The post Quarterly Economic Manawatū Snapshot - Poutū-Te-Rangi // March Quarter 2024 appeared first on CEDA - Central Economic Development Agency.

Located on Massey's Manawatū campus, this state-of-the-art facility is a hub for food sensory and consumer research, boasting sensory testing booths, focus group rooms, and New Zealand's only mixed-reality immersive space for food research.

The immersive space is a standout feature that can stimulate any eating scenario from a bustling cafe to a tranquil beach using 360-degree projection and ambient scent technology. This allows researchers to understand consumer preferences and sensory properties of food, such as taste, texture and aroma.

"Our research is consumer focused," says Feast Director Professor Joanne Hort. "We seek to understand what influences people's enjoyment of food, from sensory experiences to packaging and labelling."Established in 2017 by Professor Hort, an internationally renowned expert in sensory science, the Feast lab works closely with the food industry, offering consultancy and training. The lab supports the food industry to improve product acceptance, whilst exploring product health and sustainability credentials. Feast supports local small and medium entities as well as global companies such as Fonterra and Zespri.

Recently, Feast received $1million from Fonterra to develop better methods for predicting customer's responses to new food products. Feast researchers conduct studies on the impact of animal feeding practices on consumer perceptions of meat and fish, and the acceptance of plant-based alternatives.

It makes sense that Massey Feast Lab is located here in Manawatū; it reinforces our position as a leading agrifood hub in Aotearoa.

Want to participate in sensory research and attend various studies throughout the year? Find out more.

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The latest economic data shows that annual inflation is sitting at 4% both nationally and for Manawatū in the year to March 2024.

Unemployment has increased slightly over the year, reflecting tight labour conditions nationally that Manawatū is not immune from, especially as job cuts across the public and private sector continue to be rolled out. While GDP growth for Manawatū is in the negatives, declining 0.6% for the year to March 2024, this comes off the back of a very strong few years of growth for our region.

Annual consumer spend saw a slight increase of 1.7%, which is lower than the New Zealand average of 2.8%. The challenging times of our businesses and households continue, with high living costs impacting overall discretionary spending.

This dashboard is designed to give you a quick overview of the latest data and insights for our region, against a national context. This dashboard is published prior to the more in depth Manawatū Quarterly Economic Snapshot which offers more detailed insights, trends and commentary from key sectors and will be released in the coming weeks.

The post Your March 2024 Quarterly Dashboard - The latest regional data at a glance appeared first on CEDA - Central Economic Development Agency.

Late last year we launched the Resource Hub, a digital hub designed to specifically support local businesses working in the visitor sector, including retail, hospitality, acitivies and services, and accommodation. The Resource Hub focuses on three key areas: Trade, Media, and Industry and today we dig into the Industry Hub and how you can use it to support and inform your tourism business.

As the Regional Tourism Organisation for Manawatū, CEDA provides a range of industry resources and tools for businesses. From training videos and booklets to data and insights, marketing updates and opportunities, as well as access to key regional imagery and videos through our visual library.

This new hub is designed to help streamline our support for the sector with tools that can be easily accessed by businesses wanting to upskill their marketing, or better understand the travel trade pipeline.

The Industry Hub is divided into multiple sections which include the following:

News & Updates: Find out about the latest visitor industry events, news, and marketing campaigns right here. Stay in touch with the latest updates from CEDA.

Training & Resources: Get your business up to speed with CEDA’s helpful training guides, videos and resources. Upskill and improve your business with our visitor industry webinars and guides.

Visual Library: Get FREE access to regional imagery and videos.

Data & Insights: CEDA works with Palmerston North City Council and Manawatū District Council to analyse visitor sector statistics. A number of sources are used including card spend data and the national Accommodation Data Programme.

Regional Content: Get on brand with fresh Manawatū copy and itineraries to inspire your readers. You are free to use this text on your website or brochures.

Destination Management Plan: Read Manawatū's Destination Plan 2032, which sets the strategic direction for the city and region’s visitor sector, with a view to growing visitor activity and value for the benefit of our communities.

The post The Industry Hub appeared first on CEDA - Central Economic Development Agency.

Take advantage of these FREE Business Support Clinics, being held in Dannevirke and Feilding this June! Simply book a 30 minute slot with one of our Business Growth Advisors to see how CEDA can help you, and what resources and training opportunities are available.

These Business Support Clinics are for business owners, managers and leaders to come along and discover:

• How CEDA can help identify the needs and opportunities within your business with an impartial, free discovery session.
• What types of information, advice, resources, referrals and connections are available to you and your business.
• What opportunities are on offer e.g. getting a business mentor, co-funding to upskill you or your team in certain areas, or access to R&D funding or expertise through Callaghan Innovation.
• Whether you may be eligible for funding to access training and advice from a training specialist.

