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


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Wellington.Scoop: Serco – First The Prisons, And Now It Wants To Run The Trains

As the government continues its inquiry into Serco’s discredited administration of Mt Eden prison in Auckland, here in Wellington there’s further scrutiny of the British outsourcing company – because it’s competing to take over the running of our commuter trains. More>>


Gordon Campbell: On The TPP Countdown, And Mary Margaret O’Hara

To date, the Key government has been unwilling to share any information about this TPP deal until it is too late for outraged public opinion to affect the outcome... the disclosure process is likely to consist of a similarly skewed and careful exercise in spin. More>>


Australia Deportations: English Relaxed On Immigration Centre Conditions

Labour's Annette King: “There have been numerous reports from inside these detention centres on just how bad conditions are... If they were being held in any other foreign jail, I imagine Mr English would be somewhat concerned. More>>


Schools: Achievement-Based Funding Would Be A Disaster

The Education Minister’s speech to the PPTA Conference raising the spectre of achievement data driving a new funding system would be disastrous, says NZEI Te Riu Roa. More>>

  • Video Out-Link - PPTA Annual Conference 2015 on Livestream (Q+A dicussion suggests funding would be directed to less successful schools.)

  • ALSO:

    ECE Report:

    Key In NY: Prime Minister Addresses United Nations

    Prime Minister John Key has addressed the United Nations General Assembly in New York, focusing on a call for action in Syria and on other conflicts, reform of the veto process and on the UN’s Sustainable Development Goals. More>>.


    Gordon Campbell: On The Lack Of Accountability Over Philip Smith

    In New Zealand, accountability is an exotic creature rarely glimpsed at ministerial level, or among senior management. The flight to Rio by the paedophile /murderer Philip John Smith/Traynor is no exception. More>>


    More On Corrections

    Get More From Scoop



    Search Scoop  
    Powered by Vodafone
    NZ independent news