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: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Scoop Business: NZ Broadcasters Launch Battle Against Global Mode ISPs

New Zealand broadcasters have confirmed they’ve launched legal proceedings against internet service providers who give customers’ access to “global mode”, which allows customers access to offshore online content, claiming it breaches the local content providers’ copyright. More>>

ALSO:

Sanford: Closure Of Christchurch Mussel Processing Plant Confirmed

The decision comes after a period of consultation with the 232 staff employed at the Riccarton site, who were told on 9 April that Sanford was considering the future of mussel processing in Christchurch. Recent weather patterns had impacted on natural spat (offspring) supply... More>>

ALSO:

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Scoop Business: Reserve Bank’s Spencer Calls On Govt To Rethink Housing Tax

The Reserve Bank has urged the government to take another look at a capital gains tax on investment in housing, allow increased high-density development and cut red tape for planning consents to address an over-heated Auckland property market. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news