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MYOB Business Monitor
New Zealand: July 2009
 Detailed Chart Deck
  Status: Embargoed 4am, 13 July 2009

 Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
   © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
About MYOB New Zealand


•   MYOB develops and delivers award winning business solutions, service
    & support to over 150,000 NZ businesses & 2,200 accounting practices

•   MYOB business solutions outsell any competitive solutions in NZ by a
    factor of 9 to 1

•   MYOB solutions pay over 25% of New Zealand’s workforce

•   More than 90% of tax returns are now e-filed using an MYOB product
    each year (1.3m+)

•   MYOB has a dedicated NZ 25 person development team supported by an
    additional 200+ R&D specialists in Australia and Malaysia

•   MYOB invests more than NZD$30 million in R&D in NZ and Australia
    every year.




                 Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                   © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
MYOB Business Monitor Method: Online Survey

  Web Interviewing based methodology using Colmar Brunton’s on-line panel

  Respondents for this study are:
      •   Owners or key decision-makers of businesses
      •   Broad cross section of NZ Businesses, from sole traders to mid-sized enterprises (up to 200
          employees)
      •   Businesses with estimated 2008 turnover of at least $40,000
      •   All industry sectors were covered (except for Government)
      •   Nationwide coverage


  Total of 1439 respondents in the sample
      •   Statistically representative data, weighted by business size, industry and location to reflect
          Statistics NZ population figures.




  Fieldwork dates
      Main sample:      May - June, 2009




                       Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                         © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Expectation for Future Work

•   All Business: 69% report the same or greater work pipeline in the next 3
    months
•   Consistent in all industries, sectors & regions
•   SMEs with 10+ FTE: 71% same or greater in next 3 months




            8%          18%                                  45%                             17%           7%   5%




       0%                  20%                     40%                  60%                     80%                100%

             A lot less work                     A little less work                About the same amount of work
             A little more work                  A lot more work                   Don't know




    Q25: “Please indicate how much work you have got on in the next 3 months
    compared to what you would usually expect.”

                          Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                               © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Supporting Business

•   Business tax deductions more favoured by employers
•   Personal tax reduction more favoured by sole traders
•   GST reduction favoured by Retail, Agriculture / Manufacturing & Hospitality & CHC
    business
                                          Personal Tax Reductions                      28%


                               Additional Business Tax Deduc tions                   23%


                                              GST Rate Reduction                     22%


                            Government Infrastructure Investment          4%


                    Increased Researc h and Development Funding           2%

            Business Start Up Tax Breaks Or Funding (not available
                                                                          2%
                          for established businesses)

                                          9-Day Working Fortnight     0%


                                                   Something Else         4%


                         None of them would make any difference                14%


                                                                     0%        20%         40%    60%   80%   100%

    Q20. “In your opinion, which ONE of the following would make the single biggest
    difference to supporting your business in the next 12 months?”

                        Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                          © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Economic Outlook

• Just over half of businesses surveyed expect recovery to be more
  than 12 months away.
                                                     Within the next 3
                                   Don’t' Know, 6%     months, 3%
                                                                   3 - 6 months, 8%
                   In more than 2 years,
                            7%




             18 - 24 months, 18%
                                                                               6 - 12 months, 26%




                                     12 - 18 months, 32%




   Q1. “When do you believe New Zealand’s economy will start to improve from its
   present position?”

                    Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                      © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Change in Business Revenue

• While 35% of businesses report revenue is down, 60% report
  revenues are the same or up on 2008 levels.
                                         Don't know, 4%

                                                                       Revenue up, 22%




               Revenue down, 35%




                                                                    Revenue about the
                                                                       same, 38%




   Q4a. “At the present time, is your business revenue (or gross turnover or sales) up
   or down on a year ago, or about the same?”

