Big firms overtake small firms as job creators

Small firms added only 2,100 staff last year.

According to Bloomberg, larger companies created more jobs last year than small and medium-sized businesses for the first time since 2013 as the economy struggled in the face of sluggish domestic demand and a slump in global trade.

Bigger companies – defined as those with annual revenue exceeding $100m (US$71m) or employing more than 200 staff – added a net 4,300 jobs last year, more than double the 2,100 by smaller firms, said the Ministry of Manpower in a written reply to a question from a lawmaker.

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