Micro and small businesses create seven out of ten jobs in Brazil
A study conducted by the Brazilian Micro and Small Business Support Service (Sebrae) reveals that micro and small businesses have been responsible for creating seven out of ten jobs with formal contracts this year. From January to May, Brazil generated a total of 865,360 formal jobs, with micro and small enterprises accounting for 594,213 of them, representing 69 percent of the total.The data are sourced from the General Register of Employed and Unemployed (Caged), which is maintained by the Ministry of Labor and Employment.According to Sebrae's head, Décio Lima, the majority of micro and small companies have up to five employees. "In a context of approximately 22 million small businesses, they play a fundamental role in the economy, comprising around 99 percent of all companies in the...