                     Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                       © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Change in Business Revenue

     • 86% of businesses with revenue growth have seen gains over 10%,
       almost a third have increased over 30%
          REVENUE DOWN                                                                                       REVENUE UP
100% or More
     80-89%        1%
     70-79%        1%
                   3%                                                                                            7%       100% or More
     60-69%        3%                                  Don't know, 4%
                                                                                                                 4%       60-69%
     50-59%        13%                                                           Revenue up, 22%                 8%       50-59%
                                                                                                                 4%       40-49%
     40-49%        7%                                                                                            6%       30-39%

     30-39%        15%
                                                                                                                23%       20-29%
                              Revenue down, 35%


     20-29%        27%

                                                                                                                34%       10-19%


     10-19%        24%

                                                                              Revenue about the                           0-9%
                                                                                                                14%
       0-9%                                                                      same, 38%
                   5%


               Q4a. “At the present time, is your business revenue (or gross turnover or sales) up
               or down on a year ago, or about the same? “
               Q4b. “Please indicate how much your business revenue (or gross turnover or
               sales) is up or down on a year ago?“

                              Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                                 © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Change in Future Business Revenue


• 76% of businesses expect future revenues to be the same or
  greater (34%) in the coming year
                                 Don't know, 8%




               Revenue down, 16%
                                                                         Revenue up, 34%




                           Revenue about the
                              same, 42%




  Q5. “And how do you expect your business revenue (or gross turnover or sales)
  in 12 months time to compare with your business revenue at the present time?”

                  Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                    © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Tracking of Cashflow

• Concerning - 44% of business report no or inadequate cashflow
  management

                    I refer to my bank
                                                                       33%
                         statement

                I use my computerised
                                                                 25%
                  ac counting system

            I don't track cash flow as
                                                         13%
                 well as I should

            My ac countant monitors it
                                                         13%
                     for me

            I rely on my monthly profit
                                                    8%
                  & loss statement

              My contract bookkeeper
                                               2%
                 monitors it for me


                                Other               7%


                                          0%               20%           40%            60%           80%   100%

   Q6. “How do you track cashflow in your business?”



                       Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                          © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Change in Business Profitability

• 60% of businesses have maintained or improved their profitability
  compared with last year.




           9%                    27%                               33%                        20%            7%    4%




      0%                      20%                   40%                     60%                80%                  100%

        Deteriorated a lot                      Deteriorated a little bit            Profitability has remained the same
        Improved a little bit                   Improved a lot                       Don't know




   Q7. “At the present time, has your business profitability deteriorated or improved
   compared with a year ago, or has it remained about the same?”

                             Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                                © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Change in Future Business Profitability

• Only 16% of businesses expect profits to fall in the coming year,
  78% expect profitability to remain the same or improve




      2%      14%                            37%                                  31%                      10%   5%




      0%                     20%                   40%                     60%                80%                  100%

       Deteriorated a lot                      Deteriorated a little bit            Profitability has remained the same
       Improved a little bit                   Improved a lot                       Don't know




   Q8. “And do you expect your business profitability to have deteriorated or
   improved in 12 months time, or to remain about the same?”

                            Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                               © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Payment Terms

• Almost half of all businesses offer 30 day credit terms


           0 days - No credit provided               17%


                               7 days               15%


                           14/15 days             12%


                     30 days/1 month                                            49%


                              45 days    1%


                              60 days    1%


                   More than 60 days     1%


                           Dont know         4%


                                        0%           20%              40%             60%           80%   100%

   Q9. “What are your normal payment terms?“



                     Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                        © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Length of Time for Payment

• 72% of payments are made within 30 days


            0 Days - No credit provided                   16%


                           1 to 6 days              10%


                          7 to 14 days                    16%


                         15 to 30 days                           30%


                         31 to 45 days                     18%


                         46 to 60 days         5%


                    More than 60 days         2%


                            Don't Know        3%


                                         0%               20%          40%             60%           80%   100%

   Q10. “On average, how long is it currently taking your customers or clients to
   pay you for your goods or services supplied for the work you have done?”

                      Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                         © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Change in Payment Terms

• Less than a quarter of businesses reported an increase in the time
  it is taking to get paid by customers.




       3%      20%                                              68%                                  2% 6%
                                                                                                      1%




      0%               20%                   40%                      60%                80%             100%

               Taking a lot more time        Taking a little more time      Taking about the same time
               Taking a little less time     Taking a lot less time         Don't know




   Q11. “Compared with 6 months ago, is it taking more time to get paid by your
   customers or clients, less time to get paid, or is it taking about the same amount
   of time?”


                      Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                         © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Application for Finance

• The vast majority of NZ businesses are not seeking finance.


                                                                    Yes, 19%




                               No, 81%




   Q22. “Have you applied for finance from a bank or other source in the last 6
   months?”

