Unlocking and accelerating growth
Think long-term, seek advice and identify the people you need to make your vision a reality.
This appears to be the simple but fundamental insight from the 2008 ANZ Business Barometer, an annual survey of business owners in New Zealand's vitally important privately-owned larger business sector (companies with annual turnover ranging from $5 million to $150 million).
Insights into GrowthMost business owners are quietly confident about the outlook for their business, but increasing consolidation in the New Zealand industry and new markets opening abroad will present unique opportunities for owners to make acquisitions that have the potential to deliver substantial growth. Strategies are needed to deliver step-change rather than organic growth.
Insights into change
At the same time an aging ownership base sees succession as a "big issue" but seems reluctant to begin handing over the reigns. Succession can be far more than simply exit; change of ownership is a journey that needs to be planned for, and those who have taken the step of identifying the "who" seem to find planning the "how" easier.
Insights into Governance
Most business owners value the different thinking and ideas provided by external sources such as independent directors, boards and advisors. Growth could be accelerated with the greater involvement of talented individuals who can add value to the planning and execution of growth strategies.
Read the full survey. Download your complementary copy of the ANZ Privately Owned Business Barometer 2008.
