Growing New Zealand Businesses: Summary of survey findings

Abstract

Growing New Zealand Businesses (GNZB) is a project being undertaken by staff and research students at The University of Auckland Business School (UABS). It seeks to understand growth and innovation activities and challenges of New Zealand small and medium-sized enterprises (SMEs). The project is creating a knowledge base which will inform teaching and related outreach activities, and ultimately to assist the growth and development of New Zealand SMEs. A key part of the project is a GNZB survey, developed in collaboration with researchers at the University of Cambridge, and the University of Queensland Business School. The survey was carried out in late 2010 – early 2011, against a backdrop of continued sluggishness in the economy in the wake of the global financial crisis, and between the first and second major Canterbury earthquakes. The GNZB Survey was sent to the Chief Executive Officer of 11,188 manufacturing and business service SMEs (with fewer than 250 employees) in November 2010, with follow-up reminders in late November and mid December. Some (552) were returned unopened (‘wrong address’, ‘business closed’, etc.). Altogether 1911 were filled in and returned, marking an 18% response rate. Of these, 1762 fitted the size (less than 250 employees) and sector (manufacturing and business services) criteria, and are the focus of analysis here. The survey had five sections: General Characteristics of Your Business, Innovation, Competitive Situation and Collaborative Activity, Finance, and You and Your Business. One striking feature of the returns was the care with which they were completed, both in terms of figures provided, and responses to an open question about success and its measurement. This summary is based on descriptive statistics, prior to detailed analysis. The survey itself will be followed by interviews of roughly thirty CEOs, selected from over 50% of respondents who indicated a willingness to be interviewed. In addition, similar surveys carried out in the UK and Australia – and potentially other countries – will provide the basis for comparative analysis and benchmarking. This will further enrich our understanding of New Zealand SMEs, their innovative activities and growth challenges.