Category: Business

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Small Australian designers giving up on fighting fast-fashion giant Shein

Source: Radio New Zealand

Melbourne fashion designer Klaudia Burzynska has given up on trying to get her designs taken down from Shein.

Since she launched her business, Things You Really Like, on Etsy in 2020, Burzynska said she has found so many duplications of her designs — and even lifted marketing materials — on Shein she has lost count.

“The first time I saw them was when I was going through Pinterest and I got an ad from Shein of my own photos and my own T-shirts,” she said.

Things You Really Like Designer Klaudia Burzynska said Shein was also using her images.

ABC/Supplied

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Unemployment expected to get worse as fuel crisis impact yet to be felt

Source: Radio New Zealand

A total of 163,000 people were unemployed in the new data. 123rf

An economist is warning the unemployment rate is likely to get worse in the coming months and could reach up to 6 percent due to the Iran War.

The unemployment rate eased to 5.3 percent in the three months ended March, down slightly from the previous quarter.

A total of 163,000 people were unemployed, a fall of 2000 on the previous quarter but 7000 higher than a year ago.

Kiwibank chief economist Jarrod Kerr said Wednesday’s data was “very outdated”, and the full impact of the fuel crisis would be felt in the second or third quarter of this year.

Kiwibank was forecasting unemployment to reach 5.5 per cent, Kerr said, but there was a chance it could reach 5.8 or 6 percent if conditions didn’t improve.

Kiwibank chief economist Jarrod Kerr Supplied / Gino Demeer

“We are hearing of [construction] projects being post-poned, we are hearing of projects being cancelled, we are hearing of forestry crews being stood down because it’s too expensive to cut-down trees at the moment.”

He expected both surging air fares and flight cancellations in the wake of the Iran War to dent the tourism industry, including the regions, which had recently been performing well due to a strong export market.

“Tourism is the one we don’t hear a lot about. It was our largest exporter prior to Covid, more than dairy. Now dairy’s our number one.

“New Zealand’s got such a large tourism sector, so for that to be falling back, it’s a big negative for large parts of the country.”

Kerr noted the numbers of people who were employed but needed to work more hours – the underutilisation rate – which was stubborn at 12.9 per cent.

That wasn’t a good sign, he said.

“Businesses, they cut hours before they cut heads…so you’ve got a workforce, you’ve trained them, in many cases you’ve worked with them for years, and a crisis hits – you cut their hours before you cut their jobs…that’s where the slack shows up first.”

ASB chief economist Nick Tuffley told Midday Report said he expected the unemployment rate to reach 5.5 percent and would briefly stall the employment growth evident at the beginning of this year.

Bay of Plenty unemployment rate ‘surprising’ – mayor

Auckland, Wellington and the Bay of Plenty had the highest unemployment rates in the latest figures, between 6 and 7 percent.

Bay of Plenty’s unemployment rate had increased to 7.1 percent in the March quarter, from 5.7 percent in the previous quarter.

Rotorua Mayor Tania Tapsell said she was “very surprised” to see the Bay of Plenty’s unemployment rate rise, and would be looking into why it had increased.

“I know that as a region we are actually doing quite well, and I hear from businesses that they are seeking employees as well – so again [I’m] very surprised.”

She said it was concerning to hear families could be struggling.

Some conference and business events in Rotorua were looking at postponing due to the effect of fuel costs, Tapsell said, but in general, tourism in the city was “booming”, and domestic flights hadn’t been cut.

But Tauranga chamber of commerce chief executive Matt Cowley said tourism in the Eastern Bay of Plenty had been “patchy”, forestry was “doing it tough”, as well as some manufacturers exposed to the domestic market.

He cited Ballance Agri-Nutrients decision to end manufacturing operations in Mount Maunganui, and cut 60 jobs, as one example.

“Hospitality has been somewhat contracting due to reasonably tough summer periods,” Cowley said.

Auckland and Wellington’s unemployment rates remain high – Auckland’s increasing from 6.4 to 6.6 percent in the March quarter, and Wellington’s from 5.8 to 6.3 percent.

Kerr said Wellington had been in a “very dark place” over the last couple of years, due to public sector job cuts.

He said surveys consistently showed Wellington businesses were “downbeat”, and Auckland, “not that much better”.

He compared that to Canterbury where unemployment rates were 4.4 percent in the March quarter – up from 3.7 percent in the previous quarter – but the region was generally performing better than the North Island cities.

“I think Auckland and Wellington, they need to do something to drag themselves out of this funk that they’re in.”

Finance Minister Nicola Willis said in any economic recovery, unemployment was the last thing to recover.

