A distinctly colonial institution, banking has long ignored te ao Māori. Teaho Pihama believes investment in tikanga Māori at Kiwibank can have significant, positive outcomes for Māori. In early 90s Tāmaki Makaurau, when Teahooterangi (Teaho) Pihama was growing up riding his bike around the streets of Kingsland until the streetlights came on, the inner city … Read more
Simon Day spoke to Charlotte Ward, chief people officer at Kiwibank, about what it was like to return to Aotearoa in the middle of the Covid-19 pandemic. Charlotte Ward has constantly been on the move. Now, she’s found her way home and doesn’t plan on going anywhere any time soon. The newly appointed chief people … Read more
In new series Coming Home, Duncan Greive and Jane Yee meet some of the many highly skilled New Zealanders who’ve returned in 2020 to hear their stories and explore what their return means for all of us. The pandemic has handed New Zealand a once-in-a-lifetime opportunity – how do we stop it slipping through our … Read more
Kiwibank has officially moved into its new Auckland home – a building with a Six Green Star Certification near Wynyard Quarter. Michael Andrew went to see how sustainable a building has to be to earn so many stars. In late 2019, when fans at Eden Park were sipping away at Sprite, Coke and L&P while … Read more
For most businesses, applying for capital can mean a mountain of paperwork and precious time spent, so Kiwibank has provided a quicker way to do it instead. The idea of a business doing so well that it’s expanding seems bizarre in this day and age. It flies in the face of the economic climate and … Read more
After decades worrying about the ‘brain drain’, thousands of high-achieving New Zealanders are coming home at once. Duncan Greive looks at what they’re bringing with them – and the potential they have to help our imperilled economy. Originally published in August, this story has now become the five part podcast, Coming Home. In Coming Home, … Read more
The end of the wage subsidy is expected to trigger an avalanche of financial hardship requests. Budgeting services and financial mentors are bracing to meet it head on. It’s been a surprisingly quiet few months for most of New Zealand’s budgeting services. Spending was down during lockdown and with more than a million people tended … Read more
Despite dark clouds on the horizon, New Zealand’s post-lockdown spending spree is still going strong. Mary Jo Vergara from Kiwi Economics shares insights into what’s driving it – and how long it will last. Covid-19 and the level four lockdown has bought about some dramatic shifts in New Zealanders’ spending and consumption habits, and many … Read more
With the Covid-19 lockdown casting a light on the value of essential workers, the movement to pay them the living wage is gathering momentum. Every night at corporate and government buildings across the country, long after most of the day workers have gone home, a largely unseen labour force of cleaners and security guards arrives … Read more
This month, Kiwibank reset its variable interest rates by 1%, from 4.40 to 3.40%. Kiwibank’s general manager of business banking Nigel Gaudin tells The Spinoff why this is a big deal for local businesses. Okay, what is a variable interest rate? And what have you done to it? A variable interest rate, sometimes called a … Read more
If you own a small- or medium-sized business, finding and accessing financial support amid all the noise and information can be overwhelming. So we’ve put together a list of what’s out there. Government support The Covid-19 wage subsidy With $11 billion paid out over the past three months, the government’s wage subsidy is the first … Read more
Based on the latest Kiwi Economics data, Kiwibank senior economist Jeremy Couchman explores what fresh economic shoots could be growing in the fertile ground left by Covid-19. New Zealand has done extremely well to crush the Covid-19 curve and allow the rapid reopening of the economy. At Kiwibank we have been pleasantly surprised at the … Read more
Budget 2020: The government has unveiled a massive $50bn spending package, including an eight week extension to the wage subsidy. Duncan Greive asks the business community: is it enough? The government this afternoon unveiled a massive new $50bn programme of spending – “much bigger than anyone expected”, according to Kiwibank senior economist Jeremy Couchman. The … Read more
One of the success stories of the level four lockdown, SOS Business has provided a channel for incapacitated communities to send support where it is needed most. In the frenzied 48 hours before level four took effect, when packs of Cottonsoft were being ripped off supermarket shelves like the last lifejackets on a sinking ship, … Read more
