Story image

Use of technology in small Kiwi business on the rise

07 Nov 14

The Five Year MYOB Business Monitor Report shows use of technology in small businesses in New Zealand is on the up and up.

The report uses data from the biannual national survey, which focuses on 1,000 small and medium business operators throughout New Zealand over the five years from July 2009.

A particularly notable trend was that twice as many businesses reported revenue growth as opposed to losses, which more than reverses the trend from mid 2009.

“New Zealand’s SME sector has been on a steady climb back to growth since 2009,” says Tim Reed, MYOB CEO. “Thanks to the hard work of businesses across the country, that growth is now stable and widespread - with few businesses now experiencing losses or expecting them in the coming year.”

According to the report, technology is playing a major role in how businesses are evolving and could be contributing to the increase in revenue. The report shows the last five years have seen an unprecedented change in the use of technology by SMEs.

In particular, more and more businesses are creating an online presence, both engaging with social media and building their own website. The amount of businesses with an online presence has grown from 27 percent in 2010 to 23 percent in 2014.

Social media in particular has dramatically increased. Currently, 25 percent of local businesses now operate a social media site and 42 percent use the platform specifically for business.

Reed says an online presence can enable businesses to enjoy better relationships with customers and convert more inquiries.

“We know from the survey that businesses with an online presence […] are typically up to 30 percent more likely to earn more,” he says.

Furthermore, 52 percent of businesses in New Zealand now accept online payments.

The use of technology in the workplace has grown as well, with 39 percent of businesses using tablets daily.

Reed says the the adoption of internet services and products is a key part of the growth of New Zealand businesses over the past five years.

“New Zealanders love technology, and it is great to see over the last five years, more and more business owners have begun exploring the opportunities that a whole raft of technology tools can bring to their business," he says.

Commerce Commission report shows fibre is hot on the heels of copper
The report shows that as of 30 September 2018 there were 668,850 households and businesses connected to fibre, an increase of 45% from 2017.
Dr Ryan Ko steps down as head of Cybersecurity Researchers of Waikato
Dr Ko is off to Australia to become the University of Queensland’s UQ Cyber Security chair and director.
Businesses in APAC are ahead of the global digital transformation game
“And it’s more about people and culture - about change management - along with investing in the technology.”
HubSpot announces fund for 'customer first' startups
HubSpot is pouring US$30 million (NZ$40 million) into a new fund to support startups that demonstrate ‘customer first’ approach of not only growing bigger, but growing better.
Mac malware on WatchGuard’s top ten list for first time
The report is based on data from active WatchGuard Firebox unified threat management appliances and covers the major malware campaigns.
LearnCoach closes $1.5m seed round
The tutorials are designed for students who want to learn NCEA subjects but can’t make it to a physical classroom.
Bin 'em: Those bomb threat emails are complete hoaxes
A worldwide spate of spam emails claiming there is a bomb in the recipient’s building is almost certainly a hoax.
Marriott sets up call centres to answer questions on data breach
Marriott has released an update on the breach of the Starwood guest reservation data breach which affected 500 million guests.