Latest / Best of Business / Chris Small: ABC Business Sales Managing Director on the data showing small business sales rose 3.9% in the March quarter

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Chris Small: ABC Business Sales Managing Director on the data showing small business sales rose 3.9% in the March quarter · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from News talk Ed be
• 0:12
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• 0:16
  Speaker 2: Zero meantime back here. Have produced some new small business
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  Speaker 2: data for us this morning. So new data on small
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  Speaker 2: businesses turns out they're doing well. Sales up three point
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  Speaker 2: nine percent year on year March alone, five point five retail, hospit,
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  Speaker 2: and construction all lifted. So what's this tell of about resilience?
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  Speaker 2: Chris Small, ABC business Managing director is well us Chris,
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  Speaker 2: morning to you.
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  Speaker 3: Well Mikey you doing very well, thank you.
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  Speaker 2: Is this all pre war?
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  Speaker 3: Yeah? Well, I mean, look two months of the three
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  Speaker 3: months were pre war. But you know those numbers mirror
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  Speaker 3: executive what we're seen in business sales where's that same
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  Speaker 3: quarter volume of transactions are up ten percent and dollars
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  Speaker 3: invested in small business we're up sixteen percent. So certainly,
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  Speaker 3: you know, January and February he went had a positive mindset,
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  Speaker 3: especially business owners till March kicked in, and I think
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  Speaker 3: you know, it took a while for the water sort
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  Speaker 3: are really comprehend and come through. So I think the
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  Speaker 3: start of March was also fairly strong compared to last year.
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  Speaker 2: So how do you explain much up five point five
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  Speaker 2: in a month? What's what was going on?
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  Speaker 3: Look? I think, I mean the last twelve twenty four
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  Speaker 3: months are pretty tough for small business. People have actually
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  Speaker 3: said to themselves we just need to move on, get
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  Speaker 3: a good positive mindset and actually just go for it now.
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  Speaker 3: And a lot of a lot of the weaker players
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  Speaker 3: have actually been weeded out in the last couple of years.
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  Speaker 3: You probably left with a high quality small, smaller medium
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  Speaker 3: sized enterprises still in the market. But I suspect April
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  Speaker 3: may be a little bit different.
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  Speaker 2: Yeah, And do you have any sense of that or
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  Speaker 2: are you like Jerome Powell, who the hell knows what's
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  Speaker 2: going on?
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  Speaker 3: Well, we've just we're just closing the books for April,
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  Speaker 3: and we are a level with where we were last
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  Speaker 3: year in regards to business sales and money invested in business.
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  Speaker 3: But that's a lot of those a lot of those leaders.
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  Speaker 3: You know, there was stuff that was in the pipeline
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  Speaker 3: and January and FEBIN still happening, So there may be
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  Speaker 3: a little bit of a lag. But everyone just wants
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  Speaker 3: to see three of us and get on. You know,
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  Speaker 3: if we're all sick of being in what recession and
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  Speaker 3: a recessionary environment. We need to get a positive mindset
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  Speaker 3: and get get up and Sis and Gear are comedy
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  Speaker 3: back and firing.
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  Speaker 2: And speaking of that, I've been talking to a couple
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  Speaker 2: of people in christ Church who owned businesses in the
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  Speaker 2: last couple of days let's post the event that rugby
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  Speaker 2: and all that sort of stuff over the weekend. They
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  Speaker 2: literally have not seen it like it is. They're fizzing.
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  Speaker 2: That's it's like it's a different world from the rest
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  Speaker 2: of the country from your Do you see that in
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  Speaker 2: what you're doing?
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  Speaker 3: Absolutely spot on. I was about to talk to the
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  Speaker 3: regional bias. So Southods has been our fastest growing business
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  Speaker 3: sales here. We're up forty one percent year and in
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  Speaker 3: two particular regions absolutely dominate, one be in christ Church
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  Speaker 3: and the other being Central Targer. You go to I
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  Speaker 3: wasn't Central Otago two weeks and they even all the
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  Speaker 3: business owner saying, look, we're in a bubble around. You
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  Speaker 3: can watch the news and don't really understand what's going
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  Speaker 3: on in the rest of the country, and christ Church
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  Speaker 3: is exactly the same. So we do have a bit
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  Speaker 3: of a two speed economy with Central Targo on christ
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  Speaker 3: Church in a bit of a target as well, going
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  Speaker 3: at one speed, and then you've got you know, I
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  Speaker 3: guess the bigger urban areas like the like from Auckland
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  Speaker 3: and Wellington and so forth, going to the slightly slow
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  Speaker 3: speed and sort of crawling along compared to those other regions.
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  Speaker 2: And the funny thing is, I'm glad you're on actually,
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  Speaker 2: because not to confuse people with the zero numbers versus
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  Speaker 2: your the you know, your industry's numbers, which is the
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  Speaker 2: sale of businesses, and looking at the sale of businesses
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  Speaker 2: the other day, it's up. I wonder do people just
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  Speaker 2: march to their own tune, because if you follow the news,
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  Speaker 2: you'd want to shoot yourself. But there are people still
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  Speaker 2: buying businesses, and you think, why would you buy a
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  Speaker 2: business in this climate? And the answer is because that's
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  Speaker 2: what you're going to do anyway. Is that fear?
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  Speaker 3: Absolutely? I mean, you've just got to keep on living
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  Speaker 3: in what's taping now, You've got to look through it.
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  Speaker 3: When you make a business investment, it's a ten year
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  Speaker 3: at a ten year play, it's not three months. So
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  Speaker 3: you've got to look through these short term blips that
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  Speaker 3: you seem seem to keep on coming thanks to our
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  Speaker 3: friends off sure, but you've got to look through that
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  Speaker 3: and you just got to look life and do what's
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  Speaker 3: do what you're thinking to see up as far as
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  Speaker 3: wealth creation for the future. So absolutely people are just
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  Speaker 3: looking through short term offshore problems.
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  Speaker 2: I guess, good stuff.
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  Speaker 3: Chris.
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  Speaker 2: Always good to have you on the program. Chris Small,
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  Speaker 2: ABC Business Managing Directly
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