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

 


NZ Businesswomen Expecting More in 2014


15 April 2014

NZ Businesswomen Expecting More in 2014
Women more likely than men to see themselves as successful
More focused on business growth via improving profitability

Women are more confident than men of revenue performance in the year ahead while many of them focus on business growth, according to a national survey released by MYOB at the NZICA Women in Business Forum in Auckland today.

In the latest MYOB Business Monitor Report, 48% of New Zealand’s female SME operators expect their business revenue to increase in the 12 months to February 2015, with just 8% expecting a fall. Only slightly fewer men expect an increase (47%), though noticeably more expect a fall (12%).

Women have already made significant gains in revenue growth in the last six months. 34% increased revenue in the prior year, up four percentage points higher on the August 2013 Monitor.

While confident about their own performance, they have lower expectations for short-term economic improvement. The Monitor shows 41% of women who run local businesses expect the domestic economy to improve within the 12 months to February 2015, compared to 54% of men.

Overall, women are more likely than men to rate their business as a success in this survey, with 73% describing their operation as successful, compared to 68% of male business operators.

Finding work/life balance

MYOB New Zealand National Manager Enterprise Division, Allison Fairkettle says although it can be incredibly hard work, running a business is also extremely rewarding for many local women.

“For women, running your own business can be a complex juggling act of a wide range of demands,” says Mrs Fairkettle. “However the results can be very rewarding.”

“This can be particularly seen in the opportunities women have to manage their personal, family and work priorities. Nearly two-thirds of women (60%) in this survey report they are satisfied with their work/life balance.”

Women more focused on business growth

When it comes to the aspirations and goals of the business owner, 50% of both men and women responded that their business wasn’t about making a lot of money. However, more women aspire to grow their business over the long-term, at 36%, compared to men at 33%.

The survey also highlighted a surprising result: more male SME operators (17%) say their business was more about pursuing their passion and money was a secondary consideration, compared to female operators, at 14%.

“What does business growth mean to SME operators? Ultimately, it seems women are setting themselves more pragmatic goals. For 84% of females, it’s about improving revenue, compared to 70% of males,” says Mrs Fairkettle. “For 50% of women it’s also about having a team or systems in place that enable them to have a good work/life balance, compared to just 37% of men.”

Women outperforming in retail/hospitality

The survey also revealed a strong performance for women in a key sector: retail and hospitality. Overall, female business operators in the sector reported higher revenue than the sector average, with 37% seeing a rise in the last 12 months, compared to 30% of all SME operators in retail and hospitality. Just 25% saw revenue decline, compared to 33% overall.

Looking at the year to February 2015, women in retail and hospitality expect to do even better. 58% expect a revenue increase, compared to 50% overall.

Christchurch women lead the way – though Auckland women expect to outpace

The best performing female-led businesses were in Christchurch, where 41% saw an increase in annual revenue, followed by Auckland at 34%, and then Wellington at 26%.

For the 12 months to February 2015, those in Auckland are more likely to expect a revenue gain than their southern counterparts. This is in contrast to the pattern for SMEs overall where the Christchurch rebuild dominates growth. 53% of Auckland women business operators and 48% of women in Christchurch expect to improve revenue, followed by 34% in Wellington.

“It’s great to see women achieving so much for the New Zealand economy and exciting that they are positioning themselves well to take advantage of future opportunities and growth in the local market,” says Mrs Fairkettle.

“It’s also heartening to see that women are using the opportunity of running their own business to achieve a better work-life balance – fulfilling their professional goals and aspirations without sacrificing their personal wellbeing.”

For MYOB product information, research results, business tips, discussions, client service and more visit the MYOB website, or its blog, LinkedIn, Twitter, Facebook, Instagram and YouTube sites.

-ends-

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Maritime: Navigation Safety Review Raises Big Issues For The Govt

Shipping Federation: "The reports makes it clear that the ratification of the Maritime Labour convention (MLC) is long overdue. Only when the MLC is ratified will Maritime NZ be able to inspect and enforce the labour conditions on international ships visiting our ports." More>>

ALSO:

100 Years After Einstein Prediction: Gravitational Waves Found

For the first time, scientists have observed ripples in the fabric of spacetime called gravitational waves, arriving at the earth from a cataclysmic event in the distant universe. This confirms a major prediction of Albert Einstein’s 1915 general theory of relativity and opens an unprecedented new window onto the cosmos. More>>

ALSO:

Farming: Alliance Plans To Start Docking Farmer Payments

Alliance Group, New Zealand's second-largest meat cooperative, plans to start withholding some stock payments to its farmers from next week to bolster its balance sheet and force suppliers to meet their share requirements. More>>

ALSO:

Gambling: SkyCity First Half Profit Rises 30%, Helped By High Rollers

SkyCity anticipates the Auckland business will benefit from government gaming concessions which were triggered on Nov. 11 in recognition of SkyCity’s $470 million Convention Centre development. Morrison said the concessions would allow the Auckland business to lift its activity during peak period, noting it had a record revenue week over the Christmas and New Year period. More>>

ALSO:

Money For Light: Kiwi Scientists Secure Preferential Access To Synchrotron

Science and Innovation Minister Steven Joyce today announced a three-year investment of $2.8 million in the Australian Synchrotron, the largest piece of scientific infrastructure in the Southern Hemisphere, to secure preferential access for Kiwi scientists. More>>

Telco Industry Report: Investment Hits $1.7 Bln A Year

Investment in the telecommunications sector is $1.7 billion a year, proportionately one of the highest levels in the OECD, according to a report released today on the status of the New Zealand sector. More>>

ALSO:

PGPs: New Programme Sets Sights On Strong Wool

A new collaboration between The New Zealand Merino Company (NZM) and the Ministry for Primary Industries (MPI), announced today, aims to deliver premiums for New Zealand's strong wool sector... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news