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.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Shocking Dairy Footage: MPI Failing Our Animals And Damaging Our Reputation

Greens “Nathan Guy needs to urgently look into how his ministry is enforcing animal welfare standards, how these appalling incidents happened under its watch and what it’s going to do prevent similar incidents happening again in the future." More>>


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news