A successful business will have many string to its bow. Of course, there's the need for a superior product, service or offering, and there's also local regulatory and compliance frameworks to consider, too.
Naturally then, success can actually be dictated to some extent by geography. Fortunately, for small and medium-sized enterprise owners here in New Zealand, it appears as though conditions are some of the best anywhere in the world.
The changing face of business
Ranked on a range of factors by accounting firm BDO, New Zealand is the 10th easiest country anywhere in the world to do business. Everything from the quality of New Zealand's labour force, to its use of technology was taken into consideration across the research
Ultimately, New Zealand is the top ranking country in Oceania, finishing two places above close neighbours Australia.
Small business difference
While the findings of BDO take into account organisations of all sizes, small businesses operating in New Zealand also have the benefit of good conditions according to research collated by the World Bank Group (WBG).
In fact, in terms of setting up a new endeavour anywhere across the globe, WBG ranked New Zealand as the number one place for startup endeavours. Some of the reasons behind this include the ease with which new businesses can secure the applicable credit on these shores, as well as how easy it is to protect investments.
As touched on, the country's use of technology, such as small business software like CashManager from Accomplish, is what really sets the nation apart.
Fortunately, what both the BDO and WBG reports show is that business conditions are at a world-renowned level here in New Zealand, giving the country's enterprise owners the platform to build their endeavours with relative ease.