The SME Stream

Tourists in Aotearoa on the visitor visa will soon be able to work remotely while here. The change is targeting 'digital nomads', people employed by overseas companies here to holiday and work at the same time, in the hope they will spend more time and money in the country. Tourism is currently New Zealand's second largest export and the latest visitor numbers from Stats NZ show in November 2024 w...

The Government's signalling more visa changes could be on the way to encourage overseas travellers.   There's been a loosening of visa settings, allowing tourists on holiday here for up to nine months to work remotely for an overseas employer.   Tourism Minister Louise Upston says the tourism sector continues to fall short of pre-pandemic visitor numbers.  She told Mike Hosking they...

There are more tariff threats from President Trump after a tense standoff with Colombia.  The South American nation rejected US planes of deported Colombian migrants, but has now had to backtrack after Trump threatened large tariffs.  The President has floated imposing tariffs on a number of trading partners as part of his 'America first' economic policy.  But New Zealand Internatio...

The United States has stood out as the only major economy experiencing significant expansion amid Global PMIs.  The economic health indicator was a mixed bag for manufacturing and service sectors.  Meanwhile, luxury brand Burberry has soared 10% on its quarterly update.  And back home, why are things are looking up for the red meat sector?  Devon Funds Management representative...

SailGP's chief technology officer Warren Jones goes deep into all the ways he and his team have integrated digital technologies into the very foundation of the sport changing the nature of racing. Plus, the ramifications for New Zealand and the world-at-large of the technology billionaires buying their way into US President Donald Trump's good graces. The Business of Tech is sponsored by 2degrees...

New Zealand's economic outlook for 2025 is expected to be a recovery from the previous two years of weakness. With inflation stagnant and the number of Kiwis leaving the country appearing to have peaked, economists are predicting we will see an uptick. Yet it could be a long road to get to the light at the end of the tunnel – with the Government’s books at the end of December painting...

So we have an inflation number, which is better than not knowing, but it doesn’t tell us much. 2.2 percent for the year to December, no change from the quarter before it and crucially non-tradable inflation, the stuff we should have more control over domestically is sticky at 4.5 percent. Two main problems here, one for us and one for the Government. If the exchange rate keeps tanking, the s...

The Trade Minister says he wants deals through the door this year - with a Government goal of tempting overseas funding. A new agency called Invest New Zealand will roll out the red carpet out to foreigners with money to put into infrastructure and key sectors. Todd McClay says he doesn't want reports, he wants deals with investors. "They certainly don't invest in a country when Government agencie...

Prime Minister Chris Luxon laid out his vision for growing the economy as part of today's State of the Nation address - and pointed the finger at the country. Luxon pushed the need for more jobs, investment and innovation, and criticised New Zealand's 'culture of saying no' that was holding back new developments. NZ Herald business editor at large Liam Dann explains further. LISTEN ABOVE The podca...

During his state of the nation speech Prime Minister Christopher Luxon announced a new foreign investment agency with the aim of driving more overseas revenue to our shores and boost local economy and productivity. It's a model based on Ireland and Singapore and will see Invest New Zealand become part of New Zealand Trade and Enterprise, which itself is set to become an autonomous crown entity. Ex...

As business owners, you know how hard it is keeping up with your business, let alone the news. Join Wilhelmina Shrimpton each week as she gives you a rundown of the biggest stories that could impact on your business, so you can make informed decisions with expert advice. In this weekly wrap, Inflation hasn’t dipped as expected so what will that mean for next month’s OCR announcement? E...

If your enthusiasm to maintain your “New Year, new me” financial goals is starting wane already, you’re not alone – most resolutions are abandoned by February! But experts in finance and psychology say there’s both art and a science to setting financial goals and adopting the behavioural change that helps you stick to them. Join Nadine this week as she discusses how t...

Confidence another substantial Official Cash Rate cut's on the cards, with today's figures showing inflation is still under control. Stats NZ says the rate for the year to December remained unchanged at 2.2 percent. Inflation is well down from the 2022 high of 7.3 percent, but still higher than the 1.5 percent reached in 2021. Infometrics Chief Forecaster Gareth Kiernan says he's confident the Res...

