The civil construction industry has been hammered over the past two years. How can business owners escape this trap?
The 2024 financial year has been characterised by significant challenges and an economy in recession, however, businesses are beginning to see glimmers of hope on the horizon.
Many Kiwi businesses eventually outgrow their systems and processes. Their financial, governance and management systems were a perfect fit when the business was smaller – but now, they’re hindering growth, not helping it.
The more you know about your business, the better your decision-making can be. That’s why we’re always surprised at how many businesses don’t produce consistent monthly reports. Periodic reporting checks the pulse of your business and gives you monthly updates on your key performance indicators.
Businesses will continue to experience persistent material and wage price inflation as they have over the past two years, ongoing supply frustrations set against the current backdrop of tightening monetary policy, rising interest rates, the cooling of property prices, and access to credit. Read more to find out how to protect your business on new projects and weather the current storm.