Business Growth Agenda remains a big focus across New Zealand

Cashmanager | 8 years ago

The National Party has long been backing the interests of small businesses across New Zealand, and the Business Growth Agenda could be the key to future prosperity in the sector.

John Key outlined a small business relief package back in 2009 - which saw financial support provided to SMEs as they rode out the worst of the global financial crisis.

Today, the focus and input continues, with priorities, objectives and hopes for small businesses set out along a three-year timeline. 

Increase the market

The number one aim of the Business Growth Agenda is to increase the scope for New Zealand's small businesses outside the boundaries of the country. This can be achieved through the negotiating and signing of free-trade agreements with other nations - most notably those in the Asia-Pacific.

The National Party explained that this will allow exporters of all sizes to compete on an equal footing with established multinational corporations.

Technology investment

The most savvy SMEs will already be using small business software and the online space for both B2C and B2B transactions. However, improving the technological innovation of New Zealand's enterprises will also be high on the National Party's agenda for the next three years.

By the end of that timeline in 2018, government-led investment in business research and development across the country will account for 1 per cent of GDP.

Given that GDP currently stands at US$185.8 billion, according to figures from the World Bank Group, that influx of capital could be great news for small businesses.

Economic management

Managing the economic growth of SMEs will remain high on the list of the National Party's list of priorities. The aim is to make the country a hub for small enterprises to branch out into the Asia-Pacific and secure sustainable expansion for all sectors.

"[The] Business Growth Agenda, along with broader economic management, will turn what has been one or two years of a world-leading growth performance into a sustained long-term lift in New Zealand's prosperity," concluded National Party Economic Development Spokesman Steven Joyce.

With politicians of differing allegiances backing small business development in New Zealand, the sector could well be set for growth and prosperity both now and in the future.