18 Dec 2009

Businesses face 2010 with confidence

5:33 am on 18 December 2009

While there's been a slight fall in overall confidence in the general economy, the National Bank's latest Business Outlook suggests businesses are confident about their own prospects for 2010.

According to the survey, 16% of businesses expect an increase in profits next year.

Briscoes managing director Rod Duke is among retailers who are bullish about their prospects.

He says the first half of 2009 was tough for retailers, but shoppers have returned to stores and the industry has begun to show signs of growth.

Mr Duke says he expects Briscoes to experience an increase in revenue and profitability in 2010.

Economic confidence is strongest in the construction industry.

Goldline Homes director Dennis Peat expects his company to experience enough economic growth to begin hiring new employees.