“You’re seeing that it is in the cities that that recovery has taken the longest to turn around. What we do see is the signs are there that the recovery is starting to latch on in those cities.”

Willis said some businesses had been expanding, selling more and creating more jobs.

“What we need to do is give them every chance of continuing that in the months ahead, notwithstanding the events in the Middle East.”

Labour’s Finance spokesperson Barbara Edmonds said the statistics were “nothing to sing about,” even though the headline figure had come down.

“If you scratch a little bit deeper, that’s 163,000 people who are out of work, and the unemployment levels being higher in Auckland now than it was 11 years ago, higher in Wellington than it was 12 years ago.”

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Why can’t we agree on the office aircon temperature?

Source: Radio New Zealand

“In the afternoon, it gets hot at my desk… when I come to work, it’s too cold… It’s cold outside but hot inside.”

These are common office complaints – and Steve Simpson hears them year-round. He chairs the Auckland committee of FMANZ, which has more than 1800 facility manager members nationwide.

“For those people that might have a cold coming on, or their health isn’t that flash, or they like exercising during the day, or they like sitting at the window side to see the sun, there isn’t always going to be a sweet spot for those people.”

Complaints tend to happen during seasonal changes as indoor temperatures drift within the recommended ranges, says HVAC Engineering Group chairman Robert Banks.

Unsplash / Getty Images

But getting about 80 percent of staff satisfied with the indoor temperature is about as good as it gets, says HVAC Engineering chairman Robert Banks.

What’s the recommended temperature?

WorkSafe’s recommends 18-22C in winter and 19-24C in summer for indoor thermal comfort.

However, Banks says a temperature lower than 21C during winter in a space where staff are sedentary and not wearing their winter gear may mean it’s too cold. So building managers of such spaces usually follow a guidance of heating to no less than 21C in winter, as research had shown most people will find this comfortable.

Modern building systems use a “computer-controlled set point arrangement” to maintain temperatures, Banks says.

Some workplaces also ask for local thermostats that can shift a few degrees either way.

“Psychologically, people are quite happy if they can adjust it by 1 degree, [feeling it has made a difference].”

Complaints tend to happen during seasonal changes as indoor temperatures drift within these different ranges and people adjust their clothing, he says. “But people are less tolerant of overcooling than overheating, tests have shown that.”

Banks, who has designed and supervised office air‑conditioning systems, says several building design factors influence how temperature is felt, including glazing type, insulation and occupancy. For example, 10 people can give off a kilowatt of heat, so a small 10sqm meeting room may only suit four or five people to maintain temperature and air quality.

Sitting right next to the sun may mean you’ll feel hotter when the sun strikes, especially if the glazing is clear.

Unsplash / Curated Lifestyle

Why do my peers not feel as cold/hot as I do?

If you’re rushing from one meeting room to another, “your equilibrium body temperature is going to be cooler than someone who’s sitting there for two or three hours straight”, Banks says.

University of Otago public health researcher Zhiting Chen says body size, weight, composition, and metabolic rate all affect how quickly someone gains or loses heat.

Chen says research shows women, on average, prefer temperatures 1-3C warmer than men, and some studies suggest women have a narrower comfort range.

“These differences are usually explained partly through physiology. For example, women generally have a lower metabolic rate, which means the body produces less internal heat,” Chen said in an email.

“Female thermal perception may also vary across life stages and biological changes, including menstrual cycles, pregnancy, and menopause.”

Thermoregulation becomes less efficient with age, making older adults more sensitive to temperatures outside their comfort zone, Chen says. “Chronic conditions, disabilities, and some medications can also influence how people experience indoor temperature.”

University of Otago public health researcher Zhiting Chen.

Supplied / University of Otago

Who is the research based on?

Chen says many influential ‘thermal comfort’ models don’t fully capture the diversity of people’s needs. “These models were often built around an ‘average’ occupant, historically based heavily on young, healthy male adults.

“This does not mean these models are useless, but they can be limited when applied to the diverse populations who actually live and work in buildings.”

Some guidance now recognises that vulnerable groups may need narrower or more protective ranges, but most standards still don’t account for gender or broader demographic variation, Chen says.

Banks notes that while older research used clothed male mannequins, “the calibration of heat loss is prorated based on the size of the body… and all clothing can be given a clothing insulation factor”.

Does it affect productivity?

A University of Southern California study of more than 500 German students, published in 2019, found women performed better on math and verbal tasks at higher temperatures, while men performed slightly better at cooler ones. (Although the relationship between temperature and men’s performance was less pronounced.)

