17th June, 2025
New data shows the majority of small-and-mid-sized businesses plan to leverage the Government’s new Investment Boost in the next six months
Following the surprise announcement of an Investment Boost tax incentive in the Government’s 2025 Budget last month, new data from MYOB reveals the potential impact and uplift the policy could have for local small and mid-sized enterprises (SMEs).
Just under half (48%) of the 500+ business owners and decision-makers polled, say they might change their plans around investing in new assets for their business because of the new policy, while just over one-in-10 (12%) believe the Investment Boost changes their plans ‘considerably’ and 7% are unsure. In comparison, 28% say their spending plans haven’t changed and 5% say their planned spending is ineligible.
As for how soon this spending will manifest and start flowing through the economy, sooner rather than later appears to be the trend, with most looking to capitalise on the incentive before the end of the year. Nearly half (45%) of local SME operators polled plan to make their first asset purchase leveraging the new Investment Boost within the next six months — including one-in-five who are planning to do so in the next three months.
Looking specifically at mid-sized businesses (with 20-200 FTEs), 52% of those surveyed plan to purchase their first new asset eligible for the Investment Boost in the next six months. This includes just over a quarter (26%) who are aiming to spend on a new asset in the next three months.
MYOB Chief Customer Officer, Dean Chadwick, says that the survey findings reiterate the strong appetite for such business support, given the sluggish pace of economic recovery.
“From conversations with our customers, partners and through our drumbeat of insights, we know that businesses that invest in assets that drive innovation, are gaining an edge on their peers, are more resilient in the face of change, and are more likely to achieve their growth ambitions,” explains Dean.
“The Investment Boost delivers timely support to New Zealand’s businesses as they weigh up current economic challenges with the opportunity to invest in growing their operations, and it will go some way to shoring up and accelerating their own performance.
“While many businesses are preparing to purchase the assets they believe will boost their productivity – and benefit their people – before the end of the year, this latest survey also shows that spending on eligible new assets will continue into 2026.”
When it comes to how much SME owners estimate they’ll spend on new assets for their business within this current financial year, the median spend of those surveyed sits at $37,700.
For the mid-sized businesses polled, the overall median estimated spend is higher at just over $74,500, however one-in-five decision-makers polled from mid-sized businesses said they plan to spend between $100,000-$199,000.
Topping the list of new assets the businesses surveyed plan to purchase leveraging the Investment Boost is passenger vehicles — including cars, vans, and utes (31%), followed by new office technology (28%), digital devices (22%), furniture (18%) and tools of their trade (15%). Just over one-in-10 plan to invest in smaller scale machinery or equipment.
“While it’s evident that New Zealand’s businesses know where they want to direct their investment to help them accelerate and grow, both the spend and potential returns still need to be considered against their broader performance, their forecasts, and their outgoings – particularly as their costs continue to increase,” explains Dean.
“Local businesses are serious about setting themselves up for success as they jump on this opportunity and they know getting the right advice is a critical component.
“Encouragingly, our insights show that 17% have already had discussions with their accountant, bookkeeper or a financial advisor on the purchase of new assets since the announcement, with a further 53% intending to consult with a trusted financial advisor in the next six months.”
Asked about how they believe their new asset purchase/s would most help improve their productivity, most (35%) SME owners expect to see increased outputs/production, 31% believe they’ll save time on key tasks, 23% expect to reduce manual tasks through automation, and the same proportion expect employee engagement and wellbeing will improve (23%).
Amongst mid-sized businesses, it’s a slightly different picture with higher confidence around the improvements they expect to see in their business productivity off the back of their investment in new assets. For example, 40% of decision-makers in mid-sized businesses expect to see increased outputs/production, while 37% expect improved employee engagement and wellbeing, and 32% of this group predict they’ll save time on key tasks, and reduce manual work through automation.
About the research
MYOB’s survey of SMEs (with fieldwork conducted by Dynata) comprises a nationally representative sample of 541 owners and decision-makers in small to mid-sized businesses in New Zealand. 184 of these businesses were mid-sized businesses (20-200 FTEs). The survey was conducted between 29 May – 5 June 2025. Respondents were sampled randomly from the Dynata online panel and screened to ensure they met the qualifying criteria. Quotas were maintained on industry sector, business size/FTEs and region to ensure a reliable and diverse cross section of SME opinions were obtained.
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