New Zealand's entrepreneurs are highly ambitious despite having low confidence in the outlook for their business.
Photo: 123rf
Survey data from the global ecommerce service Shopify indicates one in 10 operators aren't at all confident their business will survive in a post-covid world, yet 41 percent of small business owners are still committed to starting a new business this year.
Shopify regional managing director Shaun Broughton said the survey results reflect the current entrepreneurial economy sweeping New Zealand.
"New Zealanders have proven time and time again that they find inventive ways to prevail in times of struggle and uncertainty," he said.
Cash flow and profitability are considered to be the main challenge facing a third of all businesses, while personal grit, determination and resilience are the most important elements to surviving the pandemic, according to 38 percent of them.
One in five thought moving their business online was the key to their survivial.
Discrimination in the work place is the reason why about one in six women and men decided to became entrepreneurs, although more than two-thirds of women said family responsibilities were the main reason they set up shop.