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Big wheels of change keep on turning
3 September 2015
Big wheels of change keep on turning
New Zealand’s $6 billion road transport sector is undergoing significant change driven by new technology and increasing compliance requirements, new research by ANZ and UDC Finance has found.
The annual ANZ Privately Owned Business Barometer survey of 106 road transport businesses found an industry that was upbeat about the future, which led the way in use of new technology, and recognised the need for participants to continually their business skills and sharpen their focus on profit.
“The road transport sector plays a vital role in the New Zealand economy, moving around 50 tonnes of freight for every person in New Zealand each year,” said Wayne Percival, CEO of UDC Finance.
Key
findings
Just 29% of road transport respondents in the
Barometer said they were planning to invest in training and
development, compared with 51% of all respondents.
Almost
20% of road transport respondents felt that being proactive
about environmental considerations was good for their
business.
26% had a turnover under $250,000, 41% had
turnover between $250,000 and $2 million, and 33% had
turnover of more than $2 million.
“Continuing growth in
Auckland and Christchurch, the growth of key sectors such as
supermarkets and positive economic indicators, such as New
Zealand’s exposure to Asian growth, are keeping levels of
confidence high.
“While the level of long-term optimism
is heartening, the sector is not without its issues. Chief
among these is the need to bring a new generation of young
people into the industry, and the need for more support for
the many smaller operators and owner drivers to improve
business management skills.
"In an industry where
customers are keenly focused on price it’s important to
demonstrate the value that they deliver to ensure pricing
across the sector is sustainable"
ends
ANZ Bank New Zealand Limited
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