Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZ Entrepreneurs confident in the face of OCR increase

NZ Entrepreneurs confident in the face of OCR increase


New Zealand’s Official Cash Rate increased this morning from 2.5 to 2.75 per cent, sending many new home buyers into despair. For New Zealand entrepreneurs though, the outlook is much different.

Tony Falkenstein, Communications Chair for the Entrepreneurs’ Organisation of NZ (and Director of Just Water International) says many NZ businesses are in a good position financially to face the increase.

“EO represents a range of entrepreneurs – SMEs from IT to Rubbish companies, Caterers to Vineyards – so we have a broad perspective on how economic issues affect the NZ business climate,” says Falkenstein

“Many business have already taken the opportunity to reduce or eliminate their debt over the Global Financial Crisis, so this increase in the OCR will largely have minimal to no effect on their operations. The vast majority of the businesses and business sectors we represent are now in a far more efficient place to face any increases in interest rates associated with this change.”

New Zealand is a country built on small business; of the 146,230 employing enterprises in NZ, 133,020 (91 per cent) have fewer than 20 employees. The way NZ business owners think and operate has a big effect on the country’s economy; so when NZ SMEs are positive that’s good for the country, Falkenstein says.


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business:
NZ Puts Seven New Oil And Gas Areas Put Up For Tender

A total of seven new areas will be opened up to oil and gas exploration under its block offer tendering system, as the New Zealand government seeks to concentrate activity in a few strategically chosen areas. More>>

ALSO:

Half Full: Dairy Payouts Steady, Cash Will Be Tight

Industry body DairyNZ is advising farmers to focus on strong cashflow management as they look ahead to the 2015-16 season following Fonterra's half-year results announcement today. More>>

ALSO:

First Union: Cotton On Plans To Use “Tea Break” Law

“The Prime Minister reassured New Zealanders that ‘post the passing of this law, will you all of a sudden find thousands of workers who are denied having a tea break? The answer is absolutely not’... Cotton On is proposing to remove tea and meal breaks for workers in its safety sensitive distribution centre. How long before other major chains try and follow suit?” More>>

ALSO:

Scoop Business: NZ-Korea FTA Signed Amid Spying, Lost Sovereignty Claims

A long-awaited free trade agreement between New Zealand and South Korea has been signed in Seoul by Prime Minister John Key and the Korean president, Park Geun-hye. More>>

ALSO:

PM Visit: NZ And Viet Nam Agree Ambitious Trade Target

New Zealand and Viet Nam have agreed an ambitious target of doubling two-way goods and service trade to around $2.2 billion by 2020, Prime Minister John Key has announced. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news