If one thing can be said about the present economy in New Zealand, it’s that small and medium enterprises (SMEs) have become a very large part of it. These may not be major companies, but these businesses, many of them self-starters and a growing number of them created by women, have become such a force that the Small Business Minister has recently announced the creation of an SME Research Hub to provide a wealth of business information for SME owners and employees.
To emphasise the important role that these enterprises play in the business landscape, here are 10 interesting facts about SMEs in New Zealand today:
So you’ve had this great idea for a business, starting with a product that you just know the world needs. You get all excited about turning your idea into a reality and becoming the head of your own successful business. Flash forward six or eight months and you find yourself running in place. So what went wrong? It’s easy to blame the idea, but maybe the real problem is your business planning.
Any truly successful business must deal with three distinct mindsets: the now, next and later. It’s not good enough to simply come up with an idea, no matter how great that idea may be, you need to follow that idea along its natural progression into the next level and further on into the future. It sounds obvious, but it’s a part of business that most people tend to overlook or undersell.
It’s easy to get sucked into the excitement of the now, the immediacy of your great idea and the eagerness of the business kickoff. But...
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