October 22, 2014
Maori businesses share benefits of growth
Maori-operated small businesses did slightly better than their peers over the past year, but operators are expecting tougher times ahead.
For the annual MYOB Business Monitor, Colmar Brunton surveyed over 1000 small and medium business owners and operators, about 5 percent of them Maori.
It found 43 percent of Maori SMEs reported improved growth in the year to August 2014, compared with an average of 39 percent.
Just 27 percent of Maori operators believe economic conditions will improve in the next 12 months, compared to an average of 35 percent, and less than a third forecast increased revenue in their own businesses.
MYOB New Zealand business sales manager, Scott Gardiner, says Maori businesses had a strong second half, with only 30 percent reporting year on year revenue increase back in March.
He says that’s a sign growth is becoming more evenly distributed across the economy.
Maori business owners intend to take on staff at twice the rate of the SME average, and 26 percent plan to pay their staff more in 2015, compared to just 20 percent of all SMEs.
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