Small Business in New Zealand: The challenge...

The fate of a small business in New Zealand is looking rather grim at the moment. Consider the future fate of a retail chain that offers goods manufactured in China.

A hardware store might sell a set of screwdrivers for $30, but a savvy Kiwi consumer can get something very similar for $20 via Temu or AliExpress.

That $20 includes delivery and GST, making it impossible for small business owners to compete.

Rising costs, direct access to cheap Chinese goods, and a consumer base reluctant to spend its money have negatively impacted the cash flow, profitability, and long-term sustainability of many New Zealand small businesses.

As a group, New Zealand’s small business owners are struggling to balance increased operational costs and costly regulatory burdens without passing them on to price-sensitive customers.

In the current economic climate, it sometimes seems that nothing works, including previously successful marketing and networking efforts. And yet, there is some cause for hope.

Every smart business owner knows the right move is to focus their energy on reducing costs, improve their marketing, engage in more business networking, and streamline their processes in an effort to gain a leg up on their competitors.

The Solution for Small Business in New Zealand

However, this is increasingly difficult in New Zealand, and retaining a positive mental attitude is difficult. Nevertheless, it’s an essential ingredient to the success of any small business in New Zealand.

Retaining one’s sanity is infinitely easier when we find and mix with like-minded individuals who are willing to support each other, swap ideas, refer potential new clients, and keep their respective spirits up.

Connect with me on LinkedIn and get in touch for more information.