Cyprus remains a micro enterprise economy

Cyprus remains a micro enterprise economy, according to the Statistical Service’s preliminary results of the Census of Enterprises which was carried out in 2005.

According to the main findings, the size of the Cypriot enterprises remains very small with only 4.7 persons employed on average per enterprise.

Moreover, 60% of the enterprises employ only one person, 34% employ 2-9 persons, 5% employ 10-49 and only 1% of enterprises employ 50 or more employees.

The Census of Enterprises covered all sectors of the economy except of the agricultural and fishing sector. The Census enumerated 67 thousand enterprises which employed 314 thousand persons.

The sectors with the largest employment were the wholesale and retail trade where 62,000 persons were employed, the hotels and restaurants sector with 38,000 persons, the sector of manufacturing with 36,000 employees and the construction sector which provides employment for 32,000 persons.

Nicosia district accommodates 38% of the enterprises, Limassol 28%, Larnaka 16%, Pafos 12% and Famagusta 6%.