The SME Stream

What’s your message to the new Reserve Bank Governor?   Dr Anna Breman is moving from Sweden to take up the job and will begin her five-year term at the start of December.   I thought it was interesting to hear her say yesterday that one of the first things she plans to do is to travel around the country to meet and listen to people.   She says she wants to meet people in regu...

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 …it’s in with the new at the Reserve Bank with a fresh face taking the helm, leave entitlements ar...

The way the New Zealand government buys technology is about to change in a big way.  A Cabinet paper from Judith Collins, the minister for digitising government, has outlined and approved a plan to centralise IT and digital-related government procurement decisions within the Department of Internal Affairs. Facing up to $13 billion in planned technology spending, with only two-thirds of it fun...

Nicola Willis admits the economy isn't where the Government would like it to be.  The Herald's annual Mood of the Boardroom survey shows business leaders are less optimistic about the economy than they were a year ago.  Only a third of respondents back the Government's current growth agenda.  The Finance Minister told Mike Hosking they're hearing the call for harder, faster action,...

The new Reserve Bank Governor is pledging to build trust and credibility. Sweden's Anna Breman has been announced to lead  the central bank, taking over from interim Governor Christian Hawkesby in December. She'll be the first woman to ever hold the role - selected from more than 300 candidates who were initially identified. Newstalk ZB reporter Azaria Howell says Breman has revealed the new...

Business leaders aren’t sugarcoating their messages for the Government.   The Herald's annual Mood of the Boardroom survey shows business leaders are less optimistic about the economy than they were a year ago.  Only a third of respondents back the Government's current growth agenda.  Forsyth Barr Managing Director Neil Paviour-Smith told Mike Hosking concerns are being expres...

AI and technology stocks are continuing to have a significant presence in the market - but which companies are leading the charge? Broadcom and Oracle are among the companies that have generated positive results, and Nvidia made headlines following its $100 billion investment in OpenAI. Milford Asset Management's Andrew Curtayne explained further. LISTEN ABOVE The podcasts in the SME Stream contai...

Treasury has raised the alarm over the state of New Zealand's public finances as part of its long-term fiscal forecast. Record levels of Government spending, increasing health costs and an ever-growing aging population are among the concerns set to create additional fiscal pressures for the country, according to new reports. Treasury warned Net Core Crown Debt is set to hit 200 percent of GDP by 2...

A grim outlook from business leaders.  The Herald's annual Mood of the Boardroom survey shows business leaders are less optimistic about the economy than they were a year ago.  They’re calling for more bipartisanship when it comes to tax, retirement, and the long-term outlook for New Zealand.  NZ Initiative co-founder and Chair Roger Patridge told Francesca Rudkin the business...

Our next Reserve Bank Governor is being commended for her track record in Sweden.  Dr Anna Breman —the First Deputy-Governor of Sweden’s central bank— will lead our central bank from December.  Swedish economist Selva Baziki says the Swedish economy is similar to New Zealand's.  And she told Mike Hosking Breman and her colleagues successfully reined in inflation wi...

A view that small businesses may suffer and not be able to survive if the Government's surcharge ban comes into play.  Commerce Minister Scott Simpson announced the ban on surcharges like PayWave will be in place by May next year.   In an open letter, 36 Chambers of Commerce, industry and business associations warn the ban will just be passed on through increased prices.  North Cham...

The Commerce and Consumer Affairs Minister is not sharing the same fears as retailers over the surcharge ban. Scott Simpson says the legislation banning surcharges like PayWave is before the Select Committee and will be in place by next year.  36 business associations have written a letter warning the ban could be passed on through increased prices. Simpson says a lot of businesses don't use...

The Swedes do central banking a little different to us, and I reckon it's good news we've got a Swede in charge. Riksbank - their RBNZ equivalent - is really big on this thing called transparency. There's three things to know - this is stuff they do that we don't, currently. 1. They rank amongst best performing on openness and honesty in the world. 2. They publish an actual forward forecast for th...

