The report encourages people to keep actively looking for opportunities
New figures from independent economist Tony Alexander have revealed that amidst news of things going wrong and things that could could go wrong, good things still do happen and opportunities exist, whether it may from a personal, business, or personal point of view.
In his latest monthly Spending Plans Survey, Alexander (pictured above) invited businesspeople and investors to share their views on what they think was going right for them and where they see opportunities moving forward.
Of 652 responses received, the top answers were that their “business was good in terms of revenue flows and profitability” (27 mentions), “investment returns in terms of price movements are expected to improve” (25), “my wage/salary has gone up” (23), and “I have high job security and there are plenty of job opportunities abound (23).”
There were also those who mentioned the following:
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The big declines in house prices mean we’ll be able to purchase a home we can afford (14) |
My investment portfolio returns have improved recently (7) |
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Returns are good on bank deposits and fixed interest securities (13) |
I’ve used the economic shock to rebrand, upgrade my business, and/or purchase a new business (7) |
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It’s good to be alive, healthy, with family, in or approaching retirement etc. (11) |
Rents on my investment properties are rising well (6) |
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I anticipate bargains appearing because of the challenging times (8) |
People have learnt good financial lessons and resilience from the challenging economic environment (6) |
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It looks like mortgage rates have peaked and falls are going to happen (8) |
Staff and tradies especially are becoming more available (5) |
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The economy is going to get better (8) |
The surge in migration is going to provide an economic stimulus (5) |
Other responses included improving tourism, working from home, got a new job, building costs are falling, kids are doing well, real estate business is improving, the carbon emissions reduction industry outlook is good, some savings have been built up, commercial property yields have improved, I’m off traveling, and we locked in at a long-term fixed mortgage rate a couple of years ago.
Alexander also included the same question in his monthly Business Survey, and out of the total 277 responses received, nearly 120 provided insights into things on the positive side.
“My business is growing” was the top response for 28 of the respondents, while others mentioned the following:
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Good opportunities exist in my sector (18) |
Good operators are rising and will rise to the top as less good firms get weeded out (8) |
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During these recent trying times I have received good support within my firm, from family, the community etc. (8) |
We are resilient after three hard years and have restructured to cut costs, improve focus, and get ready for growth and opportunities (8) |
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I expect things to start getting better, especially through 2024 (8) |
Work/life balance is much better now (7)
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Fewer than five respondents also noted the following:
- Global and local supply chains are improving
- Offshore things are looking better
- Weakness in customer buying has provided space to focus on R&D, planning, and delivering better service
- The interest rate outlook is improving
- We have better control now of our costs
- Labour shortages have eased a bit
- New Zealand is a good place to live
- We have improved our focus on quality
- Cyclone recovery work will be good for my firm
- There is an increasing focus on the environment now
What’s going right for you? Share your thoughts with us in the comments section below.
