Source: Canterbury Employers Chamber of Commerce
The Canterbury Employers’ Chamber of Commerce has today released its findings from their Quarterly Canterbury Business Survey (QCBS).
“Compared to the last quarter, businesses have increased their expectation of turbulent economic conditions in the coming year,” Chief Executive of Canterbury Employers’ Chamber of Commerce, Leeann Watson says.
“This is unsurprising, given the predominant issues of ongoing labour market shortages, supply chain constraints and the current state of economy that continue to have consequences for many businesses within our region.”
Labour market issues predominate.
“Labour market shortages continue to wreak havoc,” says Watson.
“Two-thirds of businesses in Canterbury find it more difficult to acquire staff compared to this time last year, and half of businesses within the region find it more difficult to retain existing staff.
“Businesses are responding to labour market constraints by investing in their current workforce, rethinking traditional roles, and where possible, investing in automation.
“However, access to capital for this type of investment remains a barrier to investment for many businesses and has been exacerbated by rising interest rates and rampant inflation.
Government not doing enough.
“The majority of businesses are unimpressed with the Government’s management of the economy, with nearly half of respondents holding the view that it is substantially worse compared to a year ago.
“When asked about labour market shortages, a whopping 9 out of 10 businesses surveyed do not think the Government is doing enough to address the labour challenges that businesses are facing.
“60% of businesses surveyed think the immigration changes implemented by the Government so far have made no difference whatsoever.
“When considering all activity in the Beehive, including the economy, only one out of ten businesses surveyed believe the Government is heading in the right direction.”