Encouraging signs for business confidence

When asked to name the top three issues impacting negatively on their business, the SME responses identified fuel tax as one issue.
When asked to name the top three issues impacting negatively on their business, the SME responses identified fuel tax as one issue.

Auckland’s SME (Small and Medium Enterprise) sector displayed a changing view of business confidence in Auckland Chamber’s latest quarterly survey.

“Confidence amongst Auckland business showed a 10 per cent improvement on last quarter,” said Chamber CEO Michael Barnett.

The survey of more than 700 respondents recorded 48 per cent of respondents expecting conditions to deteriorate over the next six months compared to 54 per cent from the previous survey.

“This in part reflects the move from winter into summer and the start of the holiday season, but it is a positive,” said Barnett.

“Despite this, the survey reveals elements of uncertainty that SMEs are having within a changing business environment.”

The survey also clearly illustrated a frustration for businesses trying to employ talent – with 50% reporting difficulty finding skilled and specialist employees.

When asked to name the top three issues impacting negatively on their business the responses identified: tax increases (e.g. fuel tax), traffic congestion and labour laws.

The survey also asked businesses if they had increased prices for their goods or services as a result of increased fuel prices.

Almost 40 per cent indicated that they had, with the balance of businesses indicating they were yet to react.