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

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The MYOB Business Monitor is a nationwide survey of over 1400 local businesses, representing the range of business sizes, from sole traders to larger businesses, across the full spectrum of business sectors in New Zealand. The MYOB Business Monitor is designed to research key areas of business performance, including current activity, profitability, cashflow and pipeline work. The research was conducted by Colmar Brunton for MYOB in May and June.

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

  1. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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

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