The authors say the findings “raise the stakes for the battle of the thermostat”.

“One of the most surprising things we learned is this isn’t about the extremes of temperature,” the study’s co-author, Tom Chang, said in a news release. “Even if you go from 60 to 75 degrees [15.5C – 23.9C], which is a relatively normal temperature range, you still see a meaningful variation in performance.”

Chang told RNZ’s Sunday Morning his research aimed to show that temperature also affected the productivity of knowledge workers or white collar workers.

Dealing with the complaints

Banks suggests a simple test: ask six nearby colleagues if they also feel too hot or cold, and report to your building manager if most agree.

If it’s too hot, don’t crank the system beyond the recommended range – it won’t work faster and may just end up using more energy instead, he says.

Steve Simpson is the Facilities Management Association of NZ’s Auckland Committee chairperson and Colliers associate director.

Supplied / FMANZ

FMANZ’s Simpson says good consultation with staff is essential, so the “outliers” don’t take matters into their own hands and disenfranchise others.

If someone is consistently too cold, consider moving them to a sunnier desk or reviewing airflow patterns, he suggests. Banks adds it may be a matter of rethinking the limitations of dress codes.

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AI causing headaches for both job hunters and recruiters

Source: Radio New Zealand

123RF

Job seekers say not being able to tell if some companies are using artificial intelligence (AI) to screen their cover letters and CVs is dehumanising.

The unemployment rate has slightly eased from a 10-year high according to new data, but jobseekers say the struggle to find work has prompted them to get their CVs professionally written to stand out against AI algorithms.

Experts say while AI can be useful to screen hundreds of applicants, it has also created a gap in transparency between jobseekers and employers.

At the end of last year, *Sam closed her laptop after finishing her last assignment for her Bachelor of Communications. But after graduating from Wellington’s Victoria University, looking for a full-time job could not be harder.

“It’s just been absolutely gut-wrenching at this point; I’ve been looking for a job for well over a year.

“Every week you just get countless emails of just the default: ‘Thanks, but no thanks, we’ve decided to go in a different direction, and you’re one of 150 to 300 applicants average.'”

Sam said the only thing keeping her in Aotearoa was family and elderly grandparents, and she would also face paying interest on her student loan if she left the country.

Throughout the job application process, she said it was often hard to tell if she had been screened by AI.

“I have definitely felt like some of the screening has been done by AI, because if you’re applying for a job on SEEK, it tells you how many other people have applied through SEEK.

“There’s some jobs that I’ve applied for that have had well over 800 applicants – you can’t expect an HR person to go through every single one of those. So, either they’re just picking one of those… they’re just picking a number, picking a random selection and culling from there.”

The uncertainty of whether some companies were using AI for job screening had turned some people to get their CV written professionally.

Sarah Wrightson ran a CV-writing company based in Te Awamutu and said her customer base was up 50 percent on last year.

“CVs are being scanned for the key words, job titles, formatting – and if they don’t match [the job description] closely enough, they get rejected instantly.

“It’s a shame because we ultimately want humans to read them, and good candidates are being knocked out of the chance to get the job because of technical reasons, not capability.”

In the last year, Wrightson had been approached by a wider range of people looking for help.

“A lot of senior experienced professionals, people who have not job-hunted in years, sometimes decades, and they say, ‘I’ve never had to write a CV like this before.’

“People that have been made redundant, so they’re coming in needing their documents fairly quickly and they’re often applying for roles that they haven’t considered before.

“There’s [also] people that are stuck after months of applying, they’ve been sending out applications with no response, getting rejections about feedback and they’re starting to lose confidence.”

Wrightson told Checkpoint that AI had led to disconnection between employers and jobseekers. She said employers were less trusting of cover letters and CVs made with AI, while jobseekers felt they were being unfairly rejected by algorithms.

“Job hunting has become like a skill in itself and a fulltime job, the time that it takes to tailor all your applications properly.

“On the other side, employers are struggling too – they’re getting too many applications, and it can be hard for them to spot the genuine candidates.”

Alistair Knott, an AI professor at Victoria University said AI could be useful for employers in the first stage of job applications. But he said screening by a human could properly determine whether someone was fit for the job.

“A useful thing that companies are doing is leaning towards different forms of assessment. They want to see videos of people talking to see something about them, they want to see things which can’t be scripted by AI.

“So, they don’t want videos of people who may be looking at their phones and reading out a script, they want to hear what is in someone’s head.”

He said AI had created a strange dynamic between employers and job seekers.

