IBBZ Accounting

Chartered Accountants & Tax Specialist

 

Useful tips for Small Business

General update by IBBZ Accounting on latest tax news, business growth and technology tips.

Blog posts tagged in Economy

Why are small businesses important in growing New Zealand’s economy?

Small Businesses

 

Small businesses are independently owned cooperation, partnerships or sole traders. There is a close control over operations and decisions by the owners. In NZ, small businesses play an important role in the growth of economy as they make up majority of businesses.


Although the big businesses may lead the stock market, however the small businesses are making economy moving as these are engine for growth. 97% of businesses in NZ are small businesses, employing less than 20 people and contributing 28% in GDP of NZ (New Zealand’s Support for Small Business 2018).

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