Nicola Willis admits the economy isn't where the Government would like it to be.  The Herald's annual Mood of the Boardroom survey shows business leaders are less optimistic about the economy than they were a year ago.  Only a third of respondents back the Government's current growth agenda.  The Finance Minister told Mike Hosking they're hearing the call for harder, faster action,...

Changes to the Holidays Act have been welcomed by businesses as long overdue. The new system will include accrual for sick and annual leave. The Government says it will be two years before these changes are implemented. But Restaurant Association boss Marisa Bidois told Francesca Rudkin the industry wants a faster timeline. She says while she understands the need to update systems, some of their s...

Business NZ says the Government's making workers leave simpler and more cost-effective. It's announced a new hours-based annual and sick leave accrual system, including flexibility of being able to take only the hours needed off work rather than a full day. It'll also mean part-time workers will no longer have a minimum sick leave entitlement. Business NZ's Paul Mackay says leave's always been acc...

Businesses are hopeful an overhaul of the Holidays Act will give them clearer leave guidelines.  The Workplace Minister will announcing a change to the 2003 Act today.  Business Canterbury CEO Leeann Watson told Francesca Rudkin the current legislation is far too complex.  She says businesses have almost needed an advanced calculus degree to meet their obligations.  LISTEN ABOV...

There are still grey areas in the Government's proposed leave legislation.  The Government's announced a new system to replace the 2003 Holidays Act.  Coffee Club Director Brad Jacobs told Mike Hosking while some parts still need clarity, the proposal appears to solve many issues.  He says as long as he's been in New Zealand, the Act has caused problems, and he's concerned by the lo...

Nicola Willis says there's been a clear message to all ministers - we don't want the billions recently allocated for infrastructure sitting in Government bank accounts. A small scale hospital project announcement yesterday and a school property maintenance announcement today have both talked up the boost they'll give the construction sector in the coming 12 months. The Finance Minister says they w...

Last week's GDP data prompted disappointment from many - but how did the markets react? GDP figures show a worse dip in the economy than economists and the Reserve Bank expected, with a fall of 0.9 percent in the June quarter. Harbour Asset Management's Shane Solly explained further. LISTEN ABOVE The podcasts in the SME Stream contain general information only, not financial or profession...

The economy had a worse than expected drop in the June quarter, shrinking 0.9%.  Finance Minister Nicola Willis has blamed it on global turmoil, but the Reserve Bank of New Zealand says there's a need to provide more stimulus to the economy by cutting the OCR.  LISTEN ABOVE The podcasts in the SME Stream contain general information only, not financial or professional advice. An...

When a business fails, it’s not just owners and staff who feel the impact. Customers can be left out of pocket, without products, or fighting to recover deposits. PWC’s John Fisk joins Nadine to explain why more Kiwi companies are likely to collapse, the industries most at risk, and the red flags to look out for before handing over your money.  The podcasts in the SME Stream conta...

How much blame for the GDP drop can be placed at the feet of the Reserve Bank?  GDP's fallen 0.9 percent in the June quarter – a much sharper drop than economists had been expecting.  NZ Initiative Chief Economist Eric Crampton told Kerre Woodham what we’re feeling is an effect of getting inflation back in line, but he wouldn’t necessarily blame the Reserve Bank for the...

The news came in around quarter to 11 yesterday, and it was unwelcome confirmation of what many people had been experiencing, had been feeling. The economy had contracted, and worse, it had shrunk 0.9%, far worse than economists had been predicting.   Economists at the Reserve Bank had forecast the economy would shrink just 0.3% during the June quarter. Retail banks said, "Oh, I don't think s...

Former finance minister Roger Douglas has called for current finance minister Nicola Willis to resign.  He says that the decrease in the country’s GDP is not in line with the global economic downturn and that Willis should be held accountable.  Senior political correspondent Barry Soper told Heather duPlessis-Allan that a resignation is unlikely.  'You'd have to go back then t...