New Zealand’s mid-market businesses are experiencing a surge in economic confidence, reaching a three-year high, according to a recent poll conducted by business management platform MYOB.
The survey, which involved over 500 mid-market leaders (businesses with between 20-500 FTEs and $5m+ annual revenue), revealed that 79 percent expect the economy to improve over the next 12 months, marking the highest level of optimism recorded in the last three years.
“Earlier this year, we saw the mid-market under pressure, with fuel prices, utility costs and cashflow levels all constraining business performance. While these cost pressures certainly haven’t gone away, it’s clear that sentiment has turned a corner,” says Kim Clarke, MYOB Executive General Manager – Enterprise & Practice.
“Business leaders are ready to build on the gradual improvements we’re seeing across the economy, backed by some healthy sales pipelines.”
The survey indicated that 63 percent of respondents reported an increase in business revenue compared to the previous year, closely mirroring last year’s expectations where 62 percent predicted …