Third of Kiwi businesses are growing – survey

THURSDAY 23 APR 2015 6:30 A.M.

three sisters New Zealand
three sisters New Zealand

It’s what is often called the ‘three B’s mentality’ – the boat, bach and the beemer.

Westpac’s Grow New Zealand report has found more companies with an annual turnover of between $250,000 and $5 million are doing better than four years ago.

The report says that 30 percent of businesses are growing, up from 12 percent. Many are up-skilling their staff but fewer are looking to invest to develop new products, increase sales or hire staff.

It also found that 31 percent of business owners say the biggest block to growth is their desire to maintain a work-life balance or because they plan to retire. It’s what is often called the ‘three B’s mentality’ – the boat, bach and the beemer.

The report says New Zealand needs its business owners to be bold and invest to grow.

The Productivity Commission says it’s a real contrast to the US where for many bosses, the idea of taking time off is almost unheard of, but could be seen as a positive sign that New Zealand companies have come out of the financial crisis better than most.

Paul Henry

Read more: http://www.3news.co.nz/tvshows/paulhenry/talk-money/third-of-kiwi-businesses-are-growing---survey#ixzz3YGbL0zYO

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