Entrepreneurs predict growth in 2014

Kiwi businesses are predicting big things for the New Zealand economy next year going by their responses to an international survey of entrepreneurs.

The Global Entrepreneur Indicator published in October 2013 for the six month period to 30 September forecasts increases in profitability, full time employment growth and the opportunity to increase working capital. 

The indicator is generated from a survey of every chapter of the world-wide Entrepreneurs’ Organization (EO) and New Zealand businesspeople are among the most positive according to the results.

Tony Falkenstein, the communications chair of the NZ Entrepreneurs’ Organization says local entrepreneurs show a healthy positive attitude compared to other nations. 

“The most dramatic difference between New Zealand and the rest of the world is our members’ outlook on the country’s economy,” Falkenstein says. “Seven out of 10 New Zealand members feel our economic environment will improve during the next six months. Only 43 percent of the rest of the world think the same.”

The survey shows virtually in every area New Zealand members have had a positive past six months and believe the good times will continue. 

“For example, 74 percent of New Zealand members increased profitability during the survey period, and a similar percentage believe they will do the same during the next six months.”

The survey shows NZ EO members are finding access to capital easier and about a third will be increasing their debt during the next six months. More than 90 percent of them are inclined to start a new business in the current year.

There’s good news also for New Zealand workers with three quarters of local entrepreneurs saying they plan on increasing full time employees versus 63 percent globally.  “The Global Entrepreneur Indicator reflects the positive attitude of New Zealand entrepreneurs, and this is an excellent sign for New Zealand. History has shown it is entrepreneurs – more than any other business sector – who create growth in the economy.”