Nelson Tasman Insights Business Survey Initial Results Released

Nelson Tasman Insights Business Survey initial results released, showing business confidence in the region, but rising costs are the biggest concern.

The Nelson Tasman Insights Business Survey initial results have been released today, showing Nelson Tasman businesses are more confident than the national average.

The annual Insights Business Survey is a partnership between the Nelson Regional Development Agency, Nelson Tasman Chamber of Commerce and NBS. The survey collected information from over 400 local businesses on current and emerging issues. Businesses large and small from the full range of industries completed the survey and the information gathered supplements national-level statistics, providing a deeper understanding of the local business environment.

Fiona Wilson, CE of NRDA says “One of the key findings is that businesses feel more confident about our regional economy than they do about the national economy. 21% of respondents expect the regional economy to improve in the next 12 months compared to only 15% for the nation. By comparison, the recent national NZIER Quarterly Survey of Business Opinion reported a net 59% of businesses were expecting a deterioration in the national economy.

“Respondents are even more confident about their own business prospects with 31% expecting improvements and only 13% expecting a deterioration. It is notable that nearly half of businesses said they were actively working on research and development or innovation projects, which we know are the key to improving productivity.

“There is a wealth of information in the responses and we will now take time to fully analyse the results and insights. This will include understanding challenges and opportunities which businesses have identified, identifying actions for us to follow-up and/ or refer on behalf of businesses to local and central government. Businesses have responded on a wide range of areas including priorities to support business growth. We will also be looking at the results by sector and by business location, and will supplement the information provided by other data sources available to NRDA. This will be shared with the community, including all businesses who participated.” says Fiona.

Ali Boswijk, CE of the Chamber of Commerce says “it is no surprise that rising input costs was the biggest issue for local businesses in the last 12 months and continues to be their most pressing concern going forward. This reinforces what we are hearing at a national level and shows our region is not immune to national and international pressures.”

Howie Timms, General Manager – Commercial, NBS says “Over 400 local businesses, big and small, from a range of industries completed the survey. I want to thank them for taking the time to share their invaluable insights with us. The final findings will assist our business leaders, decision makers, and organisations to better understand and share the challenges, perceptions, and opinions of our local business community.”

The 2023 Insights Business Survey is now closed.

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