Business confidence among small firms has fallen to a nine-year low, with construction reaching negative territory, according to an ANZ small business survey. Photo / Bay of Plenty Times.
Business confidence among New Zealand's small firms fell to a nine-year low in the June quarter, according to ANZ's quarterly Business Micro Scope survey.
A net 30 per cent of small businesses were pessimistic about general business conditions, the most since March 2009, ANZ said.
Confidence slipped in both micro
firms - companies employing up to five people - and intermediate-sized businesses (six to 20 employees), unwinding gains in confidence reported in March, the banks said.
"Regulation remains the biggest concern facing small firms, particularly those in agriculture," said Antonia Watson, ANZ's managing director retail and business banking.
"Difficulty finding skilled employees is an ongoing challenge for many small businesses, particularly in construction, manufacturing, services and retail, and it continues to weigh on their confidence," she said.
