7 December 2021
Business Confidence Survey
The Southland Business Chamber has conducted it’s second Southland Business Confidence survey, for the quarter ending November 2021.
Your business experience and insights are essential to capture and include in the region’s assessment of our current business climate. The data and results we collect will provide vital information about the current economic climate in Southland, and helps us advocate on your behalf.
We will survey members during February, May, August and November each year. The online Southland Business Confidence survey is quick to complete and we will keep the same set of questions to track any trends.
- Business confidence overall is down with 14% expecting that the general business situation in New Zealand will improve in the next 6 months, and 14% expecting it will stay the same. The majority of 72% consider the general business situation in NZ will deteriorate.
- The outlook on the respondents own businesses has come up with 29% of respondents expecting an improvement in their business up from 27% last quarter. 29% believe business will stay the same during the next 6 months, 29% believe business will deteriorate while 13% are unsure.
- Businesses are struggling to find skilled/specialist staff, with 86% finding it harder to find skilled/specialist staff than three months ago.
- Covid-19 level changes and labour are the two most common limiting factor for businesses to expand their activities at 29% equally. This is followed by finance at 14% of respondents.
- Average costs is the major concern for businesses with 100% of respondents saying it has gone up over the past three months and 86% believing it will continue to go up over the quarter. Labour turnover is also an area for concern for 57% of respondents, and total hours works and average selling prices are areas for concern.
- The biggest effects on profit over the last six months is staff costs and supply chain according to the respondents, with 43% equally. This followed by 29% of respondents who stated that COVID-19 boarder restrictions and COVID-19 level changes had the biggest effect on their profit.
- COVID-19 level changes is the main area of concern for the next six months as having the biggest effect on profit with 57% of respondents choosing this. Other areas of concern included staff costs, and supply chain with 29%.
Click on the links below to download Southland Business Confidence Survey’s