Exploring the relationship between business performance and wellbeing
We are delighted to share with you our April 2023 report featuring the latest findings of the BDO Wellbeing & Business Performance Index – BDO Te Rangahau o ngā hauora pai. This is our third biannual report – a unique study exploring the relationship between business performance and mental wellbeing among over 500 New Zealand business leaders and owners. View our latest report insights and business tips below.
READ THE APRIL 2023 REPORT
To start the conversation, news reporter Wilhelmina Shrimpton interviewed Kimberley Symon, BDO Advisory Partner, to discuss key challenges and what business leaders can do to alleviate them.
View our video insights
Business financial concerns to the fore
Unfortunately, wellbeing among New Zealand business leaders has declined since our first measure in May 2022, decreasing from 69 to 62 in March 2023. During this same period, the impact of business financial pressures has steadily increased. Business financial pressures are now the most commonly cited cause of negative wellbeing in our April 2023 results, overtaking COVID-19 for the first time. Meanwhile, business leaders now cite external economic pressures as the second most significant cause of negative wellbeing – a reflection of the ever-increasing economic challenges businesses are facing both here in Aotearoa and globally.
With economic and market conditions worsening for many, it’s important that business leaders focus on what they can control as a way to manage wellbeing. Strong financial management is an essential tool for business leaders to move through these tough times, and you will see a range of specific tips on this in the report – as well as broader advice covering the other key concerns for business leaders, such as supply chain planning, risk management and sustainability.
Special feature – BDO Business Resilience Guide
As a special feature of this edition, the April report includes the BDO Business Resilience Guide, sharing strategies and considerations for business leaders in preparing for the impacts of escalating economic challenges and potential recession. You'll find the guide at the end of the report here.
Sector-specific insights & tips
You can also view sector-specific commentaries, business tips and video interviews with our BDO sector leaders, covering agribusiness, construction, healthcare, Māori business, retail and tourism.
Where to go for further support
We hope you find the BDO Wellbeing & Business Performance Index useful. It’s often said that small and medium-sized enterprises are the backbone of New Zealand’s economy. However, at BDO, we acknowledge that it’s the people like you running these businesses who are the real heart of the business sector - and only through supporting your wellbeing can we help you achieve your dreams and drive sustainable economic growth for Aotearoa.
Most importantly, it’s never too soon or too late to reach out for help. Please lean on your trusted team - whānau, friends, colleagues and professional advisers - for the support you need in managing your wellbeing and business. You’ll find details of useful contacts below.