Big wheels of change keep on turning

Thursday, 3 September 2015, 10:24 am
Press Release: ANZ Bank

3 September 2015

Big wheels of change keep on turning

New Zealand’s $6 billion road transport sector is undergoing significant change driven by new technology and increasing compliance requirements, new research by ANZ and UDC Finance has found.

The annual ANZ Privately Owned Business Barometer survey of 106 road transport businesses found an industry that was upbeat about the future, which led the way in use of new technology, and recognised the need for participants to continually their business skills and sharpen their focus on profit.

“The road transport sector plays a vital role in the New Zealand economy, moving around 50 tonnes of freight for every person in New Zealand each year,” said Wayne Percival, CEO of UDC Finance.

Key findings
Just 29% of road transport respondents in the Barometer said they were planning to invest in training and development, compared with 51% of all respondents.
Almost 20% of road transport respondents felt that being proactive about environmental considerations was good for their business.
26% had a turnover under $250,000, 41% had turnover between $250,000 and $2 million, and 33% had turnover of more than $2 million.

“Continuing growth in Auckland and Christchurch, the growth of key sectors such as supermarkets and positive economic indicators, such as New Zealand’s exposure to Asian growth, are keeping levels of confidence high.
“While the level of long-term optimism is heartening, the sector is not without its issues. Chief among these is the need to bring a new generation of young people into the industry, and the need for more support for the many smaller operators and owner drivers to improve business management skills.
"In an industry where customers are keenly focused on price it’s important to demonstrate the value that they deliver to ensure pricing across the sector is sustainable"

ends

© Scoop Media

ANZ Bank New Zealand Limited

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