Magazine article New Zealand Management

INTOUCH: Thin Order Books A Big Constraint

Magazine article New Zealand Management

INTOUCH: Thin Order Books A Big Constraint

Article excerpt

A shortage of orders or reduced demand has rocketed up the scale as the main constraint that New ZealandCOs privately owned businesses see against their ability to expand, according to the latest International Business Report survey by accounting and business advisory firm Grant Thornton.

The order book situation has replaced traditional concerns such as red tape and the availability of skilled workers as the chief worry. But surprisingly to some, these two topics continue to outrank the cost of finance and the shortage of working capital or long-term finance as barriers.

Internationally, New Zealand is in the top 10 when it comes to shortage of orders being identified as a constraint against expansion of business.

C[pounds sterling]This result sets a gloomy start to a very challenging year and unfortunately looks like being the precursor to more redundancies and business closures,C[yen] said Grant Thornton New Zealand spokesman Peter Sherwin.

The international Grant Thornton survey shows that 53 percent of New Zealand businesses questioned rated shortage of orders or reduced demand at four or five on a scale of one to five as a constraint on their expansion. …

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