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

 


NZ-owned, NZ’s profits, nz.coop

5 May 2014

NZ-owned, NZ’s profits, nz.coop

If New Zealand is the world’s rock star economy, then cooperatives would be the drummer in the nation’s band.

So says Cooperative Business New Zealand which represents the interests of this country’s cooperative companies. ‘Co-ops’ - as they are sometimes known - account for three percent of New Zealand’s gross domestic profit (GDP), employ 43,000 people and turn over $41 billion a year.

Economist Paul Bloxham made headlines in January for saying the Kiwi economy would be “the rock star economy of 2014".

Applying the musical metaphor, Cooperative Business New Zealand Chief Executive Ian Macintosh says co-ops keep a strong and steady beat throughout the country and across a range of commercial activities.

“New Zealand-owned enterprises producing New Zealand-retained profits, New Zealand cooperatives are as ‘100% New Zealand’ as you can get,” he says.

“Cooperatives operate in a fluid and ever-changing international environment, withstanding the tests of time and including many intergenerational firms. Co-ops deserve recognition as a sustainable and highly successful business model.

“This current government and those who aspire to the treasury benches should acknowledge the significance of the co-op sector and help these community-based, internationally-competitive enterprises to contribute more to the rock star performance,” says the former trade executive.

“Cooperative Business New Zealand sees government’s role as providing a fair regulatory framework for businesses of all types.

“The recent offering of shares in state-owned power companies has been undertaken under the so-called ‘shared ownership model’ – a concept which Kiwi taxpayers are offered a share in a 51% stake but which does not guarantee New Zealand ownership at the end of the day.

“The government might wish to consider the co-op model for some of its other non-core enterprises, the key difference being a 100% New Zealand stake is guaranteed.

“Education is one area where the UK has applied co-operative principles to great effect, Manchester’s Cooperative Academy being a good example. This success could be repeated in New Zealand where charter schools are already changing the academic landscape.

“Kiwis come into contact with cooperatives every day – from their daily milk and groceries, to car repairs, DIY materials and banking. They are truly the nation’s heartbeat being New Zealand businesses run by and for their members, serving their communities and proudly representing the country on the world stage.”

Bringing together the country's cooperative businesses in a not-for-profit incorporated society, Cooperative Business New Zealand:

• promotes the cooperative business model;
• encourages and supports New Zealand cooperative enterprise;
• acts as a representative society for those engaged as cooperatives;
• promotes discussion and cooperation with decision-makers at all levels of government designed to further the interests of cooperatives;
• facilitates and coordinates services, expertise and research in support of the cooperative business model;
• collects, verifies and publishes relevant and useful information relating to cooperative enterprise.

For more information visit nz.coop

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Gordon Campbell: On The Australians Scoring Trade Points Against Us With The Chinese

It hasn’t been a great year for Trade Minister Tim Groser... To top it off, Australia has just signed a FTA with China that has far better provisions on dairy exports than what New Zealand currently enjoys in our own FTA with China. More>>

ALSO:

Iwi & Local Consultation: Oil And Gas Block Offer 2015 Begins

Energy and Resources Minister Simon Bridges today announced the start of the Block Offer 2015 process for awarding oil and gas exploration permits. More>>

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news