New reports indicate the Indian Government is sounding out the nation's biggest businesses to determine how they feel about a trade agreement with New Zealand. The Indian Government reportedly sent an email to members of the Federation of Indian Chambers of Commerce and Industry asking for feedback on the idea of starting negotiations with NZ on a free trade agreement. India NZ Business Council ch...

There’s a belief we're still yet to reap the benefits of having inflation under control.  Latest Stats NZ figures show the inflation rate for the year to December was 2.2%, unchanged from September.  Inflation is well down on the once-in-a-generation high of 7.3% of just two and a half years ago.  The Herald's Liam Dann told John McDonald we're still yet to see many prices com...

Stats NZ will release Consumer Price Index inflation numbers for quarter four on Wednesday, and economists are predicting it will be within the Reserve Banks's target range of 1 - 3% It comes off the back of December card spending numbers which saw retail spending increase by 2% NZ Institute for Economic Research Deputy Chief Executive Christina Leung says they're expecting a rise of 0.6% for the...

Economists have revealed retail spending numbers were better than expected for the month of December. The total value of electronic card spending, including in non-retail services and other non-retail categories, rose a seasonally adjusted 1.5 percent to $9.23 billion in December from November, according to Stats NZ.  That brought total spending in line with levels last seen in November 2023....

Nicola Willis says her new role in Cabinet is all about driving New Zealand's growth.  The Finance Minister has been given the Economic Growth portfolio, formerly known as the Economic Development portfolio It's been taken off Melissa Lee - who's been stripped of all ministerial responsibilities. Willis says she'll now be taking the lead at the Ministry of Business, Innovation and Employment....

ASB has cut its 18 month fixed term loan rate to 5.39% following cuts by Westpac and BNZ. All three of the banks' six-month rates are now at 5.99% as they fight to be the bank of choice for mortgages.  This comes alongside rumours of a foreign buyer ban reversal - with experts saying it could work, but rules need to be more flexible.  LISTEN ABOVE The podcasts in the SME Stream...

Nicola Willis will pick up a new role with a new name in the Economic Growth Portfolio - formerly the Economic Development Portfolio occupied by Melissa Lee. Willis told Francesca Rudkin she is planning to identify the barriers for small businesses, industry leaders and entrepreneurs.  The change is among a variety of shakeups to cabinet - Doctor Shane Reti has lost the health portfolio, Sime...

Prime Minister Christopher Luxon has made a series of changes to his cabinet for the new year. Melissa Lee has been demoted from his ministerial team, taking her economic development and ethnic communities portfolios off her. Lee’s economic development portfolio had morphed into economic growth, which has been given to Finance Minister Nicola Willis. “[Willis'] focus will be on leading...

Another sign of hope on the horizon for jobseekers.  The latest quarterly Westpac-McDermott Miller Employment Confidence Index has risen for the first time in over two years, off the back of a three-and-a-half-year low.  Public sector workers are more pessimistic than private sector workers about their earning prospects.  But there's growing confidence, across the board, about the a...

The banks are at it again.  ASB is slashing its rates this morning following a move by Westpac yesterday afternoon.  Many borrowers have been moving to floating or short-term fixed rates, anticipating further OCR cuts.  But latest forecasts show bank economists now expect the Reserve Bank to start hiking the OCR again next year.  Infometrics Principal Economist Brad Olsen told...

The strong US jobs report is out and raising questions about further interest rate cuts. A quarter of a million jobs were added to the market in December, causing the unemployment rate to drop to 4.1%. As employment rose stock prices fell as a result of such strong labour market data. Economist Brad Olsen joins the show to discuss how this will affect New Zealand, the Prime Ministers trip to the U...

Businesses are feeling optimistic they could be in for a better 2025.   The latest Quarterly Survey of Business Opinion from the Institute of Economic Research reveals a net 9% of firms are expecting general economic conditions to improve.   This is a jump from a net 4% feeling downbeat three months prior.  Infometrics’ Brad Olsen told Tim Beveridge that it’s definitely...