Election Uncertainty Weighs on New Zealand Small Businesses

A fresh MYOB survey of small and medium-sized enterprises (SMEs) in New Zealand reveals that uncertainty about the November general election is weighing on business confidence. The poll, conducted by Dynata between August 17th and September 8th, found that 41% of owners and decision-makers believe the election is having a negative effect.

Only 16% of respondents said the election was lifting their confidence, while 35% said it had no impact. Views on the wider economy were also mixed: 38% expect conditions to worsen over the next 12 months, 33% expect an improvement, and 25% expect little change.

Many businesses are taking a cautious approach, with about a third reviewing budgets and cashflow more closely or reducing spending. MYOB chief executive Paul Robson expects more businesses to move from holding steady to investing for growth once the election result is known.