Business Confidence Fails As Level 2 Hopes Fade

Business confidence has taken a knock with over 60 per cent of Auckland businesses, looking at a more gloomy six months as hopes of a return to Level 2 diminish by the day.

“Our latest business survey has just 10% of businesses believing the economy will be better and a massive 67% saying they believe it will be worse for them,” says Auckland Business Chamber CEO Michael Barnett. The survey also showed that under a more permissive Level 2, 41 per cent of businesses could climb to full output and another 47 per cent to 50-75 per cent of operations, a lifesaver for the enterprises and for sustaining jobs, skills and revenue to pay overheads and debt.

“The results are a stark reminder of the damage inflicted to financial, health and mental wellbeing under Level 3 conditions and signal what can be done under Level 2 conditions to get on with improving lives, livelihoods and a better future for the good of all.”

The survey, which saw 90 per cent of respondents support a no jab no job regime but needs to be enabled by government, showed that under a more permissive Level 2, 41 per cent of businesses could climb to full output and another 47 per cent to 50-75 per cent of operations, a lifesaver for the enterprises and for sustaining jobs, skills and revenue to pay overheads and debt.

“Level 2 will be about recovery of the fittest and at this point only 27 per cent of respondents indicated that they would be hiring,” Mr Barnett said.

“The survey results were highly critical of the perceived lack of government, landlord and bank financial support to get business through the hardships and stresses of trying to stay afloat in an environment where they have limited or no revenue coming in and were not part of the decision making process so had no clarity or certainty of what the next policy would be,” he said.

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