As we continue to live with the impacts of the global pandemic, small businesses across different regions and industries in New Zealand have fared differently. Through Xero’s Small Business Insights (SBI), we’re able to see trends in revenue and employment, and paint an accurate picture of the New Zealand small business economy using real data.
Revenue largely steady nationwide
The latest Xero SBI data for August shows New Zealand small business revenue continued to grow (up 4%), despite the second lockdown in Auckland. This marks the third consecutive month of positive revenue growth for the small business sector.
In Auckland, the second lockdown had an impact though, causing small business revenue to drop to -4.4% year-on-year. Queenstown also remains heavily impacted by border closures, resulting in revenue down -10.8%. However, it was encouraging that all other regions saw their revenue increase year-on-year.
Many industries also saw an increase in