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Canterbury quake risk ‘breeds bold businesses’

The Christchurch earthquakes have given rise to a resilient and innovative business community willing to take on more risk than elsewhere, according to research commissioned by Suncorp.

The survey asked 415 New Zealand businesses what is important to them, what might hold them back, how they feel about risk and how they see their businesses evolving over five years.

About 75% of Christchurch respondents say they have taken “medium” to “very large” risks when making business decisions – more than 20 points above the rest of New Zealand.

Some 77% believe taking calculated risks results in better business decisions, compared with 59% nationwide.

Cantabrians also show more sophistication around risk mitigation, with 89% agreeing that assessing future trends and risks can keep a company ahead of its competitors (68% nationwide).

Suncorp EGM Customer Experience Campbell Mitchell says the research shows the resilience and pragmatism of people in the region.

“These businesses have had to face risk head on, and perhaps as a result the research shows they feel more confident about making good risk decisions, and believe taking risks can push a business to the next level,” he said.

“The adversity Cantabrians have faced disrupted every part of their lives.

“But that tragedy seems to have bred a city alive with resilience and innovation, and an attitude to risk that the rest of the country could learn from.”

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