Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Small firms stronger for longer – ANZ Business Micro Scope

4 April 2014

Small firms stronger for longer – ANZ Business Micro Scope

Small business confidence improved for a sixth consecutive quarter to touch a new high in the three months to March, according to ANZ’s quarterly Business Micro Scope survey of small firms.

Sentiment lifted in retail, construction, agriculture and services, with the service sector again topping the survey for confidence.

Firms’ expectations of their own activity, hiring, investment and profitability for the coming year all soared to new highs in March. Optimism remains strong across all regions, rising to record highs in both Auckland and provincial New Zealand.

Fred Ohlsson, ANZ’s Managing Director, Retail & Business Banking, said: “We’re seeing a groundswell of business optimism which has now spread across the business community. The Canterbury rebuild has helped to spark this upswing but it’s really promising that we are now seeing confidence grow right across the country.

“The rest of the South Island is prospering from the combined flow on from the rebuild and high commodity prices, while prospects in our largest city, Auckland, have also taken a big step up. This bodes well for a broad-based uplift in business activity, employment and economic growth which will benefit the whole country.

“Small businesses account for 90 per cent of firms in New Zealand and employ nearly a third of all New Zealanders – so when small businesses are in a good mood it’s good for New Zealand,” Mr Ohlsson said.

Highlights from the March 2014 ANZ Business Micro Scope survey of small firms: [Net percentages reflect the balance of sentiment – i.e. positive minus negative responses]

• Confidence is at its highest since comparable data was first collected in 1999, with record numbers of firms expecting to up activity, hiring, investment and profitability
• A net +49% of firms expect to lift business activity in the coming year, double the long-term average. A net +17% plan to take on more staff and +33% expect profits to rise.
• The South Island (excl. Canterbury) is most upbeat (up 1 point to +31%). Auckland firms continue to gain confidence, surpassing last quarter’s record optimism with a new high of +26%.
• Services is the most upbeat sector, at +29%. Construction recorded the largest lift in confidence (from +21% to +26%) and was top for profitability expectations.

Click here for the full report.

ANZ Business Micro Scope: Technical Notes
The ANZ Business Micro Scope is a quarterly indicator which focuses on the prospects of small businesses across New Zealand. The survey was launched in March 2012 to address a lack of ongoing research specific to the small business sector. The Micro Scope covers a range of key business intentions and views on prospects for both respondents’ own businesses and the wider economy. Figures released today cover the quarter to 31 March 2014.

The survey takes in responses from 250 firms, comprising micro (up to 5 staff) and intermediate sized businesses (6 to 20 staff). The sample is taken from the ANZ Business Outlook survey, which covers micro up to large businesses. Comparisons from before March 2012 are calculated by extracting corresponding data on small businesses from that survey, which goes back to December 1999.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Keep Digging: Seabed Ironsands Miner TransTasman Tries Again

The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand's Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes will persuade regulators after their initial application was turned down in 2014. More>>

Wool Pulled: Duvets Sold As ‘Premium Alpaca’ Mostly Sheep’s Wool

Rotorua business Budge Collection Limited (Budge) and sole director, Sun Dong Kim, were convicted and fined a total of $71,250 in Auckland District Court after each pleading guilty to four charges of misrepresenting how much alpaca fibre was in their duvets. More>>

Reserve Bank: Labour Calls For Monetary Policy To Expand Goals

Labour's comments follow a speech today by RBNZ governor Graeme Wheeler in which Wheeler sought to answer critics who variously say he should stop lowering interest rates, lower them faster, or that inflation-targeting should no longer be the primary goal of the central bank's activities. More>>

ALSO:

BSA Extension And Sunday Morning Ads: Digital Convergence Bill Captures Online Content

Broadcasting Minister Amy Adams has today announced the Government’s plans to update the Broadcasting Act to better reflect today’s converged market... The Government considered four areas as part of its review into content regulation: classification requirements, advertising restrictions, election programming and contestable funding. More>>

ALSO:

March 2017: Commerce Commission Delays Decision On Fairfax-NZME

The Commerce Commission has delayed its decision on the proposed merger between NZME and Fairfax Media's New Zealand assets, saying the deal is complex and it needs more time to assess the impact on both news content and the advertising market. More>>

ALSO:

Plan Plan: Permanent Independent Hearings Panel Proposed For Planning

The Productivity Commission recommends creating a permanent independent hearings panel like the one that cut through local politics to settle Auckland’s Unitary Plan, for the whole country. More>>

ALSO:

Statistics: NZ Jobless Rate Falls To 5.1% Under New Methodology

New Zealand's unemployment rate fell more than expected in the second quarter as Statistics New Zealand adopted a new way of measuring the labour market to bring the country in line with international practices, and while a growing economy continued to support jobs growth. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news