Photo credit; Michael Button

Confidence in New Zealand small businesses is at its highest level in 15 years, according to the latest ANZ survey of small businesses.

In addition to that, this also marks the sixth consecutive quarter that confidence has risen.

Small businesses are seen as a good indicator of the country’s mood because they make up nine out of every ten firms and employ almost a third of New Zealand’s workers.

The service sector tops the survey, but sentiment is also up in retail, construction and agriculture.

ANZ says the record confidence is due to the Canterbury rebuild and business coming out of a tough five years.

Retail and business banking managing director at ANZ Fred Ohlsson said hiring intentions are stronger across small businesses with a third expecting better profits.

“These are confidence levels and activity levels that we will see for quite a while,” he says. “It (the confidence level) has risen slowly, and over time – this is not a one-quarter wonder”.

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