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Mid-sized New Zealand businesses move on from survival mode; road ahead may still be bumpy

Tuesday 9th March 2010

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New Zealand’s mid-range business sector is showing encouraging signs of increased activity as the economy emerges out of the recession, according to an ANZ survey.

“Last year’s survey showed business owners were doing the hard yards to make sure their business survived the downturn,” ANZ managing director, commercial New Zealand, Graham Turley said.

“With many now looking for an export-led recovery, this year’s survey also investigates the issues accompanying international expansion. We are definitely seeing businesses move out of survival mode and while they’re not rushing into decisions, our experience on the ground is that they are growing more confident around investment and growth plans.”

The ANZ Privately Owned Business Barometer, now in its fourth year, targets businesses with a $5 - $150 million turnover and explores their views on economic activity and plans for growth.

“There are still question marks over the pace of the recovery,” Turley said. “Weak credit growth domestically and globally, pressure on some countries to pay off their sovereign debt and structural changes suggest there may still be a bumpy ride ahead.”

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