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Kiwis not feeling the GFC fear

GATHERING gloom in the international economy has failed to dent Kiwi business owners' confidence, as they prepare to add to their bottom line in the coming year.

One third of 1000 Kiwi businesses surveyed by MYOB said they had more work booked during the last quarter of this year, and 41 per cent are tipping revenue growth for their company during 2012.

Just 14 per cent said they expected to see a slide in earnings.

MYOB general manager Julian Smith said the findings came despite a mixed performance for the economy to date.

"Kiwi business owners are particularly bullish about their own prospects in 2012, but sentiment about the wider economy continues to reflect not only the slow local economy, but also the range of negative economic sentiment emerging globally.

Christchurch businesses in particular were reporting strong sales for the remainder of the year, which were important not only for the city's recovery but the wider economy, Smith said.

More than one third of businesses in Christchurch said they have more work in the pipeline than usual, and about half said they expect to boost their earnings in the coming year.

The agriculture, forestry and fishing industries were the stand-out performers from the survey, with the transport and warehousing sector doing it the toughest.

Smith said the economy appeared to be travelling at two speeds.

"It's clear while a number of sectors and individual businesses are doing it pretty tough at the moment - and have been for some time - there are many areas of the local economy showing quite steady growth, Smith said.

Topics:  businesses financial crisis new zealand


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