Despite the country sliding into recession last year, figures for the 2008 year, the latest available, show it wasn’t all bad for NZ businesses. Statistics NZ says -

• Total income for all NZ businesses increased to $560.8bn for the 2008 financial year. Somwhat suprisingly, the 7.1% ($37.2 bn) rise is higher than the 6.4% rise in total income in 2007.

• Income from sales of goods and services increased by 7.8% to $430.1bn in 2008, following a 4.2% increase in 2007.

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• Total business expenditure increased to $513.3bn in 2008, up 10.6%. The two largest parts of expenditure are purchases, and salaries and wages.

• Purchases and other operating expenditure increased by 8.3%, to $320.2bn in 2008, following a 4.4% increase in 2007.

• As a result of total expenditure increasing at a higher level than total income, the surplus before income tax decreased to $53.5bn in 2008, down $11.9bn (18.3%) from the 2007 financial year.

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