Confidence is high among our business owners as they come to the end of the summer rested and ready to tackle the significant challenges ahead.
Our Summer Pulse Check – full results here – told us that business owners were rested and recharged but there is growing unease over rising input prices, port disruptions and employment issues.
Confidence is extremely high but there’s no illusion concerning what’s ahead. Results showed a rise in problems associated with working capital, including more late payers, input price rises and disrupted supply chains.
Delays at the port are a major cause of stress along with employment issues and lack of sales but business owners remain buoyant, with plans and ideas ready to take them forward.
Businesses have steeled themselves to constantly expect the unexpected, adapting and changing their business operations to manage the shifting sands of COVID19 alert level changes.
We were a little surprised that confidence remains so high as people were responding to the Pulse Check as Auckland went to Alert Level Three but having survived 2020 and with the vaccination programme about to start perhaps the confidence of Kiwi business owners comes from knowing they are resilient and can adapt to most challenges that come their way.
Confidence boosters included skilled Kiwis coming home as the struggle to fill jobs continues and high on the wish list are more customers and better cash flow. Steps to reduce costs appears to have helped to ease the pressure.
When asked what would help get through 2021, 43% of business owners said a chat with business owners like themselves or some specialist advice would do the job – and that, of course, is what we are here to do. We exist to support small to medium businesses and their owners through the calm and the storms and the insights you share through the Pulse Check allows us to make sure that support and advice is relevant and timely for you and your business. Thank you for taking part – our next check will be in the Autumn – and in the meantime, remember we’re here to help.
The Alternative Board conducted the Summer Pulse Check with 266 members and associates between February 9 – February 16 2021 with a confidence level of 90% and a 5% margin of error.