Around 4.8 million people worked for small businesses at the end of June 2017—up 66,000 or 1.4 per cent compared with the previous year. Since 2013 the number of small business employees has increased by 197,000 or 4.3 per cent.
The small business share of total employment in selected industries has fallen from 46 per cent at the end of June 2009 to 44 per cent at the end of June 2017. This is primarily due to stronger growth in the number of employees working for large and medium–sized enterprises in this period compared with small firms (growth of 578,000 for larger enterprises and 283,000 for medium–sized businesses compared with growth of 212,000 for small businesses).
While the small business sector accounted for close to 44 per cent of total employment in selected private sector industries, it accounted for 35 per cent of total Industry Valued Added (IVA) for the same industries combined, 34 per cent of sales and service income and only 28 per cent of total wages and salaries.