Image: Valeriano Di Domenico/World Economic Forum Image: Valeriano Di Domenico/World Economic Forum

One of the world's biggest gatherings of business, political and economic leaders is irrelevant to small businesses, according to a new study.

The World Economic Forum takes place in the Swiss ski resort of Davos every year, but just 4% of small businesses surveyed by Sage feel it is relevant to their company, and nearly 60% said they weren't even aware of the event.

This year's focus is the Fourth Industrial Revolution, where technology is blurring the lines between the physical, digital and biological – and in the face of it, how we avoid a world of joblessness, low productivity and inequality.

Sage says these types of debates cannot and should not take place without a significant small business presence, given that small businesses are responsible for creating two thirds of jobs in developed economies. The business software firm said the World Economic Forum is massively under-representing small businesses.

Stephen Kelly, Sage CEO, said: "Once again, small and medium businesses are woefully under-represented at Davos. This means that the issues they face simply won't get aired in the way they should. But even more than that, Davos’ small business 'blind spot' proves a very real risk for the global economy.

“We believe that unlocking the potential of small businesses could deliver significant growth to the global economy. World leaders MUST pay more attention to the ‘hand that feeds the economy’.”