Minister's words

Transcript: Statistics can boost your business

Hon Clayton Cosgrove
MP for Waimakariri
Minister of Statistics

As you know, the government collects data through a huge variety of sources, including business surveys and the Census. This data provides vital information about the economic and social make-up of our country.

Statistics reveal how and where we live, what we do for a job, what we do in our spare time and what we spend our money on.

This information is vital for planning across all spectrums of our society, and for the ongoing transformation of our economy.

The government for example, uses population trends to help plan for future roading, schooling and housing needs. Local authorities use stats when writing their district plans.

Statistics are also a major tool for you, the small business owner – whether you are starting out or already in business. Information inspires ideas.

As a former small business owner myself, I know the realities of the competitive business world.

Good businesses are not built on guesswork or hope. One of the first rules of business is to know your market. Identify your customer. Monitor trends. Target your product.

In other words, use statistics to boost your business.

PAUSE

I'm standing in a Christchurch industrial area, which is fairly typical of other industrial centres around the country.

You can see there are a variety of businesses, including a computer retailer, a welding shop, a sign maker, a building company, car repairer, insurance broker and a café.

Most of these companies would be defined as small-to-medium sized enterprises, because they employ less than 20 people.

All of these companies could be using statistical data to help determine their market share, identify export markets or potential local customers, and better target their promotions.

Much of the data is free, but Statistics New Zealand can also provide a useful, relevant and tailored package of statistics for your business at a minimal cost.

A staggering 96 percent of New Zealand businesses are small-to-medium sized, and they employ more than 570,000 people, or roughly a third of the workforce.

They are part of the backbone of our economy, contributing around 39 percent of New Zealand's total economical output, and this share is growing.

You are vital to the economic transformation of our country.

Data collection is a two-way street. We need your participation in filling out surveys so we can provide data back to you to help grow your business. The information is here for the taking.

As Minister of Statistics, I urge you to use statistics to help grow your business even further.