Predictions six months ago of big things for the New Zealand economy have been borne out by business results according to an international survey of entrepreneurs.

The Global Entrepreneur Indicator published this month for the six month period to 31 March shows more Kiwi entrepreneurial businesses have increased both their profits and revenues than the global average. 

The survey also shows our entrepreneurs are more positive about our country’s economic environment with 95 per cent predicting improvement in the next six months compared with only 48 per cent globally.

The indicator is generated from a survey of every chapter of the world-wide Entrepreneurs’ Organization (EO) including its New Zealand chapter. 

Tony Falkenstein, the communications chair of the NZ Entrepreneurs’ Organization, says the survey results confirm predictions six months ago of a marked improvement in New Zealand’s trading conditions.

“Compared to entrepreneurs worldwide, more of our businesses are profitable, more have increased part time staff, more have grown their revenues and more have increased their access to capital,” Falkenstein says.

“That confirms the confidence predicted by New Zealand entrepreneurs in our previous survey six months ago. Even better, that confidence is continuing with local businesses predicting more good things to come in 2014.”

The survey shows Kiwi entrepreneurs expect to grow both full time and part time staff numbers and continue to improve their profits above average.

Falkenstein says debt loads are expected to decrease although growth in that area during the past six months indicates an inclination to borrow for working capital “which is a good thing”.

“Forty-three per cent of our businesses have also increased their access to capital in the past six months and New Zealand entrepreneurs also expect that demand for funds to continue this year.”

He says 97 per cent expect revenue growth in the next period compared to only 83 per cent of global entrepreneurs. Mirroring results from the previous six months survey, more than 90 per cent of New Zealand entrepreneurs have “a proclivity” to start a new business in the current year.

“The Global Entrepreneur Indicator reflects the positive attitude of New Zealand entrepreneurs and this reinforces the results from last year’s survey. It’s all good news because it is entrepreneurs – more than any other business sector – who create growth in the NZ economy.”