Small business accounting reports are probably showing some promising results in New Zealand, if the sector's sentiments are any indicator.
With Wellington leading the charge, New Zealand's small business owners are optimistic about their prospects in the economy. The Australia and New Zealand (ANZ) Bank recently released results from its September 2014 survey of small firms, revealing that positive sentiment is about double the historic norm.
"Businesses across New Zealand remain upbeat and are seeing positives in the current environment despite challenges such as higher interest rates, weaker commodity prices and a high dollar," said Fred Ohlsson, ANZ's managing director of retail and business banking.
"Their strong commitment to keep investing means they're putting their money where their mouth is which will go a long way towards supporting sustained growth in the economy."
The bank noted that small enterprises constitute about 90 per cent of businesses in New Zealand, providing almost a third of jobs in the country. As such, the success of these firms is a boon for owners and the economy alike.
For organisations looking to take advantage of opportunities in the current environment, having a strong accounting strategy could provide valuable insight into strategies and investment choices - especially as they seek ways to overcome obstacles like interest rates.
Leveraging accounting software such as CashManager by Accomplish makes it easier to report on finances. This gives business leaders accurate, comprehensive information about their assets, liabilities, revenue and expenses. With ready access to this information and other budgeting features, SME owners have valuable tools to help them optimise their operations and improve their cash flow.