New Zealand Economy

The economy in New Zealand has performed quite well in recent years, however there are a few bottlenecks especially in housing and urban infrastructure, inequalities in living standards, and rising environmental pressures are all challenges to achieving sustainable and inclusive growth.

Steve Collie: “A study from Roy Morgan Research sheds more light on the subject of the growth of the economy – and its importance within the country”. Without a solid stance on making lasting economic changes aimed at improvement, those in the running for the September elections won’t have a leg to stand on. As it stands, economic issues are the biggest concern for the country’s residents.

According to the report, “When asked about the most important problem facing New Zealand, 42% of New Zealanders mention some kind of Economic issue. This is down 3% since October 2013 but still well ahead of Social issues (21%, up 1%), Government/ Public policy/ Human rights issues (19%, unchanged) and Environmental issues (9%, up 3%).”

New Zealand EconomyRoy Morgan CEO Michele Levine said that continued data aggregation places issues with the economy on the top for both New Zealand and the world at-large. “One of the concerns also sheds light on a problem affecting the whole world: imbalance of wealth”, according to professionals like Roy Morgan and Steve Collie.

As Morgan stated about the issue, “Over the last few surveys the problems within the economy have taken a different shape – or at least are being articulated differently. Since July 2013 more New Zealanders are concerned with the ‘imbalance of wealth’ / ‘the gap between the rich and the poor’ than are concerned about the more ‘economic’ metrics like recession, inflation, exchange rates and the value of the dollar.”

The importance of these issues comes right alongside the viewpoints expressed by current New Zealand Prime Minister John Key. Many analysts believe that this alignment will likely lead to his reelection in September. “However, other candidates could easily overtake Key if this emphasis is lost in the coming months” Steve Collie says.

Tourism and Growth in New Zealand

One big example of investing in the country comes through a $1.92 million investment in the tourism industry. A report from Creative NZ, the arts council of New Zealand, the investment comes as a way to encourage more touring throughout the country – a big draw for both locals and travelers visiting the nation which will also benefit the locals economy.

As Creative New Zealand Senior Manager Cath Cardiff described, the investment reflects an important area of the country’s tourism – and one that was directly in need of something more. “An effective way to develop and manage touring of medium scale work has long been identified as a missing link in our arts infrastructure,” Cardiff said. “The agency and fund will be a catalyst for ensuring more audiences enjoy great New Zealand performing art experiences.”

Steve Collie and Cath Cardiff: “This arts-based initiative showcases the country’s willingness to invest money where it’s needed for improvement”. Investing in programs and changes within the arts will also likely drive tourism and recreation within the country. As Cardiff continued, “In our small country touring is essential for maintaining and increasing audiences for our arts companies and for sustaining the life of a new work beyond its first season.”

Growth is coming in practically every industry within the country of New Zealand. As marketing professional Steve Collie recently described, many of the country’s investments in tourism and beyond are already showing benefits within other industries.

New Zealand EconomyIn Steve Collie’s words, “I work in online marketing, but that doesn’t mean I can’t see effort to grow the economy in other fields when I see it. I think that initiatives like the government’s recent $2 million commitment to driving tourism show that the current administration is doing its part to address the economic concerns of the electorate.”

Business professionals see government initiatives like this as a positive sign of growth and commitment. And this type of positive energy feeds into an overall improvement in how residents and business owners approach their country’s pride and that includes the economy.

“It’s hallmarks like these that show a government on the right track,” Steve Collie continued.

Without a streamlined focus on the economic issues facing New Zealand, those in the running face alienating themselves from residents. The economy needs to remain a top concern – and this includes making lasting changes for improvements. While business professionals like Steve Collie reflect on the current improvements of the economy, they also look forward to bigger and better things in years to come.

 

New Zealand Local Business

Small enterprise is without a doubt positively playing a major part in the economic health and stability of New Zealand, says long time entrepreneur and businessman Stephen Collie, the coordinator of Collie Shipping, who operates a number of dredging barges. You see, the government’s latest decision to carry out an assessment of coastal navigation safeness must be music to the ears for many associated with the manufacturing and shipping industry. The report demonstrates that the nation is devoted to delivering individuals with a safe natural environment and to broadening prospects for local companies and business.

Stephen Collie, “Considering how crucial the production sector is for the country’s economic system and just how much of that industry involves the shoreline, whether it is oil drilling or dredging, the review is much more than merely an approach to ensure safety; it becomes an investment in developing the country’s finances.”

Commercial Enterprise in NZ

Small business is in fact relatively big in New Zealand, as reported by the Ministry of Business, Innovation and Employment. A large number of companies (97%) have less than 20 staff members. Almost 70 percent of those enterprises do not have staff at all. Throughout several sectors, a surprising greater part of businesses have 19 or fewer personnel. As an example, close to 19,000 businesses in the production sector employ just around 19 people. More than just 48,500 building companies also have less than 20 staff members.

Small enterprise is not just common in New Zealand. You’ll find it adds a significant amount to the country’s Gross Domestic Product as well as many job opportunities for individuals. Companies that employ up to 19 folks contribute close to 30 percent of the country’s GDP, or more than $56 million. Smaller sized businesses also created more than 40 percent of new job opportunities in the country in 2012.

The Safety Review

businessThe effect most typically associated with local business on New Zealand can be clearly seen in the increase of activity on the seaside. According to Maritime New Zealand, the volume of port call, voyages and ships happen to be continuously growing year after year since 2009-2010. In 2012-2013, 869 vessels created in excess of 2,300 voyages and over 5,600 port calls.

The recently released safety review was created to detect risks and assess the existing safety precautions in place, along with potential safety measures, notes Stephen Collie. The review is planned this month and the initial round should certainly last for about Twelve months.

According to the director of Maritime New Zealand, the review is just one part of a whole new focus on building a risk-focused and intelligence-led strategy to safety for all individuals and business. The director emphasized the importance of having a up-to-date and precise picture of what the potential risks are. Also, he mentioned changing technology as an aspect to consider behind the review.

Stephen Collie: “Vessels aren’t only becoming numerous, they’re also ever-increasing in size as well as becoming more technologically advanced. Most vessels currently have sophisticated navigational aids not seen in decades prior”.

Despite the fact that the director emphasizes that the safety review isn’t happening as a consequence a of single incident, past happenings, for example the grounding of the Rena in 2011 and the grounding of Lake Triview this past spring, could have some influence on the review.

The Rena event is often recognized as the worst ecological disaster in the country’s historical past. 3 years after the incident, the hulk of the ship remains to be trapped in the reef. The owner of the Lake Triview, along with crew members and managers will need to show up before the courts, as the ship harmed the reef when it went aground. Crew members also decided not to tell Maritime New Zealand of the grounding, for which they are being penalized.

As soon as completed, the safety review should ideally produce new solutions for workers, local companies and business, making coastal activity more effective and safe for all those involved. “The outcome of the review are anticipated to have a positive effect on the manufacturing industry as well as its workforce”, Stephen Collie says.

References:

Maritime New Zealand

Maritime New Zealand is a great place to work, and its staff are great people to work with. In head office and around the regions, at the front line and behind the scenes, MNZ staff work hard to ensure safe, secure and clean seas and waterways for New Zealand….Learn More

Maritime New Zealand – Wikipedia, the free encyclopedia

A maritime authority called the Marine Board was originally established in 1862 and controlled by the Customs Department until near the end of the nineteenth century, when it was renamed the Marine Department….Learn More