According to the Small Businesses New Zealand factsheet released by Ministry of Business, Innovation and Employment (MBIE), which provides a detailed snapshot of small businesses demographic in New Zealand and its impact across all industries:
- 97 per cent of all enterprises have fewer than 20 employees
- produce an estimated 26 per cent of New Zealand’s GDP
- Businesses with fewer than 20 employees created almost half of all jobs
MBIE has explained that there is a greater diversity of ownership structures with small businesses, and these tend to be younger than larger firms. These small firms have more difficulty obtaining debt and equity financing. The following statistics from the New Zealand Fact Sheet has shown high failure rates among small enterprises:
The Register Retail Intelligence has given the top reasons for the Small Enterprises failure:
- Not having a vision
- Not having a plan
- Hiring the wrong people
- Not understanding the customers
- Not networking face to face
This is where Consulus New Zealand can add value to SMEs through our business transformation solution: PurposeCORE. It is a purpose-driven approach, integrating business strategy, organizational development and experience design solution that SMEs across the world has adopted. And the solution delivers the following outcomes:
- Helps SMEs develop a new business purpose and vision after conducting a 360° study of the business
- Then Consulus New Zealand will work with the business owners to shape and implement an integrated strategic plan to reshape business and organizational approach to unite the team.
- The organizational approaches include a new approach to talent development for small companies.
- The PurposeCORE solution involves redesigning the customer journey to enhance engagement and revenue.
- Finally a new creative experience to enhance brand influence
Since 2004, Consulus has served leaders, companies and cities globally to meet their innovation needs through a unifying approach that integrates business strategy, organizational development and experience design. Custom-built solutions by Consulus have helped clients increase revenue by over 138%, expand to overseas markets, develop new products and intellectual property, and prepare the next generation of leaders to drive and sustain high growth.
About Michael Dai – Country Director at Consulus New Zealand
Michael Dai is a recognised Lead Computer Architect with more than 29 years of experience in Information Technology and Digital Technology. Michael has worked on many large transformation projects from banking to healthcare. He leads the New Zealand national network of Consulites (Consulus Consultants) to help companies and cities there transform and be ready for Industry 4.0
Find out more about what Consulus New Zealand can do for you, your organization or city. consulus.com/newzealand