Story image

Kiwi entrepreneurs lead international counterparts... but remain wary of election result

18 Sep 14

Compared to their global counterparts, more Kiwi entrepreneurs are profitable, more have increased staff and more have grown revenues in the past six months - but the imminent election is still unsettling nerves.

This according to insights from the Global Entrepreneur Indicator survey by the world-wide Entrepreneurs’ Organisation (EO) including its New Zealand chapters.

The Indicator published this month (Sep. 2014) is for the six month period to 31 August - it shows 62 per cent of EO NZ members saw increased net profits, 87 per cent increased full time employees and all maintained or increased their access to capital.

David Serville, President of the Auckland Entrepreneurs’ Organisation, says the survey results are reassuring for New Zealand.

“Compared to EO members worldwide, businesses owned by Kiwi entrepreneurs are in great shape,” Serville says.

“It’s fantastic to see such strong financial growth in our members. However when it comes to the confidence in our country’s economic environment, we’re lagging on the positivity we had six months ago.”

In March 2014, 94 per cent of those surveyed believed NZ’s economic environment would improve in the coming six months; that’s now dropped to 62 per cent.

“It’s still an above average optimistic outlook but with the election looming - and with it the possibility of a change in government and new policy agendas - it’s clear our business owners are more wary and that economic issues are ranking high on their election list of concerns," Serville adds.

“Issues weighing on EO members’ minds include potential interest rate hikes which will make borrowing and servicing debt more difficult, the potential introduction of a capital gains tax which could add significant transaction costs and the overall stability of the exchange rate."

Despite these concerns, Serville notes that overall the results still show the Kiwi entrepreneurial spirit shining through.

“Looking forward however, the Indicator shows they still remain positive with members expecting to continue to grow both full time and part time staff numbers as well as improve their profits above average," he adds.

“Additionally an encouraging 93 per cent are even inclined to start a new business - it’s great to see the entrepreneurial spirit remains alive and well here in New Zealand."

The Entrepreneurs’ Organisation Global Entrepreneur Indicator is generated every six months and surveys members from its 144 chapters worldwide across 48 countries.

Wine firm uses AR to tell its story right on the bottle
A Central Otago wine company is using augmented reality (AR) and a ‘digital first’ strategy to change the way it builds its brand and engages with customers.
DigiCert conquers Google's distrust of Symantec certs
“This could have been an extremely disruptive event to online commerce," comments DigiCert CEO John Merrill. 
Protecting organisations against internal fraud
Most companies tend to take a basic approach that focuses on numbers and compliance, without much room for grey areas or negotiation.
Telesmart to deliver Cloud Calling for Microsoft Teams
The integration will allow Telesmart’s Cloud Calling for Microsoft Teams to natively enable external voice connectivity from within Teams collaborative workflow environment.
Jade Software & Ambit take chatbots to next level of AI
“Conversation Agents present a huge opportunity to increase customer and employee engagement in a cost-effective manner."
52mil users affected by Google+’s second data breach
Google+ APIs will be shut down within the next 90 days, and the consumer platform will be disabled in April 2019 instead of August 2019 as originally planned.
GirlBoss wins 2018 YES Emerging Alumni of the Year Award
The people have spoken – GirlBoss CEO and founder Alexia Hilbertidou has been crowned this year’s Young Enterprise Scheme (YES) Emerging Alumni of the Year.
SingleSource scores R&D grant to explore digital identity over blockchain
Callaghan Innovation has awarded a $318,000 R&D grant to Auckland-based firm SingleSource, a company that applies risk scoring to digital identity.