We’ve been doing some research around unlocking productivity in the small business market. The outgoing Minister for Small Business Clayton Cosgrove nailed the importance of this sector with this quote recently …
“the high number of SMEs makes them important to the economy, but it is their potential for growth that makes them vital to the government’s economic transformation agenda.”
Small Business contributes $50b to New Zealand’s GDP! We believe online technology is the key to improving productivity in the sector. The numbers are simply staggering. Minor productivity improvements can grow GDP by $500m or more.
You can download our report here …
Our recommendations to the Government are:
- Educating SMEs on the benefits of being online in all agency communications.
- Promote www.business.govt.nz as the business to government website.
- Allow high quality New Zealand solution providers to be certified and profiled on www.business.govt.nz
- Encourage the Small Business Advisory Group to play a larger role in the design of the www.business.govt.nz portal so it meets the needs of small businesses on an ongoing basis.
- Look to expose key government information as web services so that application providers can integrate government activities into the workflow of their solutions. Individual government departments do not need sophisticated transaction websites. This work is incremental and can start immediately. (For example filing of GST returns as a web service.)
- Establish a single business identification number for all trading entities to facilitate commerce between New Zealand small businesses.
- Work with the private sector to take a global leadership position in Standard Business Reporting.
- Accelerate the Standard Business Reporting project, starting with an opt-in voluntary service.
Please note: this document and the recommendations contained within represent the independent view of Xero Limited.
Report last updated 24 November.