Kiwi start-ups working longer for less, but more confident

Kiwi start-ups working longer for less, but more confident

New Zealand's start-ups are expecting strong growth this year, according to the latest MYOB Business Monitor special report.

Start-ups work longer and for less financial reward than more established SMEs, yet are far more confident about their revenue performance this year, according to a special MYOB Business Monitor start-up report released today.

The report, based on the recent Business Monitor survey conducted by Colmar Brunton, compares the attitude, performance and expectations of New Zealand businesses less than two years old with that of their peers.

In the year to February 2013, start-up businesses experienced less revenue volatility than SMEs on the whole. Perhaps unsurprisingly, given their length of time in business, start-ups were significantly less likely to report a fall in annual revenue - only 12% reported this, compared to the overall SME average of 27%. Slightly fewer start-ups experienced revenue gains in this time, with 30% compared to 32% overall. 34% of start-ups experienced steady revenue, compared to 38% overall.

Full details of the survey findings are attached, and the MYOB Start-ups Special Report 2013 is available for download at myob.co.nz/businessmonitor.
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