Productivity drops for SMEs, Xero reports

Xero's country head Bridget Snelling says regional targeting is needed for productivity-focused policy. (Image: Xero)

Thu, 13 Jun 2024

Small businesses nationwide were 6.1% less productive in 2023 than the previous year, according to new data from accounting software provider Xero. The latest Xero Small Business Insights report showed all sectors and regions in New Zealand in the red. Agriculture led the decline, with 12.1% less output, followed by hospitality and retail trade at –9.2% and –7.8% respectively. A struggle for hospitality The report paints a grim picture for hospitality operators, whose labour productivity – measured by com...

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