Imposed brick-and-mortar closures prompted Kiwi businesses to get online. New Zealand’s digital transformation advanced by 5 years in merely 8 weeks. Digitalisation, coupled with the country’s impressive pandemic response, helped New Zealand achieve economic success. By the end of 2021, the annual GDP rose to 5.6%.
With this, it’s safe to say that the small business sector is faring well. However, the rising inflation, supply disruptions due to global conflict, and other economic pressures may say otherwise. These are some of the challenges facing enterprises in the pandemic’s second year.
Crazy Domains New Zealand gathered data from more than 300 micro-, small, and medium enterprises (MSMEs) on the state of their business for the past 12 months. Find out what crucial insights on their digital strategies and how emerging trends and global issues affected their trade and perspective.
Kiwi Businesses’ Performance and Economic Disposition
An almost equal number of entrepreneurs confess that their business has improved (24%) and gotten worse (25%) in the past year. The rest say that their performance remains steady despite the challenges of the previous months. This includes the continuing lockdowns and the frightening Omicron surge at the start of 2022.
The boost in the inflation rate and the continuing clash in Europe are shaking up the businesses’ confidence in New Zealand’s robust economy. Download the free report and learn more about how these issues in the backdrop are affecting the MSME’s business perception.
Integrating Digitisation
It seems that Kiwi MSMEs have mostly integrated online, with 83% already owning a website.
The following are some of the digital strategies that they’re leveraging to grow online:
- Web security tools (e.g., Site Protection, SSL, email protection)
- Email marketing platforms
- SEO tools
- Contactless payment
- Buy Now, Pay Later service (BNPL)
READ: How to Protect Your Business from COVID-19 Cyberattacks and Scams
Thriving in The Next Normal
While the economy is said to be nearing the “post-pandemic levels,” the future of business remains uncertain. Fully immersing in the next normal is necessary to equip entrepreneurs with resiliency to cope with sudden changes. This largely points to strengthening their online presence.
The Crazy Domains New Zealand’s Customer Survey for MSME Day 2022 provides comprehensive data on Kiwi businesses two years into the pandemic. The infographic examines their business performance, what digital strategies they’re adopting, and their business sentiments on current issues significantly affecting New Zealand’s economy. Get the infographic for free here!
