Lately the media seems keen to inundate us with stories of doom and gloom with regard to the economy. Whilst there are some dark clouds and some corrections taking place it seems so far to be mostly led by the property market. I know however we are a tiny part of the global economy and as such have no influence on the vagaries of that vast behemoth. So there is not a lot we can do with regard to the big picture. By Mike Egan

However in speaking to many of my customers they seem fairly relaxed, as firstly they were not property speculators, secondly have good jobs and lastly have not bought a house recently. Whilst there may be a bit of belt tightening and as such they are not looking to purchase big ticket items in the immediate future, going out for a meal or a drink or even a coffee is not a luxury, it is just part of their weekly or daily ritual.

Whilst saying that we must remember what they do want and that is a complete hospitality experience, where all 3 pillars of our business; service, food and ambience are of a sufficiently high standard of consistency and quality. This is where our customers feel that they get the most bang for their buck. Whether it is a café, a smart casual operation or an upscale venue the businesses that are doing all three well are doing OK.

Although we may not see great growth in our sector in the short term, the economic forecasts I have seen seem to indicate that hospitality is going to be less affected than some other sectors of the New Zealand economy.

Who knows what will happen, as all the experts did not see the train wreck, which is the American Sub-Prime meltdown, coming. Hang in there, be positive and as with all economic activity, it is a cycle. Lets hope this one is relatively short lived.