Businesses are more committed to providing more in-house digital training, according to a new survey (file image). Photo: RNZ / Cole Eastham-Farrelly
Business optimism appears to be picking up, with a new study pointing to a willingness to increase investment in innovation and digital skills.
The latest Shaping Business Study from telecommunications company 2degrees shows the percentage of business leaders who think their business was thriving increased to 18 percent this year from 17 percent in 2023, with more expecting to see revenue growth.
2degrees chief business officer Andrew Fairgray said the survey of more than 700 business decision-makers also indicated an increased focus on training to help speed up the transition to digital-first and were committed to providing more in-house training.
"The businesses managing to thrive are those that are finding innovative ways to increase productivity, rethinking cost savings and investing in digital skills," he said.
The survey also indicated businesses were seeing their margins squeezed, though less than half (48 percent) of decision-makers were planning to increase their prices in the next year.
"While inflationary pressures are easing, the vast majority of businesses continue to see operating costs increase and are looking to find savings in creative ways," Fairgray said, adding that 80 percent of business decision-makers said their running costs had increased in the past 12 months.
Fairgray said businesses were looking at how technology could improve productivity and profitability.
"It's very easy to pile up lots of shiny tools, but in this environment, it's never been more important to take a step back and make sure that they are delivering," he said.
"Technology should boost what your business is already doing, and improve the results it gets."
Businesses were concerned about a skills shortage, with 37 percent of business leaders introducing flexible working options as a means to retain and attract skilled talent.
