MYOB research shows National is leading the SME vote, and Labour support has dropped 23 per cent since 2020. Photo / 123RF
MYOB research shows National is leading the SME vote, and Labour support has dropped 23 per cent since 2020. Photo / 123RF
The voting intentions of small business owners have swung dramatically over the last three years, new research shows.
Support for Labour has plummeted from 38 per cent in the 2020 election to just 15 per cent in a recent survey of small to medium business owners by MYOB.
Those whosaid they would vote for National rose from 35 per cent to 42 per cent.
MYOB’s latest SME snapshot surveyed over 550 SME owners and decision-makers.
While 11 per cent were undecided, 15 per cent said they would vote for Act, up from 5 per cent in the previous election, while support for the Green party was also up on 2020′s results at 6 per cent (3 per cent in 2020).
Support for NZ First and Te Pāti Māori was also up on the 2020 election, at 5 per cent (up from 3 per cent) and 4 per cent (up from 0 per cent), with 1 per cent saying they would not vote.
National ranked highest on which political party SMEs said had greater understanding of their business needs at 47 per cent, with Labour and Act following at 15 per cent each.
Government policy lead Helen Lea said MYOB research had shown “a steady but consistent drop in satisfaction” for the Government among SMEs since the past election, coinciding with falling economic confidence.
“This sentiment is likely contributing to their current desire for change,” Lea said.
She said the surge in SME support for Labour in the previous election had settled back to the group’s traditional alignment with National and Act.
“While it might not be surprising to some to see National at the top of the ballot for SMEs, we saw a very different picture in the run-up to the 2020 General Election and in our polling afterwards, with Labour garnering the most votes from New Zealand’s SMEs,” Lea said.
Research shows SME support for Labour was up markedly in the 2020 general election, but has since dropped. Photo / Mark Mitchell
“This year we’re seeing a return to previous form, with National likely to secure more votes from leaders of local small and medium businesses.
“We are seeing Act polling strongly amongst some key sectors that are traditionally National Party territory, including the professional and property services industry and agribusinesses.”
Most respondents said either not enough attention (42 per cent) or very little attention (31 per cent) would be given to issues affecting SME owners this election.
However, Lea said there was plenty of opportunity for the party leaders and senior spokespeople to increase their engagement with local SMEs.
“For almost two-thirds of SME decision-makers, policy is what has the most influence over where their vote goes, ahead of the party’s leader and the party’s track record,” she said.
“Party manifestos and new policy announcements will be key catalysts to drive voting consideration as SMEs assess which party best reflects their values and who is taking action on the issues they care about.”
Crime, rising living costs and complex compliance rules have also meant almost two-thirds of respondents said it was time for a change in Government.
Tax law simplification and streamlined compliance: 28 per cent.
More investment in crime prevention and protection for business owners: 24 per cent.
Targeted support for skilled migrant workers: 20 per cent.
Sixty-four per cent of SMEs said it was time for a change in Government, 21 per cent said the current Government should be re-elected, while 10 per cent said the Government in power made no difference to them.
Lea said while there was a mood for change from SMEs, their priorities and concerns often overlapped with what was on the radar for many other Kiwis.
“With more than 550,000 SMEs in New Zealand, local business owners and the people who work for them represent a significant voting base… they are eager to see action on issues affecting all New Zealanders,” Lea said.
Alka Prasad is an Auckland-based business reporter covering small business and retail.
