The SME Stream

Our economy's been shrinking much faster than economists thought.  Latest data just out from Stats NZ shows GDP fell 0.9% in the three months to June.  That follows six months of growth, after six months of contraction.  Infometrics Chief Forecaster Gareth Kiernan told Kerre Woodham it's far worse than any economists were expecting.  He says this number is completely "off the c...

Finance Minister Nicola Willis says a new Reserve Bank Governor will be announced “very shortly” as she comes under growing pressure to tackle New Zealand’s economic woes. Economists are calling on the Reserve Bank to cut the Official Cash Rate more aggressively after yesterday’s shock GDP result. New Zealand’s gross domestic product (GDP) fell by 0.9% in the June qua...

Sir John Key says the Reserve Bank deserves much of the blame for the latest sharp drop in GDP.  Our economy's contracted 0.9% in the June quarter.  The Government says international turmoil and uncertainty over tariffs have driven the fall, which was much larger than expected.  Key told Mike Hosking the OCR was also a major factor.  He says two months ago he was criticised for...

Nicola Willis says uncertainty over Donald Trump's tariffs drove down GDP in the June quarter. But the Finance Minister admits has admitted she was surprised to see the economy's contracted 0.9 percent. She says there was consensus that GDP would drop, but most forecasts had it at 0.3 percent. LISTEN ABOVE The podcasts in the SME Stream contain general information only, not financial or...

Well, I think it's fair to say that the GDP print has come in at something of a shock. The Reserve Bank was picking a contraction of 0.3 percent. The consensus was a contraction of 0.4 percent. The worst-case prediction from one of the banks was a contraction of 0.5 percent. It's come in at a contraction of 0.9 percent, which is basically twice as bad as most of us thought. Now, the immediate prob...

Having argued the other week for compulsory KiwiSaver, it was sort of ironic, but probably lucky, that several reports came out post the comments that wanted the same thing.  Then enter Winston who wants it as well, and will pay for it, apparently with tax cuts.  Of course the tax cuts are completely unaffordable, but it doesn’t make the compulsion a bad idea.  I personally am...

Has Nicola Willis failed on growth in her year of growth?  So far, yes. We’ve gone nowhere in six months - Q2 basically wiped out Q1.  Should she resign? No. Why? Trump’s tariffs. Nobody saw them coming. Markets thought he was bluffing, a negotiation tactic. Until he wasn’t. Businesses and Mums and Dads sat on their cash to wait it out - a reasonable response to an unce...

In this bonus episode of The SME Stream, brought to you by BNZ, host Wilhelmina Shrimpton sits down with Tim Wixon, BNZ's Head of Technology Industry - Growth Sectors, and Connor Archbold, Co-founder and Co-CEO of the online brand tracking platform Tracksuit. Together, they unpack BNZ’s latest Growth Levers Insight Report, offering valuable insights to help your business grow and succeed.&nb...

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, Our GDP has taken a massive hit, the tourism and events sector gets a cash injection and new gender inves...

Another warning from Labour for its potential coalition partner Te Pāti Māori.  MP Takuta Ferris has twice attacked ethnic Labour party volunteers who sign-waved in the Tamaki Makaurau by-election, claiming they were taking a Māori seat away from Māori.   Party president John Tamihere echoed Ferris' comments yesterday, despite the party previously apologising.   Chris Hipkins told J...

Three months ago, Mark Rocket strapped in for a ride aboard Blue Origin’s New Shepard sub-orbital launch vehicle, and in the process became the first Kiwi to enter space.  The experience was a culmination of years of anticipation and some unexpected twists for the tech entrepreneur who was a pivotal, early investor in Rocket Lab and went on to form his own venture Kea Aerospace. Joining...

Liam Dann sits down with broadcaster Sam Wallace to explore the financial realities behind the glitz and glamour of fame. Sam opens up about the pressures of maintaining a public image, the unexpected costs of staying relevant, and the personal sacrifices made along the way. From hair transplants to high-end home furnishings, the conversation delves into the hidden expenses that come with a career...

