Auckland businesses say a 'perfect storm' of wage pressures, skill shortages and increasing overheads is putting a strain on them.

Auckland Business Chamber chief executive Michael Barnett said the problems had intensified over the past three months.

Wage pressures, skill shortages and increasing overheads were a perfect storm that was straining Auckland businesses, he said.

"The skill pressure, while it's only one of those, you know that could be mitigated by a change in the immigration position that the government is taking."

Firms were struggling with supply chain issues, plus high prices for fuel, electricity, rent and rates and these pressures had ramped up over the past three months, Barnett said.

Small and medium-sized enterprises were having to raise prices to counter rising overhead and wage costs, he said.

The chamber's latest survey has shown business confidence crashing: just 7 percent of respondents believe the situation will improve in the next six months, Barnett said.


https://www.rnz.co.nz/news/national/468473/auckland-businesses-under-strain-due-to-wage-pressures-and-skill-shortages