SME Survey Shows Improving Outlook For Business

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SME Survey Shows Improving Outlook For Business

AUCKLAND, 10 September 2009 – Further evidence that New Zealand may have hit the bottom of the recession trough comes with the latest survey of small and medium size businesses by the country’s largest credit bureau, Veda Advantage.

The survey found 95 percent of businesses believe their number of employees will remain the same or increase over the next six months. Within the productive sector a significant 37 percent expect to employ more people between now and the end of January. In the survey this group includes agriculture, forestry and fishing, manufacturing, mining, construction and transport.

On top of this, 83 percent of businesses are showing little or no concern about the impact the economy will have on their operations over the next 12 months.
Veda Advantage Managing Director John Roberts says: “ Businesses have weathered the recession storm with these results showing resilience and optimism.”

But he warns the tough times aren’t yet over. Small and medium size businesses are still experiencing slow debtors with 47 percent of service industries reporting debtors being slow to pay – on average 23 days slower than a year ago.

Mr Roberts says: “Owners and operators must continue to be vigilant about debtors to ensure they protect their businesses and don’t fall victim to a company or individual in financial trouble.”

The survey of 300 business owners and managers was conducted over a two week period in August 2009. The survey is run every six months.

ENDS

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