                   Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                     © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Type of Finance Institution Applied To

• High Street Banks receive the bulk of financing requests


                Loc al high street bank             15%




              International investment
                                           1%
                        bank




            Non-bank finance company          3%




               Capital raising financial
                                           0%
                     instrument




                                 Other     1%



                                         0%           20%             40%              60%           80%   100%

   Q23. “And what sort of financial institution did you apply to for funding?”



                      Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                         © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Finance Application Status

• 74% of finance applications are approved without modification


                 Application approved
                                                    14%
                 without modification



            Application approved with
                                              2%
                   modification



            Application approved for a
                                           1%
                  lesser amount




               Application was denied      1%




              Application is still under
                                           1%
                   c onsideration


                                         0%           20%              40%              60%           80%   100%

   Q24. “Which of the following statements best describes what happened to your
   application for finance?”

                      Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                          © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Expectation for Future Work

• 69% of businesses surveyed report the work they have planned in
  the next quarter is the same or more than usual




           8%          18%                                  45%                             17%           7%   5%




      0%                  20%                     40%                  60%                     80%                100%

            A lot less work                     A little less work                About the same amount of work
            A little more work                  A lot more work                   Don't know




   Q25. “Please indicate how much work you have got on in the next 3 months
   compared to what you would usually expect.”

                         Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                              © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Business Issues

• Only 14 % of businesses have reduced staffing levels. 23% of
  businesses have increased their activity in new markets

                 Staff Numbers         14%                                  83%                                   3%


           Sales or Promotions         14%                              73%                                 13%

        Variety of Products and
                                   6%                            73%                                      21%
           Servic es Offtered

     Research and Development
                                        16%                                74%                                  10%
             Spending

      Marketing and Advertising
                                        19%                                69%                                  13%
              Spending

        Activity in New Markets         16%                          61%                                  23%


                 Staff Training        12%                                 80%                                  7%


                                  0%          20%              40%               60%                80%           100%

                                                     Decreased    Stayed the same      Inc reased



   Q26. “With regards to your company/business, how do you think each of the
   following have changed in the last 6 months?”

                         Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                            © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Business Pressures

• Cashflow and Fuel Prices cause most businesses pressure (60%+)

                       Cashflow     6%         18%                   36%                   19%           14%         8%



                     Fuel prices    5%         21%                    35%                  19%           11%     9%



            Competitive ac tivity 4%      15%                  32%                19%             14%          15%



     Price margins & profitability 4%      17%                  34%                  18%           13%         13%


              Business
                                3% 10%               24%              15%           21%                  27%
     Financ e/Funding/Overdraft


                  Interest rates 3%      11%            29%                 19%             20%                19%


                                   0%            20%              40%             60%              80%               100%

               Extreme pressure                  Quite a lot of pressure          Some pressure
               Hardly any pressure               No pressure                      Dont know/Not relevant to me


   Q15. “Whatever level of confidence you have about your business prospects
   now and in the next 12 months, please rate each of the following on how much
   pressure they will put on your business in the next 12 months.”

                          Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                             © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Business Pressures

• Half of all businesses report experiencing pressure through
  increasing business costs
             Timing of customer
                                3% 11%                 30%                  21%               19%            17%
                  payments



                Exchange rates 3%      13%           19%         11%         19%                     34%



     Business sales/projec ts: by
                                  2%   12%              31%               15%           16%                23%
                value


     Other (than staff) business
                                 2%    12%                 36%                  18%            16%           16%
               costs



     Business sales/projec ts: by
                                  2%   13%               32%                15%          15%               22%
               volume


                               0%              20%               40%              60%               80%            100%

               Extreme pressure                 Quite a lot of pressure         Some pressure
               Hardly any pressure              No pressure                     Dont know/Not relevant to me

   Q15. “Whatever level of confidence you have about your business prospects
   now and in the next 12 months, please rate each of the following on how much
   pressure they will put on your business in the next 12 months.”