“My AI is talking to your AI, I’m the applicant and I’ve produced my application with AI and you’re the employer and you’re screening me with AI. It’s rather easy for the human to fall out of the loop.”

Stats NZ data out on Wednesday showed unemployment dropped slightly to 5.3 percent in the first quarter of this year, from 5.4 percent in the previous quarter. But the number of people between 15 and 24 years who were unemployed, not in education or training, increased to 14.4 percent from 13.3 percent.

In December last year, unemployment was at its highest level since March 2015.

*Sam’s name has been changed to protect her identity.

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AI-generated identity fraud reported by more than half of businesses – report

Source: Radio New Zealand

Lumin’s chief executive Max Ferguson says AI-generated fraud is eroding trust. Supplied/Lumin

More than half of businesses have reported AI-generated identity fraud at an average cost of $2.2 million for each attack.

Christchurch-founded document workflow provider Lumin said sophisticated impersonation technology had reached new heights, with 90 percent of the 1000 organisations it surveyed in the United States, New Zealand and Australia concerned their critical workflows were vulnerable to AI-powered fraud.

Ninety percent of New Zealand organisations believed the processes they used to sign, verify, and complete legally binding business contracts, were vulnerable.

Lumin chief executive Max Ferguson said AI-generated fraud was eroding trust.

The findings of its report, Digital Identity in Business: The Threats, Impact, and Opportunities, indicates advancements in AI, were severely eroding business trust, with the majority of New Zealand organisations seeing historical fraud breaches as a major deterrent to collaborate with potential partners.

The report indicates 69 percent of New Zealand businesses would be less willing to work with a partner who recently experienced an identity fraud incident.

“With cybersecurity-threatening AI super intelligence at our doorstep, vulnerable agreement workflows are a goldmine for fraudsters,” the report says.

“When these systems fail, sensitive financial data, corporate information and personal information are exposed. With these breaches often triggering extensive data leaks and devastating financial damage, securing these digital processes is no longer optional.”

Ferguson said the goal was to help businesses improve resilience and ensure New Zealand remained a trusted place to do business.

“I see the reality of this threat everyday with scammers impersonating me to my staff and targeting our accounts team with fake invoices. AI has sharpened these fraud tactics to the point where they directly threaten the trust that keeps our business ecosystem interconnected and operating smoothly,” he said.

“Preventing identity fraud is no longer just an IT responsibility.

“Businesses need to acknowledge that it can strike any department and must be addressed at the boardroom level.

“Industries have to move beyond simply capturing a signature and shift toward verifying the person signing. By evolving how we secure identities now, we can protect our reputation and our future.”

The report indicates two-thirds (67 percent) of New Zealand organisations were planning to increase investment in identity verification technology and processes over the next two years.

“While this investment level still lags behind Australia (82 percent) and the US (78 percent), there is a clear push for modernised solutions, with 85 percent of NZ firms also supporting the introduction of government-issued digital IDs, with the primary motivator being the ability to make identity verification significantly easier.”

Ferguson said New Zealand business leaders needed to take action to make identity fraud protection a strategic priority, by evaluating vulnerabilities and addressing them, without slowing down the signing process.

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Media awards dump Voyager as sponsor after founder’s social media posts

Source: Radio New Zealand

Voyager CEO and founder Seeby Woodhouse supplied

The New Zealand Media Awards has dumped its sponsor, Voyager, over social media posts, just a fortnight out from the showcase awards.

In a statement, the News Publishers’ Association said it had told Voyager CEO and founder Seeby Woodhouse on Wednesday it was terminating its naming rights sponsorship.

The awards website now says Voyager was the sponsor from 2018 to 2025 even though the awards had been called the Voyagers this year again.

The NPA said it became aware of social media content Woodhouse had re-posted. It said the NPA considered it was “inconsistent with the values and standards” it upholds for New Zealand news publishing.

It did not say what the post was.

“While Mr Woodhouse’s profile states that re-posting does not necessarily signify his agreement with the content, and the re-post has since been taken down, NPA considers the re-post irreconcilable with its values and standards.”

The awards ceremony on 22 May will be held without a sponsor.

The website of Voyager, a broadband company, still lists itself as the premier sponsor of the media awards and says it is proud to support the initiative.

“Do the right thing, always do your best, and help others; these are our core values, which we see as aligning closely with the ethos of the New Zealand media, which works hard to deliver credible, informative, and well-balanced news to the public,” it reads.

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How much did cashback campaign cost banks?

Source: Radio New Zealand

RNZ / Quin Tauetau

A small share of home loan borrowers benefited from banks competing with cashback offers last year, the Reserve Bank says, and it may have cost the banks around $100 million.

