Bay of Plenty Business News March/April 2017

16 BAY OF PLENTY BUSINESS NEWS March/April 2017
NZ small business underpin
“rockstar” economy
New Zealand’s strong economic credentials
have been given a ringing endorsement
in the latest survey of small businesses
across Asia Pacific, with growth
expectations at a record high.
The Asia Pacific Small
Business Survey 2016,
commissioned by global
accounting body CPA
Australia, showed New
Zealand small businesses are
growing strongly, adding new
jobs and expect even better
performance this year, this
country’s strongest showing
in the six years it has been
included in the survey.
Growth expectations for
2017 are the headline figure
– 71 percent expect to grow
their business in 2017, a figure
that significantly betters
the other developed markets
surveyed – Hong Kong,
Singapore and Australia.
One in five businesses
reported hiring new employees
during the year – double
the figure recorded in
Australia – and New Zealand
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was the only country in the
survey where expectations for
employment (as recorded in
2015) matched what actually
occurred in 2016. In all
other countries, expectations
exceeded the reality.
Highlights from the 2016
survey include:
• Nearly 60 percent of
respondents reported
growing their business last
year
Small business growth
is critical to a nation’s
economic health and
this report suggests
New Zealand is in a
very good place at the
moment.
• More than 70 percent of
respondents expect to grow
their business in 2017
• Nearly 20 percent of
respondents increased
employee numbers last year
• One in four businesses
expect to hire additional
staff this year
The results show New
Zealand outstripped both Asia
Pacific economic powerhouses
Australia and Singapore but
remain below the developing
economies of Indonesia and
Vietnam.
Commenting on the results,
CPA Australia chief executive
Alex Malley says the results
justify New Zealand’s
reputation for its “rock-star
economy”.
“New Zealand recorded
the largest percentage increase
in the number of businesses
expecting the domestic economy
to grow this year, demonstrating
strong confidence at
a business grassroots level,”
he said.
“Small business growth is
critical to a nation’s economic
health and this report suggests
New Zealand is in a very good
place at the moment.”
“For me, the growth and
employment expectations are
particularly noteworthy.”
“Contrast New Zealand’s
performance with Australia,
particularly around actual and
intended employment, and it
makes sobering reading on this
side of the Ditch,” Alex comments.
There are a few line items
of concern, particularly around
the slow uptake of social media
and online selling compared
with New Zealand’s Asian
competitors.
Across the region, the
survey found that small businesses
that are growing are
significantly more likely to
be focusing on innovation,
e-commerce, social media,
training and exporting.
New Zealand topped the
rankings of small businesses
reporting that they found it
easy to access external finance
over the past 12 months.
However, looking ahead, there
was a drop in the number of
small businesses reporting
they expected it to be easy to
access finance.
“With great uncertainty
around global market conditions,
that might be one for
business leaders to keep an
eye on in 2017 and beyond,”
Alex said.
The CPA Australia Asia-
Pacific Small Business Survey
provides annual insights into
the views of small businesses
across eight markets in the
region. This is the seventh
year the research has been
conducted.
Exciting news from summer
entrepreneurial programme
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For more information contact the team today
at info@bopbusinessnews.co.nz
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Bay of plenty
Top students from
Toi Ohomai Institute
of Technology and
University of Waikato spent
the summer in Priority One’s
Ignition co-working space taking
part in an innovative entrepreneurship
programme.
At the completion
of the programme,
the students pitched
their ideas to project
sponsors and local
businesspeople.
Project Ignite invited
students from across a range
of faculties to apply for
scholarships to complete the
programme over a 10-week
period.
Participants were provided
with a unique, tailored experience
and the tools they needed
to validate their ideas and create
a sustainable business.
Local entrepreneur and
CEO of Eurofins Bay of Plenty,
Tina Jennen, was the expert
coach on the programme, providing
advice and support to
the student entrepreneurs.
“The programme included
group and individual activities,
guidance by start-up coaches,
inspirational speakers, practical
sessions, access to specialist
mentors and help with
applications for seed-funding.”
At the completion of the
programme, the students
pitched their ideas to project
sponsors and local businesspeople.
The businesses they
developed included:
• EDM Productions – leaving
a legacy through documentaries
of the personal stories
of elderly or ill people
• My Good Neighbour – an
online platform that connects
locals that need an
odd job done with people
looking for casual work
• Homebuilding.co.nz – discover
your dream home
with thousands of housing
plans, all in one place
• Fashenz – an online platform
that helps NZ’s
emerging fashion designers
• The Capture Collective – a
full service one-stop-shop
to access professional photography
• In Touch – a real time
scheduling app for small
contracting businessses to
help them stay better organised
• The Plunge – new technology
which enables a water
gun to fill in under two
seconds.
Project Ignite is jointly
funded by Priority One
and members Ballance
Agri-Nutrients, Plus Group
Horticulture, University of
Waikato and Toi Ohomai
Institute of Technology.
We’re
introducing
a new
partner
We’re proud to announce the promotion of
David Fraundorfer to our partnership team.
David’s commitment to our Bay of Plenty clients is matched
only by his international experience. He is qualified both in
England and New Zealand.
David grew up in Tauranga and has been with Holland Beckett
since his return to New Zealand in 2014. David specialises in
commercial litigation and is also an expert in sports law.
David Fraundorfer - Partner DDI 07 927 2750 david.fraundorfer@hobec.co.nz
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