                          Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                             © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Business Pressures

• Marketing & customer relationships remain an important focus
             Industry/category
                               2%       14%             29%                  18%            16%            21%
                performance



      Current business systems
                                 1%
                                  4%          23%                25%                     26%               21%
     (eg IT,acc ounting,website)



         Number & cost of staff 1%6%          17%       13%            18%                         45%



          Marketing & customer
                               1% 10%                 32%                    20%               19%         18%
              relationships



           Staff skills & training 4%    17%            17%               22%                        40%



                               0%               20%              40%               60%               80%          100%

               Extreme pressure                 Quite a lot of pressure            Some pressure
               Hardly any pressure              No pressure                        Dont know/Not relevant to me


    Q15. “Whatever level of confidence you have about your business prospects
    now and in the next 12 months, please rate each of the following on how much
    pressure they will put on your business in the next 12 months.”

                         Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                            © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Information/Advice on Tax and Compliance Issues

• Accountants are the KEY source of advise on tax matters


                                                Accountant                                             80%

                         IRD (Inland Revenue Department)                             34%

              Online (c omplianc e/tax information) sources                11%

                                       Business Associates                8%

                                                        Bank          7%

                        New Zealand Trade and Enterprise             2%

                            Other Government department              2%

                                          Software Provider      1%

                                     Chamber of Commerce         1%

                                                       Other         2%

            I don't ask for info on tax & c omplianc e issues        4%

                                                                0%             20%   40%       60%    80%    100%

   Q17. “Who do you ask for information or advice on tax and compliance issues?”



                       Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                          © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Information/Advice on Improving Business Performance

• Accountants & Business Associates provide most general business
  advice

                                   Acc ountant                                34%

                           Business Associates                          27%

                 Online (business information)                11%

                                           Bank              7%

            New Zealand Trade and Enterprise             5%

             IRD (Inland Revenue Department)            2%

                        Chamber of Commerce             2%

                Other Government department         1%

                             Software Provider      1%

                                          Other          5%

            I do not ask for this kind of advice                                    40%

                                                   0%             20%          40%         60%        80%   100%

   Q18. “And who do you ask for information about improving business
   performance?”

                       Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                          © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Most Help to Work Smarter in the Next 12 Months

• A focus on smarter financial management and better procurement
  is top of mind for a third of all businesses.

            Improved bookkeeping and
                                                                    33%
               acc ounting systems

                  Improved supplier
                                                                    33%
              relationships and pricing

             Improved website and e-
                                                             25%
               commerce facilities

              Improved banking and
                                                           22%
             business finance facilities

                   Improved business
                                                          21%
                  information facilities

                Improved staff skills &
                                                         20%
                    performance


                       Something else             12%


                                           0%         20%              40%              60%           80%   100%

   Q19. “Based on the way you do business today, which of any the following
   would most help you work smarter in your business in the next 12 months?”

                       Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                          © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
Supporting Business

• Tax breaks/reductions remain perennially popular with more than
  20% of businesses
                                          Personal Tax Reductions                     28%


                               Additional Business Tax Deduc tions                   23%


                                              GST Rate Reduction                 22%


                            Government Infrastructure Investment          4%


                    Increased Researc h and Development Funding           2%

            Business Start Up Tax Breaks Or Funding (not available
                                                                          2%
                          for established businesses)

                                          9-Day Working Fortnight     0%


                                                   Something Else         4%


                         None of them would make any difference                14%


                                                                     0%        20%         40%      60%   80%   100%



   Q20. “In your opinion, which ONE of the following would make the single biggest
   difference to supporting your business in the next 12 months?”

                     Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
                        © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
MYOB Business Monitor
New Zealand: July 2009
                 For further information please contact:

                              Julian Smith
                            General Manager
                          MYOB New Zealand
                        Julian.smith@myob.com
                          Tel: +64 9 925 3514
                          Mob: +64 21 773344
 Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439)
   © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced

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MYOB Business Monitor, NZ July 2009 (Detailed Chart Deck)

