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

 


SMEs crucial for business growth


Hon Steven Joyce
Minister for Small Business


SMEs crucial for business growth


Small Business Minister Steven Joyce today launched a new SME Research Hub in Wellington, which pulls together important information in one place for small business owners, researchers, government officials and policy makers.

“This new research centre underlines the importance of small business to New Zealand and the New Zealand economy,” Mr Joyce says.

The hub came about following discussions between the Small Enterprise Association of Australia and New Zealand (SEAANZ) and the Ministry of Business, Innovation and Employment around how to create a central online repository of research and policy related to SMEs. With assistance from Treasury, a website has been developed that so far contains 150 research publications.

Mr Joyce also released the first Small Business Sector Report providing detailed information on the 459,000 small businesses that make up a large part of the New Zealand economy.

The report compliments the seven reports that make up the NZ Sector Reports Series released by the Government over the past year.

“Small businesses are the backbone of the New Zealand economy and this report provides valuable information on our small business sector showing the diversity and significant contribution it makes to our economy, jobs and growth,” Mr Joyce says.

“The report focuses on the Government’s Business Growth Agenda and the more than 100 specific initiatives across the six key inputs small businesses need to be successful – infrastructure, export markets, innovation, capital markets, skilled and safe workplaces, capital markets and natural resources.

“Examples include the roll out of ultrafast and rural broadband, the building of the Roads of National Significance, New Zealand Trade and Enterprise helping firms in overseas markets, changes to allow the cash-out of R&D tax losses for innovative start-ups, voluntary 90-day employment trial period, the starting-out wage, Apprenticeship Reboot programme, reduction in personal and company tax, and changes to the Resource Management Act.”

The report includes international comparisons, regional breakdowns and case studies of small businesses in different industries.

It shows:
• 97 per cent of enterprises in New Zealand are small businesses and have fewer than 20 employees
• 584,000 people employed in enterprises with fewer than 20 people, making up 30 per cent of the workforce
• small businesses contribute to 28 per cent of New Zealand’s GDP
• small businesses have higher birth and death rates than larger firms. On average 50 per cent of enterprises with 10-19 employees are still operating after 10 years
• small businesses have higher worker turnover rates than larger firm sizes
• over the past decade the number of self-employed aged 20-39 has steadily decreased, whereas numbers have increased for the over 50s
• limited experience in expanding overseas is the most common barrier to small businesses wanting to export.

“What is clear from this report is that both central and local government need to ensure they provide policy that doesn’t wrap small businesses in bureaucratic red tape and allows them to succeed, grow and create jobs,” Mr Joyce says.

“The Government knows that nothing creates jobs and boosts incomes better than business growth and investment. Through our Business Growth Agenda we want to convert a couple of years of good economic growth into a sustained lift in our economic performance that benefits New Zealand long-term.”

The SME Research Hub website is available at https://www.gen.org.nz/tikiindex.php?page=Welcome+to+the+SME+Research+Hub

The Small Business Sector Report and fact sheet are available at http://www.mbie.govt.nz/what-we-do/business-growth-agenda/sectors-reports-series/the-small-business-sector-report-and-factsheet-2014

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Gordon Campbell: On Bank Scandals (And Air Crashes)

Last month, the Australian Securities and Investment Commission (ASIC) filed proceedings against Westpac over activities that have some distinct echoes of the Libor scandal. More>>

Budget: Health Funding Must Keep Up With Need

NZNO: “The nursing team has been doing more with less for years. It’s getting to the point that we’re really worried about our colleagues, our patients, our jobs and the level of health care available for people in our country." More>>

ALSO:

Emissions Inventory: Time For The Government To Do The Right Thing

It’s time for the National Government to step up and do the right thing to reduce climate pollution as data shows New Zealand’s greenhouse gas emissions are higher than ever, the Green Party said today. More>>

ALSO:

Budget 2016: More Partnership Schools To Open

Seven new schools will join the eight Partnership Schools already open, along with further new schools opening in 2017. “The growth of this policy is a reflection of the high level of interest from educators and community leaders,” Mr Seymour says. More>>

ALSO:

No Correspondence With English: Did Brownlee Make Up Sale Of Navy Ships ‘On The Hoof?’

Having revealed that several Royal New Zealand Navy vessels have not left port in years, New Zealand First is now asking the Minister of Defence to prove he did not come up with the idea of selling HMNZS Taupo and Pukaki until the media asked him. More>>

Housing Plans: Labour- Abolish Auckland Urban Boundary
The Government should rule out any possibility of an urban growth boundary in Auckland Council’s Unitary Plan if it is serious about fixing the housing crisis. More>>
Greens - State House Solution
The Homes Not Cars policy allows Housing New Zealand to retain its dividend and, in addition, would refund its tax, to spend on the emergency building of around 450 new state houses. More>>

ALSO:

Houses And Taxes: Post-Cabinet, Pre-Budget Press Conference

The Prime Minister said that the pre-budget announcements showed that his Government is “investing in a growing economy”. He re-affirmed the National Government’s commitment to lowering personal tax rates but that any such change must fit with the fiscal reality of the time. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news