Small businesses accounted for 8 out of every 10 jobs created in 2023, according to a recent study conducted by the Brazilian Service of Support for Micro and Small Enterprises (SEBRAE). The study, based on data from the General Registry of Employed and Unemployed (Caged), revealed that small businesses played a significant role in job creation for the third consecutive year.
Out of a total of 1.48 million new jobs generated in the country last year, small businesses were responsible for 1.18 million of them, equivalent to 80.1%. On the other hand, medium and large enterprises (MGE) created 209,990 jobs, representing 14.2% of the total.
The statistics indicate the vital contribution of small businesses to employment growth in Brazil. Over the past three years, these enterprises have consistently been the primary drivers of new job opportunities. This trend underscores the resilience and importance of small businesses within the country’s economy.
The data highlights the significance of fostering an entrepreneurial ecosystem that supports the growth and development of small businesses. These enterprises play a crucial role in job creation, driving economic growth, and contributing to the overall prosperity of the nation.
The findings of this study encourage policymakers to continue implementing strategies that promote and facilitate the establishment and expansion of small businesses. This includes providing accessible financing options, offering business training and mentorship programs, and reducing bureaucratic barriers.
Small businesses are often considered the backbone of the economy, as they provide employment opportunities, contribute to innovation, and enhance competition. Recognizing their significance, it is essential to create an enabling environment that empowers these enterprises to thrive.
As Brazil moves forward, policymakers and stakeholders must prioritize policies and initiatives that foster the growth and success of small businesses. By doing so, they can ensure a robust and dynamic economy that benefits all sectors of society.
