Selwyn businesses hopeful of positive end to the year
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Last modified: 27 Sep 2022 10:17am
New survey results show Selwyn businesses are expecting to increase jobs, investment and profitability, after a tough first six
months to the year.
The results come from the Selwyn Business Survey, a six-monthly Council-organised initiative to take the temperature of
Results from the most recent August survey show local businesses are hopeful of profits recovering over the next six months.
Eighteen per cent of businesses were expecting their profits to increase over the next six months, while 11 per cent reported an
intention to hire more staff.
The survey also revealed Selwyn businesses are feeling more confident than the national average to increase investment over the
next six months, with 18 per cent of businesses planning to invest more, compared with -2.6 per cent of businesses nationally.
The impacts of the rising costs nationally and internationally were evident, with more than four-in-five businesses reporting increased costs. Forty-four per cent of businesses said they had increased their prices in the past six months, in line with these rises, and similar numbers expect to increase prices again in the coming months.
Council Group Manager Community Services and Facilities Denise Kidd says it was good to see the positive outlook despite the economic challenges. “It’s particularly pleasing to see businesses reporting that they’re planning to hire and invest over the next six months. It shows the underlying strength of the Selwyn economy that even in toughert imes our businesses are generally holding up well.”