Results of the ANZ Business Micro Scope survey of small firms:
- Retailing, agriculture and manufacturing leading a lift in optimism
- Firms’ expectations of their own activity, hiring and profitability for the coming year have reached new highs
ANZ managing director of retail and business banking Fred Ohlsson:
construction and agriculture were caught in the tailwind of the Canterbury rebuild and increasing commodity prices. However, optimism was at, or near, historic highs across all major sectors, according to the survey of 250 micro and intermediate firms in New Zealand.
- Small business optimism survey confidence is at its highest since comparable data was first collected in 1999
- A net 45 per cent of small Kiwi firms expected to lift business activity during 2014 (double the long-term average)
- A net 17 per cent planned to take on more staff
- 29 per cent expected profits to rise
- The services sector was the most upbeat with confidence at 25 per cent
- Retailing recorded the largest lift in confidence, from 14 per cent to 22 per cent, followed by agriculture and manufacturing
- Agriculture was the top sector for profit expectations for the first time in two years.
Small business confidence soars
H/t to Tom, thank-you
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