Kiwi SMBs back themselves in tough times: report
Business owners are optimistic about their ability to ride out tough economic times, with twice as many predicting revenue growth in their own business than are expecting recovery in the broader economy.
According to figures from the MYOB Business Monitor, only 21% of New Zealand businesses are predicting an economic recovery over the next 12 months. Despite this, 42% anticipated their own business would achieve revenue growth.
33% of respondents reported having more work than usual in the pipeline, rising to 43% in Christchurch, where the earthquake rebuild is slowly gathering steam.
The number of kiwi businesses with their own websites was still low, at just 32%. This despite those businesses with websites reporting benefits such as more customer leads (43%), improved customer interaction (35%) and increased revenue (30%).
MYOB general manager Julian Smith says in a blog post that the result shows people put too much stock in measures of business confidence.
"With all the pundits and the commentary in the media over the last few years constantly pushing the message that the sky is falling, it’s no wonder businesses are feeling a little glass-half-empty when it comes to the economy,” Smith says.
"In fact, I think it’s immensely positive to see business owners, even though they may be concerned about the wider environment, showing the same resiliency as we have seen throughout the recession, and focusing on their own business.”