The SME Stream

Social Development Minister Louise Upston isn't worried by the increase in Kiwis relying on the benefit. The Ministry of Social Development released numbers for the last quarter - showing nearly 205,000 people were receiving Jobseeker support, a 12.8 percent increase in a year.  Upston says more unemployment is common during an economic downturn - but she's pleased to note more people have cancell...

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 is down - so does that mean things are actually cheaper, and what can we expect from next m...

WNT Ventures has reached ten years of taking the crunchy stuff we call deep tech and helping turn it into companies and financial returns. With successes like Foundry Lab, Mint Innovation and Carbon Crop in its portfolio, WNT Ventures has made an indelible mark on the country's deep tech scene. The firm's managing partner, Carl Jones, joins the podcast to look back on an industry that has grown at...

Tauranga businesses are furious about what they label harsh outdoor dining fees following a tough winter.  They've been waived for the rest of 2024, but in the new year businesses must pay an annual charge based on outdoor dining area.   In Mount Maunganui it will be $150 per square metre used, which compares to Auckland, where the highest fee is $154 a square metre.   Black Orchid Collective Cafe...

Inflation is continuing to fall and interest rates are likely to follow suit.  The inflation rate has dropped to 2.2 percent.  It's the first time in more than three years it's returned to the Reserve Bank's 1-3% target range.  The Herald's Liam Dann told Kerre Woodham the markets are now pricing in a 100% chance the Reserve Bank will cut the OCR at least 50 basis points next month.  He says there...

Australia's Government is set to ban debit card surcharges as part of an economic crackdown designed to bring financial relief amid an ongoing cost-of-living crisis. Over on this side of the Tasman, the coalition Government has hinted New Zealand may follow suit and cap surcharge fees for debit and credit cards.  Commerce and Consumer Affairs Minister Andrew Bayly says he's committed to making sur...

There's pressure growing for the Reserve Bank to move more aggressively on the Official Cash Rate. New Zealand's inflation rate is officially back on target, at 2.2 percent. Infometrics Principal Economist Brad Olsen says that although the Reserve Bank has recently cut the OCR - it's still higher than it should be. He says the Bank probably needs to slash the rate faster than it originally intende...

The housing market remains subdued across the country, with slightly weaker prices, more stock available and houses taking longer to sell. New data from the Real Estate Institute (REINZ) shows the national median fell 2.3 percent, to $781,000. Infometrics Principal Economist Brad Olsen says prices are likely to stay low - despite recent cuts to interest rates. LISTEN ABOVE The podcasts in the SME ...

There's ongoing concerns for the construction sector, with fewer new builds being considered.  Corelogic's latest construction index shows just a 1.1% increase in cost during the September quarter.   Overall cost growth remains subdued, reflecting an easing of pressure for labour and materials.  Combined Building Supplies Co-op chair Carl Taylor told Mike Hosking the increase in land costs isn't a...

I think we need to get over ourselves here in New Zealand when it comes to foreign investment. And it looks like we’re going to have to get over ourselves - whether we want to or not - with the Government’s plan to make it easier for foreign investors to buy New Zealand companies and properties. The way I’d describe it is that, at the moment, the Government thinks we treat overseas investors as if...

There's more criticism of central city roadworks in Wellington. Retail NZ, Hospitality NZ and the Bus and Coach Association are asking the council to review its Golden Mile pedestrianizing project. A number of businesses say roadworks and cycleway projects have forced them to close. Retail NZ Chief Executive Carolyn Young says it's 'disappointing' that mayor Tory Whanau says the Golden Mile is a b...

Tonight on The Huddle, Trish Sherson from Sherson Willis PR and Josie Pagani from Child Fund joined in on a discussion about the following issues of the day - and more! ASB's CEO is advocating for more taxes in New Zealand to pay for the infrastructure deficits. This comes after ANZ's Antonia Watson advocated for a capital gains tax. Can we find a better solution?  It's been one year since the lat...

