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New Zealand beat Aussies in attracting business confidence

November 2013, 19
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Call it a “lucky country” or not, the Tasman side is acting as the stronger magnet compared to Australia when it comes to businesses, noticing a major decline in the number of kiwis migrating to Australia the scope for setting up shop at home is like never before. This was also backed by statistical figures from a recent report published by Grant Thornton (IBR) International Business Report. The number for skilled workers migrating to NZ has also shot up.
 
The report shows that the confidence businesses have in NZ compared to Australia are triple now than how it was earlier, while the confidence percentage for NZ stands at 64%, Australian side lags far behind at 23%. The study conducted included 45 countries and NZ comes in the top ten most confident nations to do business at 6th behind Philippines (96%), UAE (84%), Denmark (76%), UK (76%) and Peru (74%), while Australia ranks 26th in position.
 
There is a huge gap developing and widening consistently between the two countries when it comes to business confidence, said Simon Carey, one of the partner at Grant Thornton. According to the statistics, a seasonally adjusted loss of only 1,100 migrants to Australia was observed in Aug 2013 and this was recorded as the smallest since Nov 2009, where the net loss was recorded at 1,100 as well. He also emphasized that, when it came to employment intentions, NZ ranked 9th in the world with 42% while compared to Australian 23rd ranking and 21%.
 
On a larger scale, the Tasman side's 3rd quarter figures strengthened with respect to the rest of the globe, especially in areas such as profitability by ranking 3rd out of all the countries, whereas Australia was ranked 23rd. When it comes to economic uncertainty poll as well, NZ is safe and ranked at the bottom end with just 14%, this not only reflects that the businesses in NZ are more than certain about the country's stability compared to the rest of the world. In this polls Australia comes somewhere around 20th position at 42%.
 
He also said that, a strong Australian economy is good for the kiwis as they are NZ's biggest trading partner and even though the net loss in migration to Australia will increase in such scenarios, both the countries will be mutually benefitted from trade. Out of the 45 countries surveyed by IBR, one country surprised the whole world with its business optimism levels shooting up like never before, there was a 42% surge in Q3 compared to Q2 from United Kingdom. This is good news for NZ exporters as the figures are expected to be stable for a while, thereby increasing confidence in the NZ export sector. When it comes to export confidence, New Zealand is ranked 9th (28%) compared to Australia's 33rd.
 
The continued demand of skilled workers in New Zealand also attracts many foreign skilled migrants to NZ. The number of migration consultancies for New Zealand migrants are also monitored by NZ immigration to ensure that only specialized workers pass through the gates. 

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