Mike Bain/cvnznews.com
Canterbury businesses are holding firm despite global instability and softening sentiment reported in parts of the country, according to Business Canterbury’s latest Quarterly Business Confidence Survey.
The survey, which closed in early June, shows confidence has dipped slightly following renewed conflict in the Middle East, but the pullback is modest compared with the strong optimism recorded in February. Business Canterbury Chief Executive Leeann Watson says the region’s business community remains grounded, forward‑looking and far from rattled.
“The results reflect a business community that is realistic about the challenges ahead, but far from retreating,” Watson says.
Around 80 percent of Canterbury businesses remain confident in their ability to navigate future shocks — a level Watson says may be a defining feature of the region’s resilience, particularly when compared with reports of declining confidence in some other parts of New Zealand.
Just over half of respondents still expect the Canterbury economy to strengthen over the next 12 months. Confidence drops when looking nationally, with fewer than one‑third expecting improvement in the wider New Zealand economy. Even so, 60 percent expect stronger financial performance in their own businesses over the coming year.
Despite geopolitical tensions, around 70 percent of businesses expect any impact on profitability to remain within a 10 percent range for the current financial year.
Hiring and investment intentions have softened only slightly. A small decline was recorded in the number of businesses planning to take on new staff or invest in property, plant or equipment — but the overall trend remains positive.
“This survey is pretty clear evidence that despite what is going on in the world, businesses are continuing to invest, continuing to plan, and continuing to look for opportunities,” Watson says.
She warns the next few months will be critical as global uncertainty continues to filter through supply chains, interest rates and consumer behaviour. “Businesses will be watching closely to see how things unfold.”