Feilding Business Support Clinic

When: Tuesday 18th June 2024
Where: Book a half hour slot any time between 9am and 3pm
Where:Feilding and District Promotion, 61 Aorangi Street, Feilding

Dannevirke Business Support Clinic

When: Tuesday 25th June
Where: Book a half hour slot any time between 9am and 3pm
Where: Tararua Business network, 40 Denmark Street, Dannevirke

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Launching next week, He Ara Kotahi, Hei Ara Kōrero is a unique digital platform where Rangitāne o Manawatū will share their cultural and environmental mātauranga (knowledge) related to the Manawatū River, with communities, schools, manuhiri (visitors), and more.

He Ara Kotahi, Hei Ara Kōrero is a digital platform that provides the people of Manawatū and those that visit our region, with an authentic and trusted source of ancestral knowledge through an engaging storytelling experience in a simple and fun wayThis exciting new digital platform is designed to be accessible by phone and computer, making it easy to connect our communities and visitors with the area around te awa o Manawatū, its people and legacy.

Join us at the public launch event to celebrate this exciting new platform and hear from Chris Whaiapu on our journey to get to this point, and the vision behind this new digital platform.

The Details

When: 31 May 2024
Where: He Ara Kotahi Bridge on Dittmer Drive, Palmerston North
Time: 11am - 2pm

The post He Ara Kotahi, Hei Ara Kōrero is launching 31st May appeared first on CEDA - Central Economic Development Agency.

Sneak peek: E Tipu speakers

The exceptional line up of speakers for 2024 includes local, national and globally acclaimed experts, thought leaders and innovators. From CEO  of EatKinda ice cream Mrinali Kumar, Managing Partner of New Zealand's longest-running deep tech incubator and venture capital fund, WNT Ventures MJ Alvarez, through to KPMG's Global Head of AgriBusiness Ian Proudfoot  the speaker line up for 2024 sets this two-day event up for in depth, thought provoking and meaningful discussions.

Check out more speaker profiles below:

The Details

When:18-19 June 2024
Where: Palmy Conference + Function Centre
Tickets: Available now

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For the year ending March 2024, the region's annual electronic card retail spending totalled $1,791 million, a 1.7% increase compared to the previous year. This was below the 4% inflation rate, indicating negative real growth in retail spending across the New Zealand economy over the year.

Local spending comprised of 75% of the total, amounting to $1,363 million, which is 2% higher than the previous year. Supporting local businesses and purchasing local are crucial in supporting our region, as the economy continues to cool and inflationary pressures continue to put pressure on households.

The top five spenders into our region accounting for 15% of total annual spending combined for the year ending March 2024 were:
>> Horowhenua District
>> Tararua District
>> Wellington Region
>> Rangitīkei District
>> Auckland Region

The detailed analysis of spending patterns revealed that Palmerston North city's Terrace End precinct experienced the highest annual growth rates of 4.5% while in the Manawatū district, areas outside of Feilding saw a 4.8% increase.

Spending on groceries and liquor, cafes and restaurants, and accommodation supported the region's growth, while home and recreational retail saw a decline of 8%. The trend indicates a shift in consumer behavior towards essential spending amidst economic pressures.

To view the full quarterly electronic card retail spending report for the period ending March 2024, click here.

The post Manawatū Quarterly Retail Report March Quarter 2024 appeared first on CEDA - Central Economic Development Agency.

Success in business is achieved through strategic planning and execution, aligning your actions with your business objectives. This training aims to equip business owners with the skills to develop and implement a comprehensive business plan, enabling them to achieve desired results, increase profitability and cash flow, identify and resolve critical issues, and gain access to expert guidance through a collaborative process.

The training will be delivered in a four-hour workshop format, focusing on the following key learning outcomes: 

1. Envisioning the business's future: Participants will learn to envision their business's desired state in the next three years, setting clear long-term goals and objectives.
2. Annual action plan: The long-term vision will be broken down into a practical 12-month action plan, outlining specific steps and milestones.
3. Quarterly implementation: The annual plan will be further divided into quarterly segments, focusing on key projects from nine fundamental areas of business: financial management, sales and marketing, staff development, workflow and productivity, and systems and processes.

