17 October 2016

Good weather ahead – small firms show confidence

Spring is in the air for New Zealand’s small businesses, many of who are seeing fine economic weather ahead. However, a lack of skilled staff is putting a strain on growth, according to ANZ’s quarterly Business Micro Scope survey of small firms.

A net 17% of respondents - up from 8% in June - say they are confident about the business environment in the year ahead. Within this group, businesses employing 6 – 20 employees were the most optimistic, jumping 15 points to a net 26%.

The ANZ composite measure – a key proxy for growth – lifted to +15 during the quarter. The composite measure is based on firms’ activity outlook, hiring, investment and profit expectations, all which improved in the September quarter.

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