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Govt reacts to small business group recommendations

The Government has responded to the recommendations outlined in the latest Small Business Development Group report released last week.

The report comes from the Small Business Development Group, a ministerial-appointed panel of small business owners who advise the government about how policies affect small business.

In New Zealand, small enterprises are made up of up to 20 employees. According to the latest data from Statistics New Zealand, they account for 97% (487,602) of all enterprises, 29% (599,880) of all employees, and an estimated 26% of New Zealand’s Gross Domestic Product.

The 2015 Small Business Development Group report recommends:

• Improving how government communicates with business owners

• Helping businesses better understand changes in legislation

• Simplifying the tax system for small businesses

• Ensuring small businesses have the infrastructure and tools to keep pace with technology.

Small Business Minister Craig Foss says the responses outline how the Government is creating an environment that makes it easier for small businesses to succeed.

“I welcome the report from the Small Business Development Group and thank the members for their work and expert advice,” says Foss.

“The Government has a range of initiatives underway that align with these recommendations. For example, changes being made to the tax system as part of Budget 2016 will remove a significant source of stress for small enterprises,” he explains.

Click here to read the Small Business Development Group Report and here for the Government Response.

“This Government continuously works to improve the economic and regulatory environment so that small businesses can grow and thrive,” Foss Adds.