Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Stress Levels Go Up in NZ Family Businesses

Media Release 21 November 2006


Stress Levels Go Up in New Zealand Family Businesses

Half of all family businesses in New Zealand saw their stress levels increase or increase significantly over the past year, according to new research conducted by business and financial advisers Grant Thornton.

The findings, which were part of a Grant Thornton international survey carried out with more than 3,000 mid-sized family business owners from 27 countries, showed that 49.3% of the New Zealand businesses were in the increased stress bracket. Another 38% felt that stress levels had remained the same, while the remainder said there had been a decrease.

They were far from the top end of the increased-stress scale, however, with Taiwan (90%), China (84%), the Philippines (78%), Botswana (76%) and Russia (67%) topping the chart.

At the bottom of the scale were Sweden (20%) and the United States (39%).

Neighbours Australia fared a little bit better than New Zealand, with 45.4% reporting increased stress.

Grant Thornton New Zealand spokesperson Peter Sherwin commented: "It is not uncommon for family businesses to report high levels of stress. There is often a fine line between personal and business life in these situations and this can breed stress.

"Unfortunately less than 10% of family businesses in New Zealand make it through to the third generation and increasingly stress is a prime factor in this attrition rate."

Both job security and overseas travel were relatively low causes of stress in New Zealand and Australian companies, but lack of leave could be a point of pressure, according to Peter Sherwin.

"Leaders in New Zealand family businesses had on average 17.5 days leave a year. The figure was generally higher in European countries, most of which had 20 days plus on average. In the case of France, they actually managed to average 26 days a day on leave.

"It would seem that a natural way to lessen stress for New Zealand business-owners is for them to just try to stretch out their leave.

"But spare a thought for those poor people running family businesses in Asia - in Taiwan the average is only eight days and in Thailand it is a miserly four days a year."

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Stats NZ: Election Boosts October Job Numbers

Job numbers were boosted by general election staff in October 2020, along with rises in the manufacturing, retail, and hospitality industries, Stats NZ said today. Filled jobs rose by 27,667 to 2.2 million in October 2020 compared with September, after ... More>>

Government: New Year Border Exception For Seasonal Workers In The Horticulture And Wine Industries

2000 additional RSE workers to enter New Zealand early next year employers must pay these workers at least $22.10 an hour employers will cover costs of managed isolation for the RSE workers RSE workers will be paid the equivalent of 30 hours work a week ... More>>

ALSO:

Grey Power: Is Disappointed To Learn Of More Bank Closures

Many older people are being left without essential services because of cost cutting and the march of modern technology. It is now expected that most banking transactions can occur via the internet or telephone. Jan Pentecost, President of the Grey Power ... More>>

ALSO:


Media: Discovery, Inc. Completes Acquisition Of New Zealand’s Mediaworks TV Ltd

Auckland, New Zealand, December 1, 2020 - Discovery, Inc. (“Discovery”), the global leader in real-life entertainment, has completed its acquisition of New Zealand’s leading independent free-to-air commercial broadcaster, MediaWorks TV Ltd, now operating ... More>>

Department Of Conservation: Big Year Underway At Albatross Colony

Familiar faces are returning for the new season of Royal Cam, with a big breeding year underway for the toroa/northern royal albatross colony on Otago’s windswept Pukekura/Taiaroa Head. More than 120 albatrosses, a taonga species, have returned ... More>>

Real Estate: ASB Survey Reveals Majority Of Kiwis Expect House Prices To Keep Climbing

ALSO:

House price expectations are soaring as New Zealand’s housing market shifts up a gear. But stretched affordability is putting a dent in perceptions of whether it’s a good time to buy. While Kiwis reveal they do expect interest rates to fall further. ... More>>

Stats NZ: Births And Deaths: Year Ended September 2020

Births and deaths releases provide statistics on the number of births and deaths registered in New Zealand, and selected fertility and mortality rates. Key facts For the year ended September 2020: 57,753 live births and 32,670 deaths ... More>>

ALSO: