Tax hikes number one concern for NZ small business this election

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New social research has identified tax as the number one concern for small businesses heading into this year's election.

Manager of Xero, Craig Hudson, reports findings that tax is the number one concern for small businesses heading into the election.
Source: Breakfast

Research by Xero found almost half of small business owners surveyed believe the amount of tax their business pays will be impacted following the election.

New Zealand Xero manager Craig Hudson said small businesses are "absolutely the backbone" of every economy around the world, and the effect of tax hikes on them has significant trickle down consequences.

"Ninty per cent of all businesses in New Zealand are small businesses so we're talking a massive cross section here," Hudson said.

"It impacts our GDP quite a lot, and employment rates, so having a higher tax rate means there's going to be less employment opportunities, less growth opportunities, less opportunity for those business owners to take a step into the void to be able to take their business to the next level."

Surprisingly, Hudson said there was no one political party that small business owners were overall leaning towards this election, with 35 per cent still sitting on the fence over their vote.

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