The Times is partnering with members of the local business community to give them a platform to communicate with our readers about matters of interest. Here’s the latest column from Business East Tamaki general manager Ruth White.
It’s a challenging time for our business community, and I’m hearing more and more stories of struggles, and in some case, business closures.
The economic conditions we face are expected to remain tough, particularly in the near term, as we work to rebalance and adjust to the current financial climate.
Reduced household spending is driving a long-term slowdown in consumer activity – a trend that’s not unique to New Zealand but is being felt globally.
Whilst this might sound like gloom and doom, I believe there’s some light at the end of the tunnel.
Interest rates are expected to ease, and domestic activity should pick up over the second half of 2024 and into 2025. This recovery can’t come soon enough for our community.
At Business East Tamaki, we’re committed to supporting businesses through these trying times.
Whether it’s by facilitating connections through networking events, offering subsidised training, or providing insights from experts in our quarterly magazine, we’re here to help.
Recently, we subsidised a fantastic Money Management 101 Workshop, presented by the team at Upskills.
They covered the basics of money management, tailored to those with limited financial literacy, and covering topics such as interest rates, avoiding scams and credit card management.
I’m particularly grateful to the business owners who supported their staff in taking the time to upskill.
We’re all in this together and Business East Tamaki is hear to support our business community every step of the way.
