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Problems of growth highlighted by business survey

26 February 2014

Media Release

Problems of growth highlighted by business survey

A survey of almost 300 businesses last week in the Northland and Central North Island regions reveals some extraordinary results.

72% of survey respondents believe that the general business situation in New Zealand will continue to improve over the next six months, an increase from 62% last quarter. This response is also matched by 66% of respondents believing that their own personal business situation will see a direct improvement in the coming six months, another rise in confidence from the last survey in Nov 2013 which reported 64%.

“Businesses are gearing up for a greater investment of time, increased profitability and are looking ahead to improved export opportunities” says Tauranga Chamber of Commerce acting chief executive Anne Pankhurst.

“As with other growth regions in New Zealand finding the right people with the right skills just got harder. 25% of businesses reported difficulties in employing skills, reminding businesses that if people are an important part of growth they will need strategies for training and retaining employees.”

Businesses are also concerned that interest rates will affect their ability to finance increased activity as obtaining finance becomes the most limiting factor to growth for 25% of businesses in the region, up from 22% last quarter.

The survey also revealed: Intentions to employ UP
Hours to be worked UP
Expected Costs UP
Expected Profitability UP
Expected Sales UP
Expected Export Sales UP

ENDS


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