News Round Up

The recession re-evaluated, entrepreneurship celebrated, SME owner optimism and sustainability awards are the focus of the latest news round-up from The Icehouse. 
 

NewstalkZB reports that New Zealand is no longer in recession. ‘The economy grew 0.9 % in the second quarter, lifting the country out of recession and exceeding expectations. 

In fact, based on revisions to earlier numbers, the economy may not have been in a technical recession at all. GDP rose 3.2 per cent in the year ended June 2023.’  
 
NewstalkZB goes further, stating that higher dairy, forestry, and meat exports helped drive up the numbers. With so much noise around how the next 6-18 months will look for the NZ economy, many business owners may be able to plan more confidently in the months ahead.  
 
The Icehouse is thrilled to see some familiar names among the category winners in the 2023 EY Entrepreneur Of The Year New Zealand competition. With a demonstratable move towards socially conscious, “better” businesses, it’s incredible to see our alumni doing so well – and that we are playing a part in serving the new breed of business owner. 

NZ Business references, “entrepreneurial powerhouse Carmen Vicelich, who has turned not just one, but three businesses into success stories.” Carmen is an Owner Manager Programme alumni whose businesses include Valocity, Data Insight, and Generate Zero. 

The article quotes Director of EY Entrepreneur Of The Year New Zealand, Jason Macgregor. “This year’s winners have a clear understanding of their purpose; they know exactly what it is they want to achieve and are committed to doing what it takes to get there. Their driving forces have evolved, and go beyond growing and being successful, to creating meaningful change for people, communities and the environment.” 

Elsewhere, NZ Business states ‘more than half of New Zealand’s small business owners say they are optimistic about the future, despite less than half reporting revenue increases over the past year, reports the latest Canstar Small Business survey.’  
 
More than 700 business owners participated in the survey, with 55% optimistic about the future (up from 49 percent last year) and 44% stating revenue had increased in the past 12 months.  
 
The article reports that the survey provides key insights into the mood of the nation’s small business sector. However, while the results are positive, it concludes: ‘Labour shortages continue to be a challenge, with 19 percent saying finding good employees is their biggest challenge. Finding funds for growth opportunities is the second biggest challenge, along with managing cashflow and increased competition.’  
 
NZ Business also focuses on the 2023 Sustainable Business Awards, Aotearoa’s pre-eminent sustainability awards.  

Once again, The Icehouse alumni are soaring. BLUNT, an OMP alumni from 2017, are shortlisted for the Going Circular Award and Fair Food + Farro Fresh (Farro are an OMP and OMX alumni from 2011 and 2021) have been shortlisted for the Outstanding Collaboration Award! Congratulations to both. 

From the food and beverage, education, health, energy and forestry industries right through to local government, social enterprises and individuals, the diverse range of backgrounds of the 76 finalists highlights that more businesses are putting sustainability issues at the top of the agenda and recognising it as an important lever for growth. 

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