I trust most of you had a well-deserved Christmas and New Year break and are looking forward to 2014. For once the economists and commentators are pretty much in agreement that 2014 will be a great year for the NZ economy and business. GDP is expected to be around 3.5% growth, driven by primary product exports and the construction sector, and business confidence is the highest in many years. Net migration is very much in positive territory and we have enjoyed record low interest rates for some years, although these are now increasing as inflation creeps up closer to 2%. The NZ dollar seems to have found its level of comfort against the US dollar, however our high exchange rate with Australia is a concern for some exporters.
The challenge for all businesses is how to take the best advantage of the buoyant economy this year and beyond. We are fortunate to have a very broad range of businesses in East Tamaki covering many sectors and it is this diversity which will ensure substantial growth and a major contribution to the Auckland and NZ economies over the next period. Construction, including civil, residential and commercial is expected to increase and remain at higher levels for at least 3 years and this along with other increased activity is feeding through to the economy in general with consumer confidence and spending on the increase.
At GETBA we have a very busy calendar for 2014. In addition to our regular programme of informative events and seminars, we are planning an EXPO for May. We are currently working on GETBA’s submissions to Auckland Council’s proposed Unitary Plan and Annual Plan, and will continue to lobby strongly on issues affecting local businesses to ensure that our members get “value for money”.
Our GETBA website is the central point where we keep you up to date with all these things and more, so please take the time to visit getba.org.nz on a regular basis.
A “stellar year for New Zealand” is how one respected commentator put it, and I trust that all GETBA members will find this to be the case. I can assure you that our team will be doing everything they can to make this happen.
Richard Poole