Optimism high but still lagging behind Australia

New Zealand business-owners are not nearly as confident about the economy as their Australian counterparts, according to the annual International Business Owners Survey.

This year's survey, conducted by accountancy firm Grant Thornton, included New Zealand business owners for the first time.

They ranked ninth in optimism among the 26 countries covered with an optimism-to-pessimism balance of 49 per cent.

India topped the league with 83 per cent and Australia was close behind with 81 per cent, with the United States third on 75 per cent.

Overall the survey, which covered 6600 owners of medium-sized businesses, showed a significant swing to optimism compared with the previous year.

But five of the 26 countries - the Philippines, Germany, Singapore, Poland and Japan - were in negative territory.

Singapore is the only country in the survey to become more pessimistic this year.

Grant Thornton's New Zealand chairman, Peter Sherwin, said it was good to see NZ in the top 10 on the optimism-pessimism balance, "but it is also a pity that the overall percentage score is not higher, particularly in relation to our nearest and biggest trading nation".