New Zealand’s economy has done better than expected during COVID-19. Construction contributes just over 6 percent to New Zealand’s gross domestic product. Here are five pieces of advice for businesses operating in the construction and building sectors, as compiled by Stuff’s business journalist, Melanie Carroll:
Retain and invest in staff training and development
The building and construction sector was facing a significant shortage of skilled workers pre-Covid-19 (60,000 workers by 2021) and this has only increased due to New Zealand’s closed borders.
Look for areas to save costs
Clients in both residential and commercial construction builds should be encouraged to save costs by opting for standardised vs. bespoke designs – much of the increased cost in building in New Zealand is due to our obsession with bespoke designs which cost a lot more.
Consider the advantages of getting bigger
Building and construction businesses should look to merge and amalgamate where possible, so they can scale up and take on larger development projects.
Think about climate change
Look to get ahead of climate change compliance changes by reducing waste and replacing heavy carbon products with more sustainably manufactured products in the building supply chain, where possible.
Find out what the leading firms in your industry are doing
Look at whether larger businesses in the sector are doing anything that you could pick up on to help improve business performance.