Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Small Business steams ahead

3 October 2003 Media Statement

Small Business steams ahead

Minister for Small Business John Tamihere today welcomed new figures which show small business growth outperformed the rest of the economy in a healthy June quarter for the sector.

The figures, published in the National Bank's Small Business Monitor today, show that the small business sector grew 1.4 per cent in the three months to June 30, taking year-on-year growth to 5.5 per cent.

That compares to growth in the economy as a whole of 0.2 per cent and growth for the year of 2.7 per cent.

A key feature of the June quarter was strong growth across all areas of small business. Manufacturing, construction, wholesale and retail sales and the service industry all recorded solid growth. Growth was strongest in the retail and housing sectors.

According to National Bank Chief Economist John McDermott, "small businesses have been busy keeping our economy afloat," and their growth reflected "wonderful performance."

Mr Tamihere said it was great to see small businesses performing so well, as their performance was crucial to the economy as a whole.

"Small-medium enterprises make a vital contribution to the economy – 97 per cent of New Zealand firms have fewer than 20 employees; and 87 per cent have five or fewer employees. We need to make sure we create the best environment for small business to thrive."

Mr Tamihere said a comprehensive package of Government initiatives, including the recently released discussion document on tax simplification, the Small Business Advisory Group to be appointed shortly, and the SME Summit in February 2004, would all help small-medium enterprises do even better.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news