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New Zealand has gone through one of the biggest downturns in modern history. Starting from the pandemic, what started as a recession quickly showed us that the reality was far from uniform. The K-shaped economy (Peter Atwater) showed exactly that. At any given time, some industries were thriving while others struggled, all under the same economic conditions, depending on services, business structure, and the willingness to pivot.
Silverdale businesses are no exception. A recession is technically defined as a drop in GDP over two consecutive quarters, but talk to five business owners on the same street and you’ll get five different stories. One is closing their doors, two feel the pinch, and two are busier than ever, making more money than they had before. That’s the reality of K-shapes in motion, and slowly we’re starting to see some green shoots coming through.
Our core businesses in Silverdale are largely in the Industrial and Highgate Precincts, and are industrial, manufacturing or trade-based, serving B2B, with about half of our activity in that space. These businesses feel the effects of economic triggers differently depending on where they sit in the supply chain. The constant idea to keep thriving is simple: focus on risk management, choose who you deal with wisely, and don’t rely solely on broad customer retention.
B2C businesses in our Central and Village Precincts, such as retail, hospitality and service providers, drive much of the growth and energy in the area. Retailers often ask why Silverdale Centre is packed while Silverdale Mall feels quieter. The answer seems to be about purpose. The Centre is a thoroughfare offering key services and large reputable brands, a place to drop in and pick something up rather than a destination. That’s exactly why events like the Pioneer Festival and our project to create a heart for Silverdale in the Pioneer Village market and event space are so important.
We’ve also seen a rise in petty crime, and to help businesses feel safer we’re investing more in our Safer Silverdale network. Silverdale is a community, and communities look after each other. More than ever, this matters.
We provide events, marketing and campaigns to make local businesses visible and supported. If you ask me for an example of what businesses in New Zealand look like as a broad group, you’d need to look no further than Silverdale. To quote one of our larger businesses: “We have the biggest brands. We house New Zealand’s largest data centre, biggest retail and home delivery retail machine, and at the same time, the best pies, best café, best mechanics, tyre centres, builders, New Zealand’s best post shop and best league gear. Just ask anybody here, they’ll tell you.”
