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

 

Scoop Business: NZ Wool Exports Jump To The Highest In More Than A Decade

New Zealand wool exports jumped to their highest level in more than a decade in June, aided by a lower currency and strong demand from China, the nation’s largest market. More>>

ALSO:

Surreal Estate: Home Values Rise At Fastest Rate In Seven Years

The latest monthly QV House Price Index shows that nationwide residential property values for July have increased 10.1% over the past year which is the fastest annual rate since 2007... The Auckland market has increased 18.8% year on year. More>>

ALSO:

New Employment Laws: Talley’s AFFCO Workers To Strike

The decision comes after the Talley’s owned company walked away from mediation last week and applied to end bargaining under the government’s new employment laws - the first such application since the law came into effect. More>>

ALSO:

Private Action: Employer Pleads Guilty Over Forestry Death

The CTU has always known that the death of forestry worker Charles Finlay was due to the poor health and safety practices of his employer... "The CTU, with the support of Charles’s family, needed to take this ground breaking private prosecution." More>>

ICT Innovation: Six NZ Finalists In World Summit Awards

The awards are a global showcase of 40 projects, across eight categories, with a special emphasis on those which show the benefits of information and communication technology for the development of communities. New Zealand has finalists in six of the eight categories. More>>

ALSO:

Final Frontier: Rocket Lab And NASA Sign Commercial Space Launch Agreement

Rocket Lab has signed a Commercial Space Launch Act Agreement with the National Aeronautics and Space Administration (NASA). The agreement enables Rocket Lab to use NASA resources - including personnel, facilities and equipment - for launch and reentry efforts. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news