Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Steady cashflow vital for survival of small businesses

With small businesses making up 97% of all enterprises in New Zealand, making sure they get paid on time is essential to the well-being of our economy.
Cash flow is central to the success of any business, and it can also be a challenging headache, especially if you’re a small business owner. In Canstar Blue’s inaugural survey of small business customers, 14% told us that they struggle to get paid on time. If they’re not paid on time, that creates difficulties in paying staff, themselves and buying more stock.

The survey also reveals that half (50%) think the government could do more to support small business owners. However, they’re much more optimistic about the impact of technology, with more than one-third (35%) saying tech is offering them opportunities/customers that didn’t exist before.

Central to getting paid on time are merchant services. Canstar Blue is delighted to announce that BNZ has won its first NZ Small Business Merchant Services Award.

Canstar Blue General Manager Jose George says: “This is a great achievement for BNZ, the only bank which was rated 5-stars for overall satisfaction. It was also the only bank to score 5-stars in five out of our six drivers of satisfaction.

“As we know, small businesses operate on very tight margins, so it’s not surprising that fees and charges for merchant services are of great concern for them. Here, BNZ scored 4-stars in our survey - the only bank to do so.”

Accepting the award, Karna Luke, BNZ’s General Manager SME & Enterprise Partnerships, says: “Success for us is viewed through the actions of our customers. This award shows we’re on the right track and I want to thank all customers who took the time to nominate us.”

Customer satisfaction ratings

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Consumer NZ Testing: Nine Sunscreen Brands Fail Protection Tests

Nine different brands fell short in the latest round of testing by Consumer NZ, which covered 20 products. More>>

ALSO:

Media: NZME 'In Discussions' To Buy Stuff

NZME confirms that it is in discussions with Stuff’s owners Nine and has put a proposal to the Government regarding a possible transaction. However, NZME notes that these discussions are preliminary... More>>

Consultation: Plan Of Action To Protect Seabirds

The draft National Plan of Action plan outlines the Government’s commitment to reducing fishing-related captures of seabirds, with clear goals and objectives, supported by an implementation plan. More>>

ALSO:

Housing Issues: Fairer Rules For Tenants And Landlords

The key changes include: - Limit rent increases to once every 12 months and banning the solicitation of rental bids by landlords. - Improve tenant’s security by removing a landlord’s right to use no cause terminations to end a periodic tenancy agreement... More>>

ALSO: