There were no real surprises in the budget, rather a steadying of the ship, with a couple of additional sweeteners for business in the form of R&D support and treatment of losses for start- up companies. Healthy GDP growth is predicted of the next 3 years and the achievement of an operating surplus after several years of government deficits shows that the economy is on the right track.
Many businesses in our East Tamaki business precinct are reporting growth, be it in the services sector, manufacturing or export. The construction industry is particularly active, especially in Auckland, driven by a shortage of houses. The services sector is also very active as people and businesses are spending again, with delayed projects now taking place.
We held our inaugural Business Connections Expo on 15 and 16 May, at Waipuna Conference Suites Highbrook and were delighted with the 70 exhibitor companies that took part. ‘Let’s talk local business’ was the theme and there was plenty of activity over the two days which included 10 free seminars in the adjacent ANZ building, on a range of topics from changes to health and safety legislation to ways to help your business succeed online, and other relevant topics.
All in all with the election later this year, our economy being in much better shape than our Aussie neighbours, and immigration at very high levels, we can look forward to a buoyant second half of the year.
Richard Poole