New GDP figures are set to be unveiled tomorrow, and there's concerns from experts that the economy is struggling. The upcoming GDP data is projected to show an economy under pressure, as earlier forecasts of an incoming rebound look less and less likely. Newstalk ZB senior political correspondent Barry Soper says the Finance Minister is trying to soften the blow and put things in perspective. LIS...

The Government is looking to move forward with plans to change who is liable for defective building work, and it's raised questions about what this could mean going forward. For decades, all parties involved in a build have been jointly liable for problems, with local councils mostly picking up the tab. NZ Herald Wellington business editor Jenee Tibshraeny explains further. LISTEN ABOVE The podcas...

An economist is predicting a gloomier number than the Reserve Bank from the latest GDP figure.  Stats NZ data on GDP for the year's second quarter will be released today.  The Reserve Bank's predicting a 0.3 percent drop.  BNZ Chief Economist Mike Jones is a picking a 0.5 percent fall.  He told Ryan Bridge economic growth is probably going to be slow for a while.  Jones sa...

New Zealand’s creative sector has much more impact on the economy than commonly believed.  The sector is now the country’s fourth-largest export industry, worth $13 billion a year and supporting 100,000 jobs.   It’s also more productive than agriculture, with each worker generating $346,000 a year compared to $317,000.  Toi Mai Workforce Development Council CEO Cla...

The latest Rabobank survey's found farmers' faith in the broader agricultural economy is at its second highest level in the last decade, up to 46 percent. 51 percent expect it to improve in the year ahead - up three percent from the last quarter. Agriculture Minister Todd McClay told Ryan Bridge it's pleasing to see - as it's good for the country's economy. He says when the primary sector's doing...

Chris Hipkins says Kiwis are starting to see things are going backwards under the current Government.  The latest RNZ-Reid Research poll reveals more voters blame the coalition for the struggling economy, than the previous Labour Government. This is despite senior Cabinet Ministers claiming a financial mess was left behind by Labour. Hipkins says Labour will set out ways it could improve the...

The influence of the New Zealand-made label appears to be decreasing as more consumers prioritise price.  Wattie's is ending some of its contracts with Hawke's Bay peach growers and says more people are choosing imported alternatives.  It says the demand for New Zealand-grown peaches has seen a steady decline in recent years. Consumer NZ Acting Head of Research and Advocacy Jessica Walke...

New data suggests New Zealand's economic turmoil is far from over. New economic data from Stats NZ prompted BNZ to increase its estimate of the size of the contraction in the economy in the three months to the end of June. Harbour Asset Management expert Shane Solly explained further. LISTEN ABOVE The podcasts in the SME Stream contain general information only, not financial or professio...

Our largest sector is continuing to do it tough.  Latest data from BNZ and Business NZ shows our services sector —which makes up almost three quarters of the economy— has contracted for the 18th consecutive month.  Our manufacturing sector is also back in contraction after a period of growth.  Business NZ Chief Executive Katherine Rich told Mike Hosking we're still seein...

Last week, New Zealand First leader Winston Peters announced plans to campaign for compulsory KiwiSaver at the next election, and increase the minimum contribution from 4% to 12%.  He said there would be tax cuts alongside these changes to help fund the increase in contributions.  LISTEN ABOV The podcasts in the SME Stream contain general information only, not financial or prof...

Sudden money can feel life-changing, or like a trap. Financial planner Liz Koh joins Nadine to discuss how to handle a windfall without blowing it, from clearing debt to protecting relationships and securing your future. The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared...

Hasn’t working from home become funny?  Seek have produced a thing called Money Matters, and they look at work-life balance.  Actually, hasn’t that become a thing as well – work-life balance. I can't place it exactly, but it seems like a Covid thing. The world changed and so did we.  Working hard is now so last year, or so last decade. We all long for work-life bal...

Over the last few years, more international retail giants have moved to establish themselves in New Zealand. Costco opened its first store in West Auckland a couple of years ago, and Ikea is set to open up its first New Zealand-based store in Auckland in December. Fisher Funds expert Sam Dickie reveals why these changes are taking place. LISTEN ABOVE The podcasts in the SME Stream contain gen...