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.

Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags xero

Slideshows

Top 50 defining moments of the New Zealand channel in 2016

Top 50 defining moments of the New Zealand channel in 2016

Reseller News looks back on a tumultuous 12 months for the New Zealand channel, assessing the fallout from a year of sizeable industry change. Whether it be local or global mergers and acquisitions, distribution deals or job changes, the channel that started the year differs somewhat to the one set to finish it - Reseller News assesses the key moments that made 2016.​

Top 50 defining moments of the New Zealand channel in 2016
​Hewlett Packard Enterprise honours high achieving NZ channel

​Hewlett Packard Enterprise honours high achieving NZ channel

Hewlett Packard Enterprise honoured its top performing Kiwi partners at the second running of its HPE Partner Awards in New Zealand, held at a glitzy ceremony in Auckland. Recognising excellence across eight categories - from distributors to resellers - the tech giant celebrated its first year as a standalone company, following its official split from HP in 2015.

​Hewlett Packard Enterprise honours high achieving NZ channel
Nutanix treats channel partners to Christmas cruise

Nutanix treats channel partners to Christmas cruise

Nutanix recently took to the seas for a Christmas Cruise around Sydney Harbour with its Australia and New Zealand staff, customers and partners to celebrate a stellar year for the vendor. With the sun out, they were all smiles and mingled over drinks and food.

Nutanix treats channel partners to Christmas cruise
Show Comments