On Monday 26 March, Stuart Nash, Minister for Small Business, officially announced details of the New Zealand Business Performance Panel.

Made up of experts from top universities in the United States, Australia, and New Zealand, along with local organisations like the Productivity Commission, the panel aims to help Kiwi businesses find practical ways to improve their management practices, such as cash flow forecasting and leadership skills.

Minister Nash says the knowledge of the Panel could help small businesses achieve their goals.

"Small businesses are very diverse, and many of them rely on one person performing many roles. As business owners juggle competing priorities they may not know how or where to tap into the latest expert advice."

"The establishment of the New Zealand Business Performance Panel means Kiwi businesses will have access to advice from some of the world’s thought leaders on business performance, tailored to suit a New Zealand business environment," says Minister Nash.

Members of the New Zealand Business Performance Panel have worked with business.govt.nz to create the first section of business performance resources – on leadership and management – including information, case studies, and self-assessment tools. These pages have been viewed more than 10,000 times in the four months since launch with an average time on each page of over seven minutes. Users have given the resources an average rating of 4.6 stars out of five.

Minister Nash says research from the Productivity Commission and business.govt.nz shows improving managerial skills is the best thing businesses can do to raise their productivity.

This week business.govt.nz also launched a new section on strategic finance with help from the Panel. Businesses can use it to understand and take control of their finances – and make better decisions.

"I look forward to seeing more of the resources the New Zealand Business Performance Panel creates to help Kiwi businesses, as they continue to draw on expert advice from the global frontiers of innovation and business," says Minister Nash.