Economic downturns

Why do Canterbury businesses think differently during an economic downturn?

Rampant inflation, combined with a barrage of legislation that has added additional costs and compliance for business, continual supply chain disruptions, and a tight labour market, have all combined to create an environment that is exceedingly challenging for business.

Leeann Watson, Canterbury Employers’ Chamber of Commerce | Chief Executive


Despite that, Canterbury is expected to emerge as one of strongest performing regions in 2023.
Why? It comes down to resilient optimism.

Because we have been through so much, we are better prepared, more resilient, agile, and decisive, with the unique mindset that says ‘now is the time to step on the gas’.


Canterbury businesses know how to capitalise on uncertainty. They know what smart cuts and wise reinvestments look like.
They realise there is truth in the old adage that ‘you have to spend money to make money’.
We have also seen – and continue to see – symbiotic recession-proofing relationships between businesses and their customers, as well as a real focus on removing waste and inefficiencies in everyday processes.

After all, anyone can race well when the racetrack is dry. It’s those with more experience who can create strategic distance and make greater gains by overtaking in the rain.

As motor racing legend Ayrton Senna once said, “You cannot overtake 15 cars in sunny weather… but you can when it’s raining.”

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