With most economic indicators seemingly heading in the right direction, there’s a welcome air of optimism around as the gloomy economic outlook which has dominated the news for so long has taken a turn for the better.
Following a recent reduction in the Official Cash Rate (OCR) by the Reserve Bank of New Zealand (RBNZ), a number of banks have started to slowly reduce interest rates and the RBNZ has confirmed that by the end of the year, it will have inflation under control and back to its target level of 1 – 3 per cent.
Whilst this is all positive news, it will still be some time before many businesses feel the benefit of these and other predicted positive changes, which will hopefully enable consumers to increase their current low levels of spending.
The harsh reality is that many businesses are still doing it tough, with some desperate for the current feel-good factor to become a reality. This situation being illustrated by the number of business liquidations recorded in the quarter to June 2024 increasing by 36.1 per cent year on year and by 101.6 per cent compared to 2022.
Local businesses still need your custom to survive, as without it, many will not be able to achieve the recently quoted mantra of ‘survive to 25’. A thriving local business community is essential, so once again I ask that you please continue to offer your support by shopping locally and utilising locally available services at every opportunity.
Business North Harbour Staff Contacts
Kevin O’Leary – General Manager
Bernadette Roberts – Marketing & Events Manager
Sandra Craze – Transport Projects
Dave Loader – Crime Prevention Specialist
Kate Thorpe – Office Manager
Business North Harbour Office
Telephone: 09 968 2222
Address: Level 1, 322 Rosedale Road, Rosedale
Website : www.businessnh.org.nz
