The bigger picture
Mid-sized businesses could boost New Zealand’s economy if limiting constraints are addressed, says a new report.
Rising costs, industry competition, and business or industry regulation are the top factors that businesses believe are impacting their ability to maximise potential.
According to the newly released Bigger Picture Report from accounting software firm MYOB, increased staff training is the top action business leaders polled believe (37%) would have a positive impact on their productivity.
This was followed by more automation (36%), increased capital investment (35%), implementing new (or updating) business software (33%), reduced compliance requirements (33%) and a greater availability of specialised skills (32%).
Sixty percent of mid-sized businesses have seen their revenue increase compared with this time last year and they report having more sales or work lined up for the next six months than usual.
Medium business with 20-500 full-time equivalent employees and $5m+ annual revenue in New Zealand, were surveyed from 6 to 30 January 2025, by independent research agency Dynata.
MYOB’s Executive General Manager of Enterprise, Kim Clarke, says most businesses reported revenue growth, and many are enjoying export success with markets like Australia, China, Japan, South Korea, Canada and the United States. Improving international trade relations through new free trade agreements or other trade deals (71%) top many wish lists. Other potentially positive moves identified include:
- Addressing interest rates and inflation (69%)
- Government-led programmes to support business’ digital upskilling and cyber-resilience (68%)
- Adjusting competition settings (65%)
- Reducing the company tax rate to 25% (65%)
- Government-backed loans/subsidies to help businesses finance
- Growth, innovation and digitisation (65%).
