On the Up: As greenshoots sprout, what more can Government do for business?

Small and medium-sized enterprises (SMEs) are showing increased confidence, with 46% expecting economic improvement in the next year. Revenue improvements were reported by 28% of SMEs, with strong performances in agribusiness, transport, and manufacturing. Key SME policy desires include reduced compliance, a lower company tax rate, and increased investment in skills and training.

Beneath the global market turmoil of the past few weeks, green shoots have been quietly growing in the engine room of the New Zealand economy – its small and medium business sector. A new MYOB Business Monitor Confidence shows that small and medium-sized enterprises (SMEs) have entered into positive territory for the first time in five years, backed by revenue improvements across a range of industries. The proportion of SMEs expecting the economy to improve over the next 12 months is now at its highest level since 2016.



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