The Details

DATE: Wednesday 26 June
TIME: 9:30am to 2pm
WHERE: The Cooperage, Palmerston North
COST: $500 excl. GST per person
(up to $300 of funding could be available for your business*)WHO: Jeff Cruickshank, Business Coach at MYBIZ

Jeff has an extensive knowledge of business management, covering all areas of business, from sales targets and budgets to strategic business planning, and all things related to getting the best out of your team

Interested? Book a FREE discovery session with one of CEDA's Business Growth Advisors to see if this workshop is the right fit for you.

You'll also receive an action plan for you to support your business challenges and goals. If the workshop fits your business, you'll be registered, and co-funding could be accessed (up to $300 of funding could be available for your business*)

*You will need to book in for a discovery session and confirm eligibility to access funding.Have any questions or want to know more?
Get in touch with Julia at julia.giles@ceda.nz

The post MYBIZ One to Some Business Planning Workshop appeared first on CEDA - Central Economic Development Agency.

Despite these challenges, there are positive indicators. The region’s economic diversity and growth in non-residential consents suggest resilience. Global economies are showing signs of recovery, which could positively impact New Zealand’s export values, particularly for dairy and beef products.

The region's GDP has declined slightly, reflecting wider economic pressures. However, in the past five years, our region's GDP growth has outpaced the national average. Inflation, though easing, remains higher than desired. Interest rate reductions are anticipated toward the end of 2024 or early 2025 with stubborn domestic inflation delaying hopes of earlier easing by the Reserve Bank of New Zealand (RBNZ).

Palmerston North City Council Economist Stacey Andrews credits the structure of our regional economy for this resilience. “The diversity of our economic structure has supported the GDP performance of the region over the past several years. The regional economy is strengthened by our broad range of sectors with the defence and health sectors making up a significant part of our large public sector.

We also have a greater proportion of big businesses here in the region that are less exposed to economic cycles.
While the region is less vulnerable than many other parts of New Zealand, we are not immune to the current economic slowdown.  There will be challenges throughout 2024 and into 2025 as our households and businesses continue to face higher interest rates and elevated costs.”In the housing market, sales have declined, but prices remain comparably more affordable in our region compared to the national context. Rental prices have risen, further impacting household budgets however Manawatū continues to be a more affordable place to live compared to other regions in the country with home ownership more attainable and rental pricing remains more affordable.

Overall, while the region faces economic challenges there are signs of resilience and positive growth potential.

The post Karapatanga Ohaoha Hauwhā Tau ki Manawatū // Quarterly Economic Manawatū Snapshot December Quarter 2023 appeared first on CEDA - Central Economic Development Agency.

With over 120 companies and 3,100 scientists and researchers calling Manawatū home, our tech scene is buzzing with creativity and talent.

From 20-26 May, get involved in the Techweek celebrations in our region. Whether you're a seasoned pro or just dipping your toes into the tech world. There's something for everyone. Let's come together to support the growing demand for tech workers and celebrate the incredible advancements happening right here in Manawatū!

Manawatū Innovation Showcase 2024

Come along to the Manawatū Innovation Showcase 2024, where innovation and technology take center stage. Hosted by The Factory, this event is your ticket to dive deep into the dynamic landscape of innovation in our region. See who the key players are, discover local companies doing global things, and learn more about your own backyard's brightest people and businesses, in this showcase event.

With guest speakers, and networking over some drinks and nibbles plus a pop-up makers-market, this event is a must-add to your calendar.

The details

DATE: Monday 20th of May
TIME: 5:30 to 8:30pm
WHERE: Palmy Conference + Function Centre, 354 Main Street, Palmerston North
COST: $5 Per Person

Check out the variety of free and paid events below:

• Power of LinkdIn - Personal Branding 20th of May, two36
• Women in Technology Panel 21st of May, Te Manawa
• Mega Meetup 23rd of May, Victory Venue

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The Details

DATE: Friday 3rd May
TIME: 12:30pm - 2:30pm with lunch on arrival
WHERE: Te Manawa, Palmerston North
COST: RSVP is essential, via this linkSustainable is Attainable is an initiative aimed at developing viable alternatives for the waste and by-products generated during food processing, manufacturing and logistics.

This initiative involves collaborative efforts among businesses, universities and research and development organisation to collect, assess, and identify key data to progress the development of various solutions.

Our upcoming workshop marks the first step for our region and will primarily focus on understanding the waste and by-product challenges faced  by our local businesses. We aim to gather information on the output, including:

• What is it?
• What's in it?
• How much of it is there?
• What are we doing with it?
• What have we heard about that we could learn from?

Participation in this workshop will provide you with a comprehensive understanding of your business's waste and by-product output, offering insights into our current practices and future sustainable waste management opportunities.

Join us and together we can take the first step towards a more sustainable business future.

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