New Zealand´s Tech Companies among the top exporters – an opportunity for Investors
Tech is New Zealand´s third-largest export sector. The country´s 200 top tech businesses (“TIN200”) overall turnover increased by 11% to NZ $11.1 billion with NZ $7.9 billion achieved in export revenue last year. Experts believe Tech might overtake dairy and tourism within the next three to five years.
Within the TIN200, ICT companies accounted for almost 50% of the revenue growth and, for the first time, more ICT companies than high-tech manufacturing businesses feature on the list.
One growth factor is that successful entrepreneurs reinvest into tech startups and add their experience. (National Business Review, 26.10.18)
New Zealand ranks third in the Heritage Foundation´s Index of Economic Freedom
According to the Canada – based Fraser Instritute´s Economic Freedom of the World Index, the key criteria for economic freedom are personal security, choice, privately owned property, freedom to enter markets and compete and voluntary exchange. 42 data points are used to incorporate a summary index and to measure the degree of economic freedom in five areas: freedom to trade internationally, regulation, sound money, size of government, legal system and property rights.
Nevil Gibson, in the National Business Review, calls New Zealand´s ranking a “significant achievement”. Only Hong Kong and Singapore have higher scores. (National Business Review, 19.10.18)
The New Zealand Business Report reports:
Entrepreneurs poised for growth
Entrepreneurs in Auckland are forecasting significant business growth across a number of factors.
The latest Global Entrepreneur Indicator report from the Entrepreneurs’ Organisation (EO) reveals a majority of surveyed entrepreneurs are expecting spikes in their employee numbers, revenue, profit and access to capital in the next six months. Auckland’s results are ahead of average global forecasts in every category.
EO Auckland communications chairman Richard Conway says: "New Zealand is the perfect place to nurture business growth. It’s a great place to test out businesses before taking them global. We certainly haven’t been hit as hard as other countries after the global financial crisis – our interest rate has stayed relatively strong."
He says the advent of software as a service and the success of Kiwi businesses, such as Xero and Vend, has given this country’s entrepreneurs a confidence boost.
“New Zealand is an interesting country because we’ve got quite a few entrepreneurs who are now making it on a global scale. There is quite a positive sentiment across the members here,” Mr Conway says.
The Global Entrepreneur Indicator survey also reflected results from the past six months, which showed the number of fulltime and part-time employees had risen in 65% of businesses.
Revenue has also increased for more than three-quarters of the businesses surveyed, and profit has risen for nearly 70%.
Of the Auckland entrepreneurs involved, 90% said they would be willing to start a business in New Zealand’s current economic environment.
“Coming out of the global financial crisis, a lot of businesses are leaner and stronger. The weaker businesses didn’t survive but the ones that were well set up are actually doing better,” Mr Conway says. (29.9.2015)
The New Zealand Business Report reports:
Building work climbs in June quarter, swelled by non-residential activity.
New Zealand construction activity expanded for a second quarter, swelled by non-residential work as the focus of the Canterbury rebuild shifts to commercial buildings.
The volume of building work across all buildings rose a seasonally adjusted 1.6% in the three months ended June 30, from a 1.8% pace of expansion in the March quarter, according to Statistics NZ. Of that, non-residential work grew 5.2%, accounting for about 44% of activity in the period, while residential work shrank 1%.
Building activity is forecast to remain robust over the next six years, with $209.4 billion of work projected over that period, peaking in 2016 at $36.5 billion of work. The bulk of that is associated with house building in Auckland, where builders are under pressure to erect properties to meet unsatisfied demand in the country's biggest city.
Residential building work rose 7.3% to $2.5 billion in the quarter from June 2014, with new dwellings were up 9.3% to $2.03 billion, while non-residential work expanded 8.8% to $1.56 billion. (3.9.2015)
The ANZ Business Outlook
The ANZ Business Outlook is a key leading barometer for the economy, relying on the input of 1,500 New Zealand businesses nationwide.
Ask our Business and Investor Migration Expert
If you want to find out more about establishing your own business in New Zealand, contact Dr. Carsten Hallwass, the Business and Investor Migration Adviser at NZIC.Ask Dr.Carsten Hallwass for a Free Assessment