One Kiwi investor believes more New Zealand businesses should be putting money aside in order to expand internationally. Phase One CEO Mahesh Muralidhar says this would boost the nation's GDP and add to the economy. He says Kiwis have plenty of entrepreneurial ability - but they lack the ability to see scale like their international counterparts.  "The same entrepreneur, the same university studen...

This week the Reserve Bank of New Zealand dropped the Official Cash Rate by 50 basis points to 4.75%.  Also, the number of one person households have increased by 120,000 over the past decade, but less than 30% of new builds are one or two bedrooms.  Debbie Roberts is a financial adviser at Property Apprentice and she joins Tim Beveridge to discuss this and more.  LISTEN ABOVE The podcasts in the ...

The Reserve Bank of New Zealand has announced a cut of 50 basis points to the OCR, bringing it down to 4.75%.  Director and Fixed Income and Currency Strategist at Harbour Asset Management, Hamish Pepper, joins Tim Beveridge to discuss how the markets have responded and what they may do from here.  LISTEN ABOVE The podcasts in the SME Stream contain general information only, not financial or profe...

An easier road for foreign investors looking at New Zealand's companies and property. The Government's new law reforms will allow overseas investment to proceed - so long as it doesn't go against our interests. Associate Finance Minister David Seymour says right now, we rank 38 out of 38 countries for openness to investment. New Zealand Initiative Executive Director Oliver Hartwich told Mike Hoski...

The gates are opening for foreign investors looking at New Zealand companies and property. The Government's reforming the Overseas Investment Act - allowing any investment that doesn't threaten our interests. Federated Farmers Meat and Wool Chair Toby Williams says he supports the change. He told Ryan Bridge overseas buyers are interested in large farms - that Kiwi farmers can't afford to begin wi...

The Official Cash Rate’s been cut to 4.75 percent – which is being touted as welcome news for households all over New Zealand. It’s the lowest the OCR has been in 18 months. The Monetary Policy Committee said that annual consumer price inflation was within its 1 to 3% inflation target range and converging on the 2% midpoint. While plenty of people are popping the champagne over this announcement,...

Former Finance Minister Steven Joyce says there are some things worth celebrating amidst a grim outlook on the economy.   Treasury documents show the Crown's deficit has grown $3.4 billion dollars in the year to June, to $12.9 billion.   Spending is outpacing income despite revenue increasing by $14 billion.  Steven Joyce told Mike Hosking that recovery will be tough, but there are some positives...

The Government's financial books have sunk further into debt in the year to June, with Treasury revealing the deficit on the Crown books deepened by $3.4 billion. It was also $1.8 billion worse than Treasury forecast in the May budget.  Minister of Finance Nicola Willis joins Francesca Rudkin to explain why.  LISTEN ABOVE The podcasts in the SME Stream contain general information only, not financi...

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, we discuss the all important 50 basis point cut to the Official Cash Rate and what that means for you...

This week's guest, venture capitalist, founder of PhaseOne and former early employee of Canva Mahesh Muralidhar, shares invaluable insights into the necessity for New Zealand's software startups to expand into the lucrative US market. He discusses the unique benefits of Kiwi founders on the global stage and some of the cultural things that might be holding them back.   Plus, the Auckland teen caug...

A token for the Northland community in the aftermath of the collapsed pylon calamity.   Power was cut to about 88,000 homes and businesses in June, when an Omexom worker unfastened three legs of a Transpower pylon.   The electricity provider and its contractor are now putting $1 million towards a regional energy package, to be used for community projects and economic development.   Transpower Chie...

Today's OCR announcement has got everyone thinking about what impact it will have on the housing market.  The Reserve Bank cut for a second time from 5.25% to 4.75%. CoreLogic's Chief Property Economist Kelvin Davidson joins Jack Tame to discuss when it will flow on to home loans.  LISTEN ABOVE The podcasts in the SME Stream contain general information only, not financial or professional advice. A...

I went for a walk along K Road the other night and saw something I hadn't seen in the longest time: A new restaurant.  I didn't even step inside but it felt like a drink of cold water for a parched man in the desert. When was the last time I saw one of those?  It is, of course, a rarity. And hardly a sign that the entire economy is ready to take off. The number of new restaurants in that part of t...