The State of Small Business in Barbados

National Survey of the Small Business Sector (Barbados)

Table 1.2: Private Sector Total Employers and Employment by Sector (including Large Enterprises) Size Median Employees per Firm (Survey Data) Employers (NISSS data) Employees (NISSS data)

Sector

Size Employers Employees

Sector

Agriculture Micro

234

336 513 852 331 854

Small

44

Agriculture Micro

1

234

336

Medium 13

Large Micro Small Large Micro Small

2

Small

13

44 13

513 852 854

Industry

591 140

Medium 33

1,724 4,408 8,522 9,428

Industry Micro

2 8

591 140

Medium 81

Small

1,724 4,408 9,428

22

Medium 41

81

Services

6,126 1,197

Services Micro

1 6

6,126 1,197

13,679 29,762 42,186

Small

13,679

Medium 591

Medium 29

591

29,762

Large

155

Table 1.2: Private Sector Total Employers and Employment for the MSME Sector (including Large Enterprises)

Note. Data derived from official NISSS data. Not from estimated values. Table 1.3: Private Sector Total Employers and Employment for the MSME Sector

Survey-based median employment figures (in Table 1.3) provide valuable context for interpreting the administrative records of total employer and employment counts.

2016

2025

As shown in Figure 1.1 (2016 vs 2025 change in MSME firms and employment shares), small enterprises accounted for the largest share of employment in 2016 (41.7%), but this declined sharply to 14.0% in 2025. In contrast, medium-sized enterprises increased their share of employment from 14.6% to 31.0%, while large firms expanded their share from 39.3% to 45.0%. Micro enterprises also increased modestly from 4.4% to 10.0%.

50%

45.0%

41.7%

39.3%

40%

31.0%

30%

20%

14.0% 14.6%

10% Employment Share (%) 4.4% 10.0%

0%

Micro

Small

Medium

Large

Company Size

Figure 1.1 Comparisons of Total Employment Shares (%) of MSME by Size for 2025 vs 2016 Datasets

These shifts suggest that employment growth has been driven not by an expansion in the number of firms, but by the growth and labour absorption capacity of larger and more established enterprises. Medium-sized firms, in particular, appear to have played a critical transitional role, expanding significantly and capturing a larger share of total employment.

9

Small Business Association of Barbados