Ask and you shall receive

In this issue’s ‘Snippets’ section, there are some interesting figures from Stats NZ around the make-up of New Zealand’s business community. Two of the standout facts for me are that, in the 2018 financial year, small businesses (one to 19 employees) accounted for one-third of all businesses; and businesses with no employees, including the self-employed, accounted for 63.7 percent of businesses and 13.6 percent of sales.

In 2018, again quoting Stats NZ, there were more than 160,000 small businesses in this country. We are a nation of small businesses – and one of the world’s most highly competitive marketplaces – due, in part, to our relatively
small population. 

But on a recent trip to Thailand I was reminded that Southeast Asian countries are just as enthusiastic about small business ownership as we are – if not more so. 

And Thailand, in particular, is looking to boost its numbers even further. According to a report by RFi Group, the Thai government planned to increase the number of SMEs by 300,000 to a targeted three million-plus by the end of 2018. I don’t know if it succeeded, but in my journeys across Phuket by open-sided public bus, I saw many of them – rows of small traders competing for customers, and many clearly not succeeding very well.

Business ownership is a hard graft no matter what country you look at, or
travel through.

To succeed – to stand head and shoulders above the competition – requires sound financial backing, a ton of hard work, rock-solid business and marketing plans, a customer-first attitude and an excellent product or service.

It’s also imperative that you have a willingness to seek advice from someone more experienced in business than you. Don’t go it alone. Start with a highly recommended mentor from Business Mentors New Zealand. 

There is help available if you’ll just look for it, and ask!

Before I sign off, here’s one final reminder to enter The David Awards – the business awards dedicated to New Zealand’s small business battlers. Entries close August 16th. Go to www.thedavidawards.co.nz or you’ll miss your chance to
really shine.