Christchurch businesses show resilience amid national gloom - 2degrees Shaping Business Study

Christchurch businesses remain the most upbeat in the face of economic uncertainty, according to a new survey.

The 2degrees Shaping Business Study showed the region was outperforming other major centres across a range of measures including confidence, innovation, productivity and future growth expectations.

Two-thirds (66%) of Christchurch businesses said they expect revenue to grow over the next 12 months, the highest of any major city surveyed.

Almost a third (30%) of businesses described themselves as “thriving”, compared with a national average of 20%.

Just 15% of those surveyed in the region said they were “surviving”, compared with 27% nationally.

Meanwhile, 49% of Christchurch businesses surveyed said they had introduced a new product or service in the last year, compared with 38% nationally.

The report suggested businesses were investing in their future rather than simply managing the present.

Just 2% reported being less productive than they were a year ago, compared with 12% nationally.

However, overall, the research showed an increasing number of New Zealand businesses appear to be giving up on a return to “normal”.

Among businesses feeling more optimistic than last year, 21% cited being back to normal or better after the Covid pandemic as a reason, down from 36% in last year’s survey.

2degrees CEO Mark Callander said a clear theme he took out of the survey was that businesses were no longer waiting for a rebound.

“No one’s waiting for green shoots to emerge any more.

“We were kind of joking [earlier] about ‘thrive to 25’, you know that seems like two years ago.”