MYOB: Recession over for most businesses

MYOB: Recession over for most businesses

Thirty one percent of companies report revenue increase.

Over a third of businesses are reporting more work or sales for the next three months, according to the August MYOB Business Monitor. The Monitor is a nationwide survey of over 1000 local business owners across a range of small and medium businesses. It is conducted by Colmar Brunton and has recorded a resurgence in local business revenue since the global financial crisis, with 31 percent of businesses reporting revenue increases and 26 percent reporting a fall in revenue over the last year.

According to software company MYOB, the figures are a reversal of the April Monitor, when only 26 percent of companies reported a revenue increase compared to 35 percent of businesses posting a revenue decrease.

MYOB general manager Julian Smith says although many businesses have been disappointed with the pace of the recovery, the financial performance data it collects show encouraging signs.

“Based on what businesses are telling us about the last 12 months of activity, and the amount of work they have in their sales pipeline, it’s unlikely we’ll see a return to recession.”

According to the Monitor, 43 percent of all business owners expect their revenue to increase over the next 12 months, while only 10 percent expect a reduction in revenue.

Wellington businesses reported a good quarter with 34 percent showing revenue increases, and 25 percent reporting decreases, compared to 37 percent showing revenue decreases in the April Monitor. Businesses in Auckland reported a 28 percent increase and 26 percent decrease while Christchurch posted a 32 percent increase and 28 percent decrease.

Almost half of the medium sized businesses (20 to 199 staff) surveyed in the MYOB Monitor say they have more work or sales coming up, with 43 percent of small businesses (5 to 19 staff) reporting more work in the next three months. Seventy one percent of medium sized business owners now expect revenue increases in the next 12 months.

However, Smith also says price margins and profitability are a key concern for those surveyed.

"This is particularly significant with the GST increase coming up on 1 October.”

“While we know nearly every business is aware of the GST change, most business owners are only now coming to terms with the scope of the tax changes, and how they affect their business.

To cope with this, we’re encouraging businesses to plan early for the tax changes, take a good look at their systems and get help from their accountant if they need it.”

Follow Us

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.




The making of an MSSP: a blueprint for growth in NZ

The making of an MSSP: a blueprint for growth in NZ

Partners are actively building out security practices and services to match, yet remain challenged by a lack of guidance in the market. This exclusive Reseller News Roundtable - in association with Sophos - assessed the making of an MSSP, outlining the blueprint for growth and how partners can differentiate in New Zealand.

The making of an MSSP: a blueprint for growth in NZ
Reseller News Platinum Club celebrates leading partners in 2018

Reseller News Platinum Club celebrates leading partners in 2018

The leading players of the New Zealand channel came together to celebrate a year of achievement at the inaugural Reseller News Platinum Club lunch in Auckland. Following the Reseller News Innovation Awards, Platinum Club provides a platform to showcase the top performing partners and start-ups of the past 12 months, with more than ​​50 organisations in the spotlight.​​​

Reseller News Platinum Club celebrates leading partners in 2018
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP has honoured its leading partners in New Zealand during 2018, following 12 months of growth through the local channel. Unveiled during the fourth running of the ceremony in Auckland, the awards recognise and celebrate excellence, growth, consistency and engagement of standout Kiwi partners.

Meet the top performing HP partners in NZ
Show Comments