Xero helps us learn more about the five key areas of small business – cash flow, getting paid, hiring people, trading overseas and cloud adoption. These insights have been drawn from a pool over 300,000 business owners in NZ and normalised for easy reading.
Cashflow – the life blood of every business
We see how cashflow patterns tighten around Provisional Tax payment times, May, August, and January. Business owners overdrafts are dipped into around these times.
It appears business owners on average get paid a week after the end of the month. So if you are operating on payment on 20th of the month you are on average getting paid at the end of week one of the following month. So 35 days not 20 days trading terms.
Business owner owners are hiring
Which shows a measure of business confidence.
Imports versus Exports
Shows some interesting trends with increased activity. In plain English more trading has been done especially in March 2018
Shows NZ business owners have a strong take up of cloud computing. It appears the number of apps add ons used with Xero, indicates business owners are getting more efficiencies from using cloud technologies in their businesses.
For more information, check out the Xero Small Business Insights here or
for help analysing your own business data – contact one of our friendly Franchise Accountants team today.