yourself. We have got tools and resources to get you set up and guide you.
Manufacturing
As a manufacturer, it's important that operations, including health and safety practices, run smoothly. We've got tools and resources to guide you.
StatsNZ
Explore what data is available for you, and how you can use it.