Survey shows difficulties in NZ business environment
New Zealand’s slide in the Global Competitiveness survey should be examined to see how our business environment could be improved, says Business NZ.
New Zealand has slipped to 18th place in the overall growth competitiveness ranking, down from 14th last year and from 3rd place eight years ago.
New Zealand is found to have ‘notable competitive disadvantages’ from high levels of government regulation and compliance costs, and rigid law on hiring and firing.
Restrictive labour regulations score highest in the ‘most problematic factors for doing business’ score for this country.
Business NZ Acting CEO Tim Cleary says this year’s emergence of restrictive labour regulations as the top concern under ‘problematic factors’ is likely to be related to current employment relations and holidays legislation changes.
Mr Cleary said the survey was a useful measure of the impact of such regulation on business within a competitive environment.
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