Single Business Number coming to NZ
Economic Development Minister Steven Joyce and Internal Affairs Minister Chris Tremain have today announced a single customer number for New Zealand businesses.
Xero congratulates the Government for their progress on the initiative, which will accelerate commerce between large and small businesses.
A single business number is key to establishing a business’s identity electronically. It will facilitate the electronic sending of trading documents between businesses. It will increase trust, improve cash flow and reduce compliance costs. We believe this will be an accelerator for cloud computing.
The idea for a single business number was raised 3 years ago as the Government consulted with the business software industry. This was one of the big ideas where we needed Government help.
We’re leading the world in Cloud Computing. The industry has been proactive with the Cloud Computing Code of Practice, we are developing world class global solutions and Government is working well with industry.
The next big decision is whether all businesses receive the identifier. Currently the Companies Register does not include partnerships and sole traders – which are a big number of New Zealand trading entities.
You can be sure that Xero is ready to begin implementing the Single Business Number and we’ll work hard to reduce the effort required for small businesses to implement this new number.
Read more about Business