The "Ride the Recession" business forum featured a panel including senior economist Dr Ganesh Nana, Tourism Dunedin chief executive Hamish Saxton and Westpac's Otago-Southland business banking manager Phil Moore.
The forum examined the effect and impact of the economic climate on a rural community like South Otago, what businesses could do to retain the confidence of banks, and how they could preserve revenue and ride out tough economic times.
In his presentation, Dr Nana said the present recession had some similarities to others but he dismissed fears of huge job losses and big cuts in consumer spending.
"Let's put things in context," was a phrase he repeated often during his presentation.
While there had been a rise in unemployment, Dr Nana said figures also showed more people were still getting work.
Spending was also holding up despite "doom and gloom" from some commentators that people would lock up their wallets.
"All this talk of Armageddon and this being like the 1930s [Great Depression] is just not there.
"Let's keep things in perspective. The figures tell us otherwise."
New Zealand could not simply look at the rest of the world and blame it for the economic situation facing this country.
Huge consumer spending and rising house prices, especially in Auckland, were largely to blame, he said.
But New Zealanders could not sit back and hope things would get better.
The solution was simple.
Growing exports and growing jobs would do the trick, he said.
