Voting is under way in the New Zealand general election. Explore the main parties’ pledges at Policy.nz, but here’s a whistlestop tour of what’s on offer for small businesses. Read more two-minute policy wraps here Small businesses have long been considered the bread and butter of New Zealand’s economy, accounting for 28% of all employment … Read more
Businesses in an iconic central Auckland food court continue to face threats of closure from their landlord. Now they’ve turned to the public for help. Several besieged businesses at Elliot Stables have failed to come to a resolution with their landlord, the Icon Group, which last month issued Property Law Act (PLA) notices giving the … 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
With more than 1,000 local businesses on its books, MyHR saw firsthand the pressure the Covid-19 fallout put on New Zealand’s SMEs, as well as having its own business model tested to the limit. New Zealand’s Covid-19 lockdown had a seismic effect on human resources departments. In order to stay afloat through the chaos, thousands … Read more
The true economic turmoil of the Covid-19 downturn is yet to be felt. However, some family operations are old enough to have endured – and survived – many of these types of shocks before. Every once in a while, at Gemmell’s shoe and bag repairer on central Auckland’s Symonds St, a customer brings in a … Read more
Covid-19 forced both shoppers and small businesses to quickly adapt to a digital-only world. As life returns to something closer to normal, Visa’s Marty Kerr explains how businesses can respond to consumers’ changed habits. It’s a situation so outlandish, not even the most doomsday-prepared could’ve had a plan in place. Before March 25, when the … 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
Real data shows SMEs are in good health, yet business confidence is down. Three issues need tackling, writes Xero’s David Bell, to reshape the way we view the small business economy. Business confidence survey questions have been the lifeblood of how many view the economy for too long. Significant national business decisions are being made … Read more
Rohan Hill and Ian Jorgensen are having so much fun running their boutique audio equipment firm that no amount of money could make them sell. Wellington electronics manufacturer Synthstrom Audible can only just keep up with demand for its flagship product. Engineer and musician Rohan Hill developed the portable Deluge synth/sequencer/sampler – “in my bedroom, … Read more
From faster payments to ‘burden hunters’ that will hunt down and cut red tape, the government has announced a set of initiatives to make life easier for SMEs. Given it was actually quite good news the government’s announcement of measures to help small businesses flew surprisingly under the radar this week. Its biggest early Christmas … Read more
A corporate undertaker talks top tips for making sure you get paid, reining in rogue liquidators, and having a heart for those who’ve lost money. PwC’s John Fisk has handled high profile company failures from Pike River to Lombard Finance and the Ross Asset Management Ponzi scheme. He also chairs the catchily titled Restructuring Insolvency … 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
Moves to finally outlaw the exploitation of dependent contractors is vindication for a pair who battled for years on their behalf. A former truckie and a high-profile lawyer who have spent a decade fighting for the little guy are claiming victory following the government’s announcement it will change the law to protect small operators. Peter … Read more
Record low borrowing costs are a precious opportunity for business owners who now need to make savvy decisions about what to do with the cash. The experts may have been caught off-guard when the Reserve Bank opened fire on interest rates earlier this month, but the fact of the matter is the Kiwi economy needs … Read more
Longed for stirrings in the local investment sector are a positive sign that New Zealand businesses may be able to keep calling Aotearoa home. What do hydrofoiling freight boats, chicken-free chicken and a customer feedback platform have in common? Not much, except that they are the first Kiwi businesses to be backed by Australian investor … Read more
A new law makes domestic violence a workplace issue but does not spell out how businesses should respond, and even allows the employer to seek proof, writes Shine’s Holly Carrington. Within a few months of moving in together, Carol’s love for her boyfriend had turned to fear and she stopped blaming herself for the violence. … Read more