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

 

Maritime: Navigation Safety Review Raises Big Issues For The Govt

Shipping Federation: "The reports makes it clear that the ratification of the Maritime Labour convention (MLC) is long overdue. Only when the MLC is ratified will Maritime NZ be able to inspect and enforce the labour conditions on international ships visiting our ports." More>>

ALSO:

100 Years After Einstein Prediction: Gravitational Waves Found

For the first time, scientists have observed ripples in the fabric of spacetime called gravitational waves, arriving at the earth from a cataclysmic event in the distant universe. This confirms a major prediction of Albert Einstein’s 1915 general theory of relativity and opens an unprecedented new window onto the cosmos. More>>

ALSO:

Farming: Alliance Plans To Start Docking Farmer Payments

Alliance Group, New Zealand's second-largest meat cooperative, plans to start withholding some stock payments to its farmers from next week to bolster its balance sheet and force suppliers to meet their share requirements. More>>

ALSO:

Gambling: SkyCity First Half Profit Rises 30%, Helped By High Rollers

SkyCity anticipates the Auckland business will benefit from government gaming concessions which were triggered on Nov. 11 in recognition of SkyCity’s $470 million Convention Centre development. Morrison said the concessions would allow the Auckland business to lift its activity during peak period, noting it had a record revenue week over the Christmas and New Year period. More>>

ALSO:

Money For Light: Kiwi Scientists Secure Preferential Access To Synchrotron

Science and Innovation Minister Steven Joyce today announced a three-year investment of $2.8 million in the Australian Synchrotron, the largest piece of scientific infrastructure in the Southern Hemisphere, to secure preferential access for Kiwi scientists. More>>

Telco Industry Report: Investment Hits $1.7 Bln A Year

Investment in the telecommunications sector is $1.7 billion a year, proportionately one of the highest levels in the OECD, according to a report released today on the status of the New Zealand sector. More>>

ALSO:

PGPs: New Programme Sets Sights On Strong Wool

A new collaboration between The New Zealand Merino Company (NZM) and the Ministry for Primary Industries (MPI), announced today, aims to deliver premiums for New Zealand's strong wool sector... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news