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ANZ Barometer highlights need for sustainable platform
Media Release
For release: 12 November 2013
ANZ Barometer highlights need for sustainable platform to ride new ‘growth wave’
Scale and collaboration do matter - as do inspiration, planning and investment, firms say
New Zealand’s most in-depth business survey has highlighted the need for firms to gear up for a ‘growth wave’ in a way that also equips them for future economic cycles.
ANZ’s 2013 Privately-Owned Business Barometer highlights three things firms should focus on to build sustainable growth: scale and collaboration; inspiration and planning; and investment.
“The past few years have been tough for Kiwi businesses but there’s a wave of growth coming with the potential to propel New Zealand into a position that’s the envy of most developed countries,” says ANZ Managing Director, Commercial & Agri, Graham Turley.
“The question is: are we ready for it and how can we ensure that after riding this wave we’re better placed to ride out future peaks and troughs.
“Businesses have spotted the coming wave and their confidence is at a long-term high. But not all growth is good for the long term. This year’s survey highlights the challenge for businesses to look beyond the approaching wave and build a platform fit for the future and any turbulence it may bring.”
The ANZ Privately-Owned Business Barometer gives critical insights into a key sector of the economy. The results are widely used by businesses, as well as organisations working with the private sector and key decision-makers in government. Now in its seventh year, it questioned owners of businesses of all sizes, from all sectors and all parts of the country on the issues affecting them and their views on the future.
Key findings of the ANZ Privately-Owned Business Barometer 2013
78% of
respondents are slightly to very optimistic about their
business over the next year (compared with 65% in 2012)
88% of commercial businesses expect earnings growth in the
next year
One in four firms turning over more than $2
million a year are looking to target new regions or markets;
18% plan to invest in new plant and equipment
16% of
commercial respondents are looking at mergers/acquisitions
to drive business performance; 11% are looking at
partnerships or joint ventures
45% of businesses say
they follow best practice with planning and decision-making;
23% involve their staff in goal setting
One in 12
firms turning over more than $2 million is looking at
research and development to drive business performance
56% of firms find market research and financial analysis
tools helpful when making big decisions; one in four would
like advice on how to lift productivity
The survey shows that confidence in the New Zealand economy is up sharply, with 68% of business owners optimistic, compared with 44% in 2012.
Worries over getting paid, tight inventory and cost control, and a lack of capital for funding are receding as priority issues, though maintaining debtor control and smart inventory management will underpin a secure foundation for expansion.
Full release attached
<<121113 ANZ Barometer highlights need for sustainable platform to ride new growth wave.pdf>>
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