Freetown, Sierra Leone, September 18, 2023 – A groundbreaking preliminary report from the Census of Business Establishments (CBE) conducted by Stats SL has unveiled that Sierra Leone is home to a staggering 165,514 business establishments.
The comprehensive survey, funded by the World Bank through the HISWA Project, is conducted every five years to capture the full spectrum of businesses in Sierra Leone, from registered entities to street vendors operating under canopies.
Notably, the CBE, which took place from December 2022 through the first quarter of 2023, excluded mobile businesses without fixed addresses, ensuring a comprehensive yet precise count of the nation’s economic landscape.
Breaking down the figures, 48,299 of these establishments fall into the category of permanent and regular businesses, while the remaining 117,215 are characterized as non-permanent tiny businesses. Trade emerges as the dominant sector at 70.6%, with manufacturing following at 12.1%. Hotels, restaurants, bars, and personal services, encompassing hairdressing, beauty salons, and household repairs, make up 4.6% and 4.0%, respectively.
In terms of longevity, over half of these businesses have been thriving for five years or more, with 33.1% falling in the 2-4 year range. Remarkably, 14.7% have sprung into existence since 2022, underscoring Sierra Leone’s entrepreneurial dynamism.
The survey delves into the legal structure of these businesses, revealing that 91.0% are sole proprietorships, 4.2% are partnerships, 0.8% are limited liability companies, 0.3% are cooperatives, and 0.5% are government-owned entities. Intriguingly, 3.2% of these establishments remain classified as unknown.
Employment statistics reveal a total workforce of 235,413, with a majority of businesses, 64.6%, employing just one or two individuals.
Geographically, the western area stands as the epicenter of business activity with 48.3% of establishments located there. The eastern province, northern, southern, and north-west regions account for 16.4%, 14.7%, 12.3%, and 8.3% respectively.
In a related development, Stats SL has also unveiled the Consumer Price Index Technical Guide Manual, a pioneering resource in Sierra Leone. This manual offers an illuminating look into the methodologies and procedures for calculating the Consumer Price Index, a vital tool for measuring inflation.