In the second part of our new series with Kiwibank answering your questions about Covid-19’s impact on New Zealanders’ finances, a reader asks what the mortgage holiday offer is and what it would mean for their repayments. Kiwibank’s Nicole Pervan responds. Dear Nicole, I’d like your help in understanding the mortgage holiday offer. I am … Read more
In the first part of our new series with Kiwibank answering your questions about Covid-19’s impact on New Zealanders’ finances, a reader asks about ways to get their business through the economic downturn and take advantage of new opportunities. Kiwibank’s Nigel Gaudin responds. Dear Nigel, I run a small retail business with five staff and … Read more
With more New Zealanders feeling isolated, anxious and stressed from the Covid-19 effect, the need to take a moment and establish a sense of calm has never been more important. That’s where a new free app can help. In late 2018, when mental health advocate and All Black legend Sir John Kirwan launched his company … Read more
In times of economic uncertainty, good information can be an invaluable commodity. So we’ve been working on a way to channel it to you. For many people, knowing what to do in our radically changing economy is like trying to figure out what to do when the power in your house stops working. You’re at … Read more
Kiwibank’s chief economist Jarrod Kerr looks back to SARS, and into the future, to help make sense of this once-in-a-generation economic storm. Covid-19 has drawn comparisons to the 2003 SARS outbreak, but those who lived through that should know that this is a very different era. Hits to our short-term confidence, business’s supply chains and … Read more
Jennifer Ward-Lealand’s dedication to acting, directing and te ao Māori saw her named the 2020 Kiwibank New Zealander of the Year at a special dinner in Auckland last night. Alice Webb-Liddall speaks to her about how she hopes to nurture the future of the craft that has given her so much. Back in the 80s … Read more
Changes to GST for overseas retailers came into effect on December 1. What do these changes mean for consumers, local businesses, and the online shopping market in New Zealand? This Christmas thousands of smart Kiwi consumers have done a lot of their gift shopping online. After all, it seems a waste of time to join … Read more
At this time of year, small debts can put people living on low incomes into huge hardship. A microfinance provider is doing their bit to lift people back up again. The financial pressures that come with the holiday period are difficult enough for any family to manage. They become a lot harder when there already … Read more
What the B Corp certification actually means and why it matters. Five decades ago, economist Milton Friedman was concerned about business accepting a social responsibility. In an oft-cited 1970 essay for The New York Times Magazine, Friedman argued that while CEOs could feel an individual responsibility to society around them, “a corporate executive is an … Read more
He was the prototypical high school nerd, hanging on Don Brash’s every word. Then the financial world turned upside down. This is the story of how Kiwibank’s Jarrod Kerr became a most unconventional economist. In 2008, Jarrod Kerr was working at the Commonwealth Bank of Australia when the global financial crisis hit like a financial … Read more
Business confidence is at its worst level since the financial crisis and interest rate cuts aren’t doing the job. The government needs to step up, writes Kiwibank chief economist Jarrod Kerr. Business confidence is crumbling. In two surveys out this week firms have highlighted weak demand, capacity constraints, government policy uncertainty, and poor pricing power … Read more
Sustainability is no longer just a ‘nice to have’ for businesses – it’s as pivotal as profit to their long term survival. For as long as any of us can remember, sustainability and profit have been at odds with one another. Profit means efficiencies and efficiencies mean doing whatever it takes to do things faster, … Read more
Adrian Orr has brought out the big guns to put a sorely needed bomb under the New Zealand economy and now the government needs to do its bit, a top economist says. The Reserve Bank’s decision to slash interest rates is a good move that shouldn’t come as a surprise, Kiwibank chief economist Jarrod Kerr … Read more
The 2019 budget put aside $300m for venture capital for small to medium-sized startups with the hope it will allow businesses to grow locally and stay in New Zealand for longer. In a small rural town on the east coast of the North Island a cannabis-growing business is planning for the future. The first seed, … Read more
The incoming R&D tax credits scheme makes government research and development incentives available to a much wider range of Kiwi businesses. But there are caveats to be aware of, reports Jihee Junn. You don’t need to know a whole lot about business to understand the value of R&D. It’s what keeps businesses competitive, sustainable and … Read more