Menu
More NZ SMBs now in the half million club

More NZ SMBs now in the half million club

One in four (28%) New Zealand small businesses are now turning over more than half a million dollars annually, up almost 14% on 2011.

One in four (28%) New Zealand small businesses are now turning over more than half a million dollars annually, up almost 14% on 2011, according to insights from accounting software company Xero.

Benefits from an increased understanding of technology and a renewed confidence in the economy are driving the growth as small businesses unlock efficiencies in their processes and production output.

According to the Ministry of Business, Innovation and Employment’s 2014 Small Business Sector Report, there are around 460,000 small businesses operating in New Zealand which are contributing around $56 billion annually to the economy – nearly 30% of the country’s Gross Domestic Product (GDP).

Xero’s analysis also shows there are around 150,000 Kiwi small businesses that are not captured in official reports as they do not meet current minimum criteria of a $30,000 turnover, however, they too make a valuable contribution to the New Zealand economy.

These 150,000 small businesses bring the total number to more than 600,000 – a significantly larger pool – and add up to an additional 10% contribution by small business to the country's GDP.

In addition to more businesses now in the half-million club, Xero analysis shows success among other small business.

With more than half of all Kiwi small businesses generating an annual turnover of more than $180,000 and with more than 600,000 small businesses in New Zealand there is little doubt that small business really is big business.

Victoria Crone, Xero NZ Managing Director says the contribution of small business to our economy cannot be understated.

“The fact that we are seeing this growth in the sector is a strong indicator of the drive our small businesses leaders have to advance and excel, and that’s good news for the country’s economy going forward,” she says.

“Part of Xero’s commitment in supporting these smaller organisations is to help them to grow and continue to be prosperous.

Subscribe here for up-to-date channel news

Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags xero

Featured

Slideshows

StorageCraft celebrates high achievers at its inaugural A/NZ Partner Awards

StorageCraft celebrates high achievers at its inaugural A/NZ Partner Awards

Revealed at a glitzy bash in Sydney at the Ivy Penthouse, the first StorageCraft Partner Awards locally saw the vendor honour its top-performing partners with ASI Solutions, SMBiT Pro, Webroot, ACA Pacific and Soft Solutions New Zealand taking home the top awards. Photos by Maria Stefina.

StorageCraft celebrates high achievers at its inaugural A/NZ Partner Awards
Kiwi resellers make a splash on Synnex and Lenovo RotoVegas road trip

Kiwi resellers make a splash on Synnex and Lenovo RotoVegas road trip

​Synnex and Lenovo hosted 18 resellers for an action-packed weekend adventure in RotoVegas, taking in white water rafting on the Kaituna River, as well as quad biking and dinner at Stratosfare​, overlooking Lake Rotorua at the top of Mount Ngongotaha​. Photos by Synnex.

Kiwi resellers make a splash on Synnex and Lenovo RotoVegas road trip
Show Comments