Although some segments of the economy are beginning to show gradual signs of recovery, the New Year will continue to pose challenges for some businesses, especially small enterprises, an importer said.
Pacific Investment Limited Managing Director Surya Sharma said the New Zealand market is competitive and highly saturated with an increasing number of players.
“However, quality products and regular supply helped us to wade through difficult times. We are confident that we will be here to serve the business community,” he said.
Established seven years ago, the Manukau based company has grown from a modest beginning to claim an impressive market share.
Mr Sharma said the company is an importer and wholesaler of a wide range of products including spices, sugar, noodles, Pops Soft drinks, Bushells Tea and popular brands such as ‘Twisties.’
“These products are imported from Fiji and are distributed to major Indian retail outlets including supermarkets and dairies,” he said.
Tight money market conditions have created cash flow problems, with some customers slow in meeting their financial obligations.
“This means we have to arrange additional finances to be up-to-date with our suppliers. Banks have tightened their credit policies, and the exchange rate is volatile, both of which pose greater challenges,” Mr Sharma said.
