Small and medium enterprises employ 20 people or fewer but make up 95 per cent of registered businesses and are responsible for about 50 per cent of New Zealand jobs.
They are often referred to as the engines of economic growth and make up 95 per cent of registered businesses in New Zealand.
Furthermore there are instances where their size and flexibility allows them advantages over larger firms. They provide the channels along which new products and services can be developed.
Through innovation many of these businesses can compete with their larger, better resourced competitors and not only in the areas of information technology and software.
If creativity is a good idea, then innovation is putting that good idea to use.
Many commentators says they believe innovation is the key to New Zealand business success.