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Canterbury firms growing at 'awfully large rate'

Published: 11:41AM Thursday September 13, 2012 Source: ONE News

Shaken Christchurch businesses are getting back on their feet, but Recover Canterbury says this brings more challenges.

While it can be seen as a positive, Bridget Frame from Recover Canterbury told TV ONE's Breakfast staff shortages could be just around the bend for Canterbury firms.

"Staff shortages and increased costs have been identified as an issue, another one is managing sustainable growth," she said.

"Some of the businesses we dealt with, particularly in the hospitality industry, are growing at an awfully large rate."

But most firms, despite hold ups with insurance payouts and repairs, are still looking on the bright side.

"Around 74% of our businesses that we've dealt with are talking with some degree of optimism, which is great," she said.

"It tends to be pinned on the rebuild happening at some stage soon, but I guess it would be tempered by some concern about the slowness of insurance payments in particular, and many of our businesses are experiencing some loss in sales."

Frame said tourism is still feeling the pinch and businesses located in the CBD before the quakes are still looking for their old customers.

In addition, many firms are still looking at major building repairs.

"Around 7% of the businesses we've dealt with have said that their building has needed to come down," she said.

"And gosh, around 24% more say that their buildings will have to have some kind of major repair going on."

She said businesses know this is coming, and they need to be prepared.

"One of our businesses that we dealt with said they just want to get on with things - they're worried about a man with a fluro coat coming in and saying they want to close them down. The best thing they can do is have a plan b for that."

Frame told Breakfast the best thing they can do is have a backup plan, just in case they do get shut down.