Sales For Small Businesses In The Agriculture Sector Fell 11.5% In September Performing Significantly Worse Than The National Average

Sales for small businesses in the agriculture sector fell 11.5% in September, compared with September 2022, performing significantly worse than the national average. Xero economist Louise Southall says the latest Xero Small Business Index shows the agricultural sector lagging the national average across sales, jobs and wages but that time taken to payment is favourable. The survey sampled 600,000 of Xero’s small business customers in five countries including New Zealand. In the September quarter, sales growth in agriculture was minus 5.4%, the weakest of all NZ industries in this period. Jobs in agriculture grew 2.1% in September, below the national average of 6.9%. Louise Southall says because of agriculture’s exposure internationally, sales growth during the past year has been slow but on the positive side there was a shorter payment time and jobs growth as international borders open and backpackers return.