  • 1. MYOB Business Monitor New Zealand: July 2009 Detailed Chart Deck Status: Embargoed 4am, 13 July 2009 Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 2. About MYOB New Zealand • MYOB develops and delivers award winning business solutions, service & support to over 150,000 NZ businesses & 2,200 accounting practices • MYOB business solutions outsell any competitive solutions in NZ by a factor of 9 to 1 • MYOB solutions pay over 25% of New Zealand’s workforce • More than 90% of tax returns are now e-filed using an MYOB product each year (1.3m+) • MYOB has a dedicated NZ 25 person development team supported by an additional 200+ R&D specialists in Australia and Malaysia • MYOB invests more than NZD$30 million in R&D in NZ and Australia every year. Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 3. MYOB Business Monitor Method: Online Survey Web Interviewing based methodology using Colmar Brunton’s on-line panel Respondents for this study are: • Owners or key decision-makers of businesses • Broad cross section of NZ Businesses, from sole traders to mid-sized enterprises (up to 200 employees) • Businesses with estimated 2008 turnover of at least $40,000 • All industry sectors were covered (except for Government) • Nationwide coverage Total of 1439 respondents in the sample • Statistically representative data, weighted by business size, industry and location to reflect Statistics NZ population figures. Fieldwork dates Main sample: May - June, 2009 Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 4. Expectation for Future Work • All Business: 69% report the same or greater work pipeline in the next 3 months • Consistent in all industries, sectors & regions • SMEs with 10+ FTE: 71% same or greater in next 3 months 8% 18% 45% 17% 7% 5% 0% 20% 40% 60% 80% 100% A lot less work A little less work About the same amount of work A little more work A lot more work Don't know Q25: “Please indicate how much work you have got on in the next 3 months compared to what you would usually expect.” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 5. Supporting Business • Business tax deductions more favoured by employers • Personal tax reduction more favoured by sole traders • GST reduction favoured by Retail, Agriculture / Manufacturing & Hospitality & CHC business Personal Tax Reductions 28% Additional Business Tax Deduc tions 23% GST Rate Reduction 22% Government Infrastructure Investment 4% Increased Researc h and Development Funding 2% Business Start Up Tax Breaks Or Funding (not available 2% for established businesses) 9-Day Working Fortnight 0% Something Else 4% None of them would make any difference 14% 0% 20% 40% 60% 80% 100% Q20. “In your opinion, which ONE of the following would make the single biggest difference to supporting your business in the next 12 months?” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 6. Economic Outlook • Just over half of businesses surveyed expect recovery to be more than 12 months away. Within the next 3 Don’t' Know, 6% months, 3% 3 - 6 months, 8% In more than 2 years, 7% 18 - 24 months, 18% 6 - 12 months, 26% 12 - 18 months, 32% Q1. “When do you believe New Zealand’s economy will start to improve from its present position?” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 7. Change in Business Revenue • While 35% of businesses report revenue is down, 60% report revenues are the same or up on 2008 levels. Don't know, 4% Revenue up, 22% Revenue down, 35% Revenue about the same, 38% Q4a. “At the present time, is your business revenue (or gross turnover or sales) up or down on a year ago, or about the same?” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 8. Change in Business Revenue • 86% of businesses with revenue growth have seen gains over 10%, almost a third have increased over 30% REVENUE DOWN REVENUE UP 100% or More 80-89% 1% 70-79% 1% 3% 7% 100% or More 60-69% 3% Don't know, 4% 4% 60-69% 50-59% 13% Revenue up, 22% 8% 50-59% 4% 40-49% 40-49% 7% 6% 30-39% 30-39% 15% 23% 20-29% Revenue down, 35% 20-29% 27% 34% 10-19% 10-19% 24% Revenue about the 0-9% 14% 0-9% same, 38% 5% Q4a. “At the present time, is your business revenue (or gross turnover or sales) up or down on a year ago, or about the same? “ Q4b. “Please indicate how much your business revenue (or gross turnover or sales) is up or down on a year ago?“ Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 9. Change in Future Business Revenue • 76% of businesses expect future revenues to be the same or greater (34%) in the coming year Don't know, 8% Revenue down, 16% Revenue up, 34% Revenue about the same, 42% Q5. “And how do you expect your business revenue (or gross turnover or sales) in 12 months time to compare with your business revenue at the present time?” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 10. Tracking of Cashflow • Concerning - 44% of business report no or inadequate cashflow management I refer to my bank 33% statement I use my computerised 25% ac counting system I don't track cash flow as 13% well as I should My ac countant monitors it 13% for me I rely on my monthly profit 8% & loss statement My contract bookkeeper 2% monitors it for me Other 7% 0% 20% 40% 60% 80% 100% Q6. “How do you track cashflow in your business?” