NZ small businesses bracing for global fuel shock

A new survey reveals most SME operators are already taking action as Middle East tensions push fuel costs higher.

New Zealand’s small and medium-sized businesses are watching global fuel markets with growing unease, with new research from MYOB showing the vast majority of SME operators are concerned about the flow-on effects of Middle East conflict, and many are already moving to protect their bottom line.

A pulse survey of more than 230 SME decision-makers, conducted by MYOB between 20–26 March, found that 55 percent of respondents were “very” or “extremely concerned” about the impact of the conflict on fuel pricing and supply. A further 27 percent described themselves as “moderately concerned,” leaving just three percent reporting no concern at all.

The findings underscore just how central fuel is to the day-to-day running of New Zealand businesses. For six in ten respondents, fuel, either directly or through transport and logistics, is “critical” or “very important” to their ability to operate.

The cost pressures are hitting SMEs across multiple fronts. Just over half (52 percent) of those surveyed said supplier price increases were the biggest fuel-related burden on their business, followed by fleet costs (47 percent), courier and freight expenses (41 percent), and supply chain disruption (30 percent).

MYOB Chief Customer Officer Dean Chadwick says the speed at which overseas events translate into local business conditions is a recurring reality for New Zealand operators.

“The conflict escalation in the Middle East is a blunt reminder of how quickly global events can flow through to local business conditions, particularly when it comes to a commodity like fuel,” he says.

“For many SMEs, fuel isn’t optional, it underpins everything from getting goods to market, transporting their own supplies, travelling to connect with customers and keeping day-to-day operations running.”

Chadwick notes that the timing is particularly unwelcome. Many SMEs entered 2026 with cautious optimism following a gradual lift in revenue and business sentiment, only to find themselves navigating another external shock.

The survey also explored what actions SME operators would take if disruption intensified significantly over the coming month. Raising prices to customers came out on top (37 percent), followed by cutting spending in other areas (35 percent), encouraging working from home or reducing days on site (16 percent), and changing transport or logistics arrangements (16 percent). Some businesses are also considering increasing stock levels or reducing operating hours.

Chadwick says that while the drivers of this disruption are beyond any business owner’s control, practical steps can still make a meaningful difference.

“From regularly reviewing costs and maintaining visibility over cashflow, to having open conversations with suppliers and partners about pricing where needed, there are still things SMEs can do to stay on the front foot.

“New Zealand’s small and mid-sized businesses are resilient, but they don’t operate in isolation. Ongoing local customer support will play an important role in helping many businesses manage through the pressures and uncertainty they’re feeling once again.”

The MYOB pulse survey was conducted by Dynata and comprised 237 SME owners and decision-makers. The margin of error is approximately +/-6 percent at a 95 percent confidence rate.