I have real passion for helping SMEs and accountants to optimise the many business tools at their disposal to become better informed and more productive.
The latest MYOB Business Monitor survey shows us that the top pressures for SMEs come from managing their margins, market competition and high fuel prices.
With online developments, including social channels, international retailers and other businesses are putting increased pressure on New Zealand businesses. We can no longer use our isolation as competitive advantage to maintain market share.
How well prepared do you think Kiwi business leaders are to face these challenges?
As we haven’t experienced recession recovery like this in over 50 years, there’s no precedent for how to thrive within it. In fact, recent deep dive into our SME research by the New Zealand Institute of Economic Research suggests we’re only about half way through it.
Those leaders who are going to be successful are business builders. They’re investing in new technologies and their staff to find new efficiencies. They realise that following the traditional recession playbook of cutting costs and hoping to wait out the downturn will not allow them to reach their potential.
What more could we do as country to thrive in the current global economic climate?
From technology standpoint, it’s about embracing the efficiencies that cloud technology offers, as well as building an online presence – for the smallest operations right through to the largest enterprises in New Zealand.
We’re operating in global business environment. Whilst that presents risks for New Zealand businesses that don’t adapt quickly enough, it offers unlimited potential for those that embrace it. New markets and clients are available every day.
My strongest advice is to get online and be found. One of the greatest initiatives I’ve been involved with at MYOB is getonline.co.nz, where in only eight months we have helped almost 10,000 New Zealand businesses create website. It’s great to see how this has empowered all sorts of business operators and opened the door for them to operate in global market. M
