BARBADOS’ Micro, small and medium-sized enterprises (MSMEs) are bringing in the lion’s share of revenue generated by the private, non-agricultural sector into the Government’s coffers, a just-released report has confirmed.
The survey found that MSMEs contributed 47.5 per cent of the $7.3 billion revenue generated, with small enterprises accounting for an estimated 23.2 per cent. The figure stood at 21.5 per cent for medium-sized enterprises.
“As expected, given the structure of the economy, the majority of revenue was generated by the services sector (75 per cent). MSMEs in services contributed approximately 39.4 per cent in total revenue,” stated researchers from the Sir Arthur Lewis Institute for Social and Economic Studies (SALISES). (WILLCOMM)
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