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

 

Hutt Valley business confidence positive


Hutt Valley Chamber of Commerce
Media Release

26 September 2016

Hutt Valley business confidence positive

Hutt Valley business confidence in New Zealand’s economy has significantly improved according to the latest Hutt Valley Chamber of Commerce Business Confidence Survey, sponsored by Red Hot Business Coaching.

Expectations and confidence have improved this quarter compared to the last survey in June. Respondents are anticipating positive activity with a net 49.5% expecting the situation to improve over the next 6 months, compared to a net 15% in June and net 21% in March. This is also an improvement on this time last year, where businesses expected New Zealand’s economy to decline a net 2%.

Overall figures show that 53% of respondents expect the national business situation to improve, 43% expect it to remain the same, and 4% expect it to deteriorate.

Hutt Valley business confidence in their own business also remains stable. A net 55% of business respondents said they expected their own business situation to improve over the next 6 months, compared to a net 47% in June and 52% in March. Of all respondents, 60% expect an improvement, 35% expect things to stay the same and 5% expect a decline in their own situation.

The survey was conducted in September over a two-week period and attracted 103 respondents.

Expectations around business investment remain positive, consistent with last quarter. A net 9% of businesses expect to invest more in buildings over the next 12 months, compared to a net 6% in June. Investment in plant and machinery has declined slightly from last quarter, with a net 11% of businesses expect to invest in the next 12 months, compared to a net 17% in June.

Business hiring expectations have improved with a net 15% expecting to hire both full-time and part-time staff over the next three months.

According to respondents, the last 3 months have seen positive sales and profitability results. Increased profits were recorded by 26% of respondents, with 51% seeing similar profits to June. Sales in New Zealand were positive over the past 3 months, with 37% of respondents noting an increase in New Zealand sales, although exports were not as positive with only 8% of respondents noting an increase in exports sales.

Lack of demand continues to be the prevalent factor limiting business expansion, and respondents highlighted the continuous difficulty in finding skilled employees. Of respondents, finding skilled staff has become slightly harder, with 31% saying it was harder to find skilled staff compared to 3 months ago and only 4% are finding it easier than 3 months ago. This compares with 27% finding it harder, and 2% finding it easier in June.

Chief Executive of the Hutt Valley Chamber of Commerce, Mark Futter, said “the results show a stable economic environment. Expectations for the next few months are confident, and likely reflect the strong results seen over the past 3 months.”

“Hutt Valley’s diverse business environment is overall performing well and feeling optimistic.”

“With strong performance comes a greater need for skilled talent. It is a concern that our businesses are still struggling to connect with the skilled staff.”

ENDS

Note: Net percentage is the balance of sentiment, positive minus negative responses.

Business Sector and Size

The charts below give an indication of the participants’ business sector and size by employees.


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

NZTA: Major New Zealand Upgrade Programme Projects Go To Tender

Two major New Zealand Upgrade Programme projects are beginning tenders for construction. The New Zealand Upgrade Programme is a $6.8 billion investment to get our cities moving, to save lives and boost productivity in growth areas. The first Auckland ... More>>

Reserve Bank: RBNZ Seeks To Preserve Benefits Of Cash

The Reserve Bank – Te Pūtea Matua is taking on a new role of steward of the cash system “to preserve the benefits of cash for all who need them”, Assistant Governor Christian Hawkesby told the Royal Numismatics Society of New Zealand annual conference ... More>>

ALSO:

Economy: Double-Dip Recession Next Year, But Housing Rolls On

New Zealand's economy is expected to slip back into recession early next year as delayed job losses, falling consumer spending, and the absence of international tourists bites into growth. More>>

ALSO:

Microsoft New Zealand: Microsoft Expands “Highway To A Hundred Unicorns” Initiative To Support Startups In Asia Pacific

New Zealand, 14 October 2020 – Today Microsoft for Startups launches the Highway to a Hundred Unicorns initiative in Asia Pacific to strengthen the region’s startup ecosystem. This follows the initiative’s success in India, where 56 startups were ... More>>

Fonterra: Farmers Taking Another Step Towards New Zealand’s Low Emissions Food Production

They’re hot off the press and intended to help take the heat out of climate change. Fonterra farmers are already among the world’s most sustainable producers of milk and now have an additional tool in their sustainability toolbox. Over the last few ... More>>

ALSO:

Electricity: New Zealand Remains In Top 10 For Energy Balance

The World Energy Council’s Energy Trilemma Index has become part of the energy dialogue both globally and in New Zealand. The Index illustrates the need for countries to balance energy security, energy equity and environmental sustainability. New Zealand ... More>>

ALSO:


Courts: Businessman Eric Watson Sentenced To A Four-Month Jail Term

New Zealand businessman Eric Watson has been sentenced to a four-month jail term in the UK for contempt of court, TVNZ reports. More>>

OECD: Area Employment Rate Falls By 4.0 Percentage Points, To 64.6% In Second Quarter Of 2020

The OECD area employment rate – the share of the working-age population with jobs – fell by 4.0 percentage points, to 64.6%, in the second quarter of 2020, its lowest level since the fourth quarter of 2010. Across the OECD area, 560 million persons ... More>>

Spark: Turns On 5G In Auckland And Offers A Glimpse Into The Future Of Smart Cities

Spark turned on 5G in downtown Auckland today and has partnered with Auckland Transport (AT) to showcase some of the latest in IoT (Internet of Things) technology and demonstrate what the future could look like for Auckland’s CBD with the power of 5G. 5G is ... More>>

Stats NZ: Monthly Migration Remains Low

Since the border closed in late-March 2020, net migration has averaged about 300 a month, Stats NZ said today. In the five months from April to August 2020, overall net migration was provisionally estimated at 1,700. This was made up of a net gain ... More>>

University of Canterbury: Proglacial Lakes Are Accelerating Glacier Ice Loss

Lake Tasman, New Zealand | 2016 | Photo: Dr Jenna Sutherland Meltwater lakes that form at glacier margins cause ice to recede much further and faster compared to glaciers that terminate on land, according to a new study. But the effects of these glacial ... More>>

ALSO:

Dairy: Fonterra Sells China Farms

Fonterra has agreed to sell its China farms for a total of $555 million (RMB 2.5 billion*1), after successfully developing the farms alongside local partners. Inner Mongolia Natural Dairy Co., Ltd, a subsidiary of China Youran Dairy Group Limited ... More>>

ALSO: