The SME Stream

New data shows that more Kiwis will have to take on debt ahead of this coming Christmas season. A nationwide survey by MYOB showed 35 percent expected to feel financially better off in a year's time, while 38 percent expected to be about the same, and 24 percent believed they would be worse off. Personal finance expert Mary Holm says more Kiwi households will be struggling to afford presents for t...

A warning our major political parties need to display more bipartisan planning so we don't buckle to a dwindling population and economic growth.  Business NZ's report warns a labour shortage of at least a quarter of a million is expected before 2050, and there's also a one in four chance the population doesn't grow. Business Canterbury Chief Executive Leeann Watson told Andrew Dickens says ma...

I hope people are sitting-up and paying attention to what BusinessNZ is saying today.  Especially the people who have their heads in the sand about our ability as a country to keep paying for things like healthcare and pensions.  Because, as BusinessNZ puts it, we don’t have enough people to keep on doing that and we need a lot more people.  As one headline today says, New Zea...

Business NZ Chief Executive Katherine Rich says the Supreme Court's ruling that Uber drivers are in fact employees of Uber, not contractors, could have far-reaching implications for businesses that hired contractors, and she says it could collapse the gig economy. What's the gig economy? Well, when we're talking about the gig economy, we mean people who work on single projects or tasks, gigs, on d...

New polling data has revealed less Kiwis have faith the current Government can turn the economy around ahead of the upcoming election. A New Zealand Herald-Kantar poll has found voters are evenly split on Labour's proposed capital gains tax and about 45 percent of respondents in an IPSOS survey scored the Luxon-led Government below 3 out of 10. Finance Minister Nicola Willis says it's clear a sign...

Think paying off the family home will have you sorted for retirement? That might have been a solid plan once upon a time, but times have changed and and perhaps your retirement plan should change too.  Michael Vincent, mortgage director at Lighthouse Financial, joins Nadine to talk the dangers of relying on your house to look after you in later life, and what you should be doing instead.&nbsp...

The Trade Minister's cautiously welcoming a rollback of US tariffs on food imports including New Zealand beef, offal and kiwifruit. US President Donald Trump's signed an executive order reducing the tariffs. The affected New Zealand products represent around 25 per cent of our exports to the United States, worth more than two billion dollars annually. Trade Minister Todd McClay told Mike Hosking t...

Chris Luxon is standing firm on his opposition to a capital gains tax. A New Zealand Herald-Kantar Poll shows New Zealanders are evenly split on Labour's proposal for a tax on gains on commercial and investment properties. Opposition is strongest in Auckland, while support for the CGT is stronger in every other region. The Prime Minister told Mike Hosking Labour's proposal is ultimately a bad idea...

The Government is planning to increase fines for breaching the Fair Trading Act - from 600-thousand dollars to five-million. It is announcing a swathe of changes to crack down on businesses and individuals breaking consumer laws.  The cases could also be moved from the criminal court to the Civil Court to make prosecution easier.  Consumer NZ Chief Executive Jon Duffy told Mike Hosking t...

Big win for NZ Inc. and a lesson for everyone who doesn’t understand tariffs. Donald Trump has cut tariffs on beef and the beneficiaries are largely New Zealand, Australia and Brazil. Brazil has had a 50% tariff so they will be thrilled. We are at 15% and it's 10% for Australia. We may not benefit as much but given we are “balling”, as they say anyway, anything that gives us a ch...

A shareholder vote to approve a takeover bid for Comvita has not gathered enough votes to proceed.   The bid from Florence to buy Comvita at 80 cents a share required 75% support from shareholders to go through.   Although the official vote count has not been released, we know that the numbers fall short of the margin.   Octagon Chief Investment Officer Paul Robertshawe told Heather...

The New Zealand beef sector's set to save some dosh, with the removal of the additional 15-percent tariff on our beef. US President Donald Trump's reversed his tariffs on a wide range of US food imports, including New Zealand beef, offal and kiwifruit. These products represent around 25 per cent of our exports to the United States, worth more than two billion dollars annually. Beef & Lamb New...

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. This week, NZ is one step closer to a free trade deal with India, inflation may be up but our expectations of it remain sta...

One NZ-based think tank is floating the idea of KiwiSaver schemes for kids, claiming it could set them up with $10,000-$20,000 in savings by the time they reach adulthood. The Institute for Democratic and Economic Analysis has put out a report proposing different models, including a kickstart Government payment and matching parental contributions. Max Rashbrooke, co-founder of the Institute for De...

The price of gold continues to hit new highs, and speculators are wondering whether they should invest. Gold has seen the strongest year since the 1970s, largely thanks to volatile markets and economic uncertainty.  Fisher Funds expert Sam Dickie explained further. LISTEN ABOVE The podcasts in the SME Stream contain general information only, not financial or professional advice. Any...

In America at the moment there is a lot of talk about the “K” shaped economy.  Car dealers see it. If you have a good, safe job, good income and you're in the markets invested in AI (before it all pops) you are feeling good.  You are the upward bit of the “K”. You're buying a flash new car with carbon add-ons.  If you've been laid off, or about to be by a rob...

After years of anticipation and frustration over slow progress, New Zealand’s open banking era is about to become a reality.  On December 1, official regulations come into effect , bringing sweeping change to how Kiwis access and control their financial data. Akahu co-founder Josh Daniell, whose platform already integrates with more than 85 products that draw on consumers’ bank da...

The country's overdue tax debt has hit $9.3 billion for the year to June, according to new reports. It's growing faster than the Government's tax take and New Zealand's overall economy, prompting concern from experts. NZ Herald Wellington business editor Jenee Tibshraeny explained further. LISTEN ABOVE The podcasts in the SME Stream contain general information only, not financial or prof...

The long-running US Government shut-down has come with plenty of economic ripple effects, but there's hopes it could come to an end. The 41-day shutdown could last a few more days, but the the Senate passed legislation to attempt to reopen things. Milford Asset Management expert Jeremy Hutton explained further. LISTEN ABOVE The podcasts in the SME Stream contain general information only, not...

I've seen a lot of commentary in the past few days about our government debt position.  We're up over 40% of GDP. That's doubled on pre-covid. There are those on the left who say that's too little. We should borrow more. Forget a debt ceiling, borrow more and throw it at the public service and create some jobs. Any jobs. This is what Carney is doing Canada.  His budget would double Ottaw...

At what point, when you're a business owner, do you decide that you've had enough? There was Covid, then there were the boom times, then there was the recession that seems to have gone on and on, there's a crisis in consumer confidence, there's global uncertainty that too has gone on and on. There are problems finding staff, there are problems keeping staff, there are problems finding work, proble...

Many businesses that limped through the pandemic are now going under.  Insolvency practitioners have been reporting a sharp rise in the number of insolvencies since mid-2022.  Smaller retail, hospitality, construction, transport and manufacturing operators are failing far more now than they were before the pandemic.  Waterstone Insolvency Principal Damien Grant told Kerre Woodham a...

Artificial intelligence is growing and changing and reshaping industries, but there's growing concerns about the harm it could bring. Trust is a valuable asset in the digital space, and many businesses are concerned about how the online experience could change - and how it could impact their output. Former White House CIO and Fortalice Solutions CEO Theresa Payton says it's going to get harder for...

Business NZ believes further action is still needed to address compliance costs for small businesses.  It says the Government's making good on its promise to cut red tape, but its new progress report shows several compliance burdens across sectors, including construction.  The Ministry for Regulation’s engaging with businesses, councils, and industry bodies to begin removing incons...

The Prime Minister has indicated trade talks with India are progressing well - and speculation claims both nations could have a trade deal by next year. Trade Minister Todd McClay has been hosting Commerce Minister Piyush Goyal in Auckland for a fifth round of talks on a trade deal. Finance Minister Nicola Willis won't disclose too much, but she says good progress is being made. LISTEN ABOVE The p...