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 11. Change in Business Profitability • 60% of businesses have maintained or improved their profitability compared with last year. 9% 27% 33% 20% 7% 4% 0% 20% 40% 60% 80% 100% Deteriorated a lot Deteriorated a little bit Profitability has remained the same Improved a little bit Improved a lot Don't know Q7. “At the present time, has your business profitability deteriorated or improved compared with a year ago, or has it remained about the same?” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 12. Change in Future Business Profitability • Only 16% of businesses expect profits to fall in the coming year, 78% expect profitability to remain the same or improve 2% 14% 37% 31% 10% 5% 0% 20% 40% 60% 80% 100% Deteriorated a lot Deteriorated a little bit Profitability has remained the same Improved a little bit Improved a lot Don't know Q8. “And do you expect your business profitability to have deteriorated or improved in 12 months time, or to remain about the same?” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 13. Payment Terms • Almost half of all businesses offer 30 day credit terms 0 days - No credit provided 17% 7 days 15% 14/15 days 12% 30 days/1 month 49% 45 days 1% 60 days 1% More than 60 days 1% Dont know 4% 0% 20% 40% 60% 80% 100% Q9. “What are your normal payment terms?“ Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 14. Length of Time for Payment • 72% of payments are made within 30 days 0 Days - No credit provided 16% 1 to 6 days 10% 7 to 14 days 16% 15 to 30 days 30% 31 to 45 days 18% 46 to 60 days 5% More than 60 days 2% Don't Know 3% 0% 20% 40% 60% 80% 100% Q10. “On average, how long is it currently taking your customers or clients to pay you for your goods or services supplied for the work you have done?” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 15. Change in Payment Terms • Less than a quarter of businesses reported an increase in the time it is taking to get paid by customers. 3% 20% 68% 2% 6% 1% 0% 20% 40% 60% 80% 100% Taking a lot more time Taking a little more time Taking about the same time Taking a little less time Taking a lot less time Don't know Q11. “Compared with 6 months ago, is it taking more time to get paid by your customers or clients, less time to get paid, or is it taking about the same amount of time?” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 16. Application for Finance • The vast majority of NZ businesses are not seeking finance. Yes, 19% No, 81% Q22. “Have you applied for finance from a bank or other source in the last 6 months?” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 17. Type of Finance Institution Applied To • High Street Banks receive the bulk of financing requests Loc al high street bank 15% International investment 1% bank Non-bank finance company 3% Capital raising financial 0% instrument Other 1% 0% 20% 40% 60% 80% 100% Q23. “And what sort of financial institution did you apply to for funding?” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 18. Finance Application Status • 74% of finance applications are approved without modification Application approved 14% without modification Application approved with 2% modification Application approved for a 1% lesser amount Application was denied 1% Application is still under 1% c onsideration 0% 20% 40% 60% 80% 100% Q24. “Which of the following statements best describes what happened to your application for finance?” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 19. Expectation for Future Work • 69% of businesses surveyed report the work they have planned in the next quarter is the same or more than usual 8% 18% 45% 17% 7% 5% 0% 20% 40% 60% 80% 100% A lot less work A little less work About the same amount of work A little more work A lot more work Don't know Q25. “Please indicate how much work you have got on in the next 3 months compared to what you would usually expect.” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 20. Business Issues • Only 14 % of businesses have reduced staffing levels. 23% of businesses have increased their activity in new markets Staff Numbers 14% 83% 3% Sales or Promotions 14% 73% 13% Variety of Products and 6% 73% 21% Servic es Offtered Research and Development 16% 74% 10% Spending Marketing and Advertising 19% 69% 13% Spending Activity in New Markets 16% 61% 23% Staff Training 12% 80% 7% 0% 20% 40% 60% 80% 100% Decreased Stayed the same Inc reased Q26. “With regards to your company/business, how do you think each of the following have changed in the last 6 months?” