According to the Global Reporting Initiative (GRI) SMEs account for about 90 per cent of business worldwide, employing 50 to 60 per cent of the world’s workforce. In Australia, Australian Bureau of Statistics data indicate small businesses in Australia comprise up to 89 per cent of all employing enterprises, with medium businesses making up another 10 per cent.
The SME sector is not only huge but also extremely diverse – with 60% of all of these businesses not having any employees – this diversity creates challenges on many levels and areas including responsible business practices, corporate sustainability and philanthropy.