The construction industry in New Zealand is worth $18.1 billion per year, accounting for 6.7% of real GDP. It employs almost 300,000 people which is approximately 10.5% of the workforce.
The New Zealand construction industry is a vital part of the country’s economy, providing jobs and stimulating growth. However, it has faced some challenges in recent years. In particular, there has been a shortage of skilled workers and materials, which has led to increased costs and delays in completing projects.
The industry is highly cyclical, which means that there are often cash flow problems during periods of low activity. This is why it’s so important for the industry to have sound accounting and finance systems in place.
Our team at Elite Accounting is dedicated to providing structure advice and setting up accounting systems and processes. We also assist organizations with tax planning and compliance.