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 21. Business Pressures • Cashflow and Fuel Prices cause most businesses pressure (60%+) Cashflow 6% 18% 36% 19% 14% 8% Fuel prices 5% 21% 35% 19% 11% 9% Competitive ac tivity 4% 15% 32% 19% 14% 15% Price margins & profitability 4% 17% 34% 18% 13% 13% Business 3% 10% 24% 15% 21% 27% Financ e/Funding/Overdraft Interest rates 3% 11% 29% 19% 20% 19% 0% 20% 40% 60% 80% 100% Extreme pressure Quite a lot of pressure Some pressure Hardly any pressure No pressure Dont know/Not relevant to me Q15. “Whatever level of confidence you have about your business prospects now and in the next 12 months, please rate each of the following on how much pressure they will put on your business in the next 12 months.” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 22. Business Pressures • Half of all businesses report experiencing pressure through increasing business costs Timing of customer 3% 11% 30% 21% 19% 17% payments Exchange rates 3% 13% 19% 11% 19% 34% Business sales/projec ts: by 2% 12% 31% 15% 16% 23% value Other (than staff) business 2% 12% 36% 18% 16% 16% costs Business sales/projec ts: by 2% 13% 32% 15% 15% 22% volume 0% 20% 40% 60% 80% 100% Extreme pressure Quite a lot of pressure Some pressure Hardly any pressure No pressure Dont know/Not relevant to me Q15. “Whatever level of confidence you have about your business prospects now and in the next 12 months, please rate each of the following on how much pressure they will put on your business in the next 12 months.” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 23. Business Pressures • Marketing & customer relationships remain an important focus Industry/category 2% 14% 29% 18% 16% 21% performance Current business systems 1% 4% 23% 25% 26% 21% (eg IT,acc ounting,website) Number & cost of staff 1%6% 17% 13% 18% 45% Marketing & customer 1% 10% 32% 20% 19% 18% relationships Staff skills & training 4% 17% 17% 22% 40% 0% 20% 40% 60% 80% 100% Extreme pressure Quite a lot of pressure Some pressure Hardly any pressure No pressure Dont know/Not relevant to me Q15. “Whatever level of confidence you have about your business prospects now and in the next 12 months, please rate each of the following on how much pressure they will put on your business in the next 12 months.” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 24. Information/Advice on Tax and Compliance Issues • Accountants are the KEY source of advise on tax matters Accountant 80% IRD (Inland Revenue Department) 34% Online (c omplianc e/tax information) sources 11% Business Associates 8% Bank 7% New Zealand Trade and Enterprise 2% Other Government department 2% Software Provider 1% Chamber of Commerce 1% Other 2% I don't ask for info on tax & c omplianc e issues 4% 0% 20% 40% 60% 80% 100% Q17. “Who do you ask for information or advice on tax and compliance issues?” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 25. Information/Advice on Improving Business Performance • Accountants & Business Associates provide most general business advice Acc ountant 34% Business Associates 27% Online (business information) 11% Bank 7% New Zealand Trade and Enterprise 5% IRD (Inland Revenue Department) 2% Chamber of Commerce 2% Other Government department 1% Software Provider 1% Other 5% I do not ask for this kind of advice 40% 0% 20% 40% 60% 80% 100% Q18. “And who do you ask for information about improving business performance?” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 26. Most Help to Work Smarter in the Next 12 Months • A focus on smarter financial management and better procurement is top of mind for a third of all businesses. Improved bookkeeping and 33% acc ounting systems Improved supplier 33% relationships and pricing Improved website and e- 25% commerce facilities Improved banking and 22% business finance facilities Improved business 21% information facilities Improved staff skills & 20% performance Something else 12% 0% 20% 40% 60% 80% 100% Q19. “Based on the way you do business today, which of any the following would most help you work smarter in your business in the next 12 months?” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 27. Supporting Business • Tax breaks/reductions remain perennially popular with more than 20% of businesses Personal Tax Reductions 28% Additional Business Tax Deduc tions 23% GST Rate Reduction 22% Government Infrastructure Investment 4% Increased Researc h and Development Funding 2% Business Start Up Tax Breaks Or Funding (not available 2% for established businesses) 9-Day Working Fortnight 0% Something Else 4% None of them would make any difference 14% 0% 20% 40% 60% 80% 100% Q20. “In your opinion, which ONE of the following would make the single biggest difference to supporting your business in the next 12 months?” Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced
  • 28. MYOB Business Monitor New Zealand: July 2009 For further information please contact: Julian Smith General Manager MYOB New Zealand Julian.smith@myob.com Tel: +64 9 925 3514 Mob: +64 21 773344 Source: MYOB Business Monitor, NZ, July 2009 | Base: Total Sample (n= 1,439) © 2009, MYOB NZ Limited, all rights reserved. Copyright strictly enforced