A survey of owners of small and medium businesses found nearly a third reporting a rise in revenue during the past 12 months.Company MYOB said its latest Business Monitor nationwide survey of more than 1000 business owners showed New Zealand was not in da
A survey of owners of small and medium businesses found nearly a third reporting a rise in revenue during the past 12 months.
Company MYOB said its latest Business Monitor nationwide survey of more than 1000 business owners showed New Zealand was not in danger of a double-dip recession, despite signs of a slow and shaky recovery.
More than a third of businesses reported more work or sales in the pipeline for the next three months, MYOB said.
The latest survey, carried out by Colmar Brunton, had shown the first major resurgence in business revenue since the global financial crisis, with 31 percent of businesses reporting revenue increases compared to 26 percent seeing a fall in revenue during the past 12 months.
The figures were a reversal of the Monitor results in April, when 35 percent of businesses reported a revenue fall while 26 percent had a revenue rise.
MYOB general manager Julian Smith said the underlying performance highlighted in the Monitor pointed to a sound financial basis for the economy.
"Based on what businesses are telling us about the last 12 months of activity, and the amount of work they have in their sales pipeline, it's unlikely we'll see a return to recession," Mr Smith said.
According to the Monitor, 43 percent of all business owners expect their revenue to increase in the next 12 months, while only 10 percent expect a fall in revenue.
Larger businesses were showing more pipeline work and higher expectations of increased revenue than micro businesses -- those with fewer than five staff -- and sole traders.
Of the medium sized businesses -- 20 to 199 staff -- surveyed in the MYOB Monitor, 49 percent said they had more work or sales in the pipeline, with 43 percent of small businesses -- five to 19 staff -- saying they had more work than usual in the next three months.
Revenue increases are expected by 71 percent of medium sized business owners in the next 12 months.
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