Towards the end of last year, the banks began to compete more aggressively with offers of up to 1.5 percent of the total lending value as a cash back if people brought new business to a bank.

It led to a record surge in switching between banks.

The Reserve Bank noted the phenomenon in its latest Financial Stability Report.

It said the offer coincided with mortgage rates being near their lowest point and a larger-than-normal share of mortgages rolling off fixed-rate terms, which meant borrowers could move.

“Nearly three times the usual amount of mortgage debt switched banks in December, while market shares remained largely unchanged afterwards.

“The offer benefited a small share of borrowers at the expense of banks, although it may be offset by generally higher lending margins. Assuming no offset from higher margins, we estimate the higher cashback offer cost banks around $100 million, which is a small share of their annual profits before tax of around $10 billion.”

Commentators such as David Cunningham, chief executive of Squirrel, have suggested the cash back incentives meant higher costs to borrowers overall.

Home loan rates have since risen significantly since that time, from a low of about 4.5 percent for a two-year rate to about 5.2 percent.

Reserve Bank governor Anna Breman said the bank knew it was a tough environment for households.

“What we stress in the financial stability report is that the banks are resilient and able to support both businesses and households throughout this time.”

Angus McGregor, acting assistant governor for financial stability, said the bank expected that borrowers and businesses that were struggling would engage promptly with their bank to talk about it.

“And we know in our discussions with industry that that’s exactly what the banks want customers to do as well, so they are very open to those conversations.”

The Reserve Bank said the housing market generally was still soft.

“National house prices are below their November 2021 peak and have been broadly flat over the past three years. Elevated housing inventories are weighing on house prices, particularly in Auckland and Wellington.

“House prices remain around the top of our estimated sustainable range. While this suggests the risk of a correction is not particularly elevated, rising mortgage rates could reduce house prices further.”

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Channel Infrastructure lifts full-year profit guidance

Source: Radio New Zealand

Channel Infrastructure’s board chair says the 93-million-litre diesel storage facility commissioned by the government at the Marsden Point facility is on track for completion by end of the month. Alan Squires Photography

Channel Infrastructure has lifted its full-year profit guidance, as a fuel crisis continues to drive demand for its services.

Board chair James Miller told shareholders at Wednesday afternoon’s annual meeting that the 93-million-litre diesel storage facility commissioned by the government at the Marsden Point facility was on track for completion by end of the month.

The Z Energy jet tank was also expected to be ready for commissioning and generating revenue in July, six months ahead of original schedule.

Revenue from the Higgins bitumen import terminal project was anticipated to generate $57 million over the 15-year contract term, compared with a previous estimate of $45m.

The total cost to deliver the project was forecast to be between $25m – $27m, compared with an earlier forecast of between $17m – $21m, given the expansion in the scope and capabilities of the terminal.

Given the work in progress and additional revenue, Miller said Channel Infrastructure’s full year underlying profit guidance had been raised to between $97m to $105m, from $95m to $100m for the year ending in December.

Chief executive Rob Buchanan said the Channel team and its contractors had proven their ability to deliver when it matters.

“We have proven our ability to execute on large capital-intensive projects safely, on time and on budget.”

He said development of the Marsden Point Energy Precinct continued to be the company’s number one priority, followed by adding value along its supply chain to Auckland Airport.

The company was also looking to grow through acquisitions – either in New Zealand or Australia – such as its recent purchase of a 25 percent stake in the Somerton jet fuel pipeline to Melbourne Airport for A$14m.

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Middle East conflict: Warning over Kiwis’ ability to pay back debt

Source: Radio New Zealand

RNZ

Risks to financial stability have increased due to the Middle East conflict, with a bleaker outlook for the economy, potentially making it harder for borrowers to service debt.

In its half-yearly Financial Stability Report, the Reserve Bank (RBNZ) stressed the country’s financial system remained resilient, and the banking system was well-placed to support customers even if conditions worsened.

The RBNZ said the longer the Iran war continued, the greater the risks to global financial stability, with New Zealand already feeling “significant economic effects”.

Governor Anna Breman said high diesel prices were having the biggest effect on the transport and logistics sectors, as well as primary industries, including forestry and fishing.

“While economic growth had been recovering prior to the conflict, we are now likely to see a somewhat slower recovery, affecting job growth and debt servicing,” Dr Breman said.

The RBNZ said banks had strong capital and funding buffers, meaning they were not only “well-placed” to help struggling customers, but also manage stresses in offshore funding markets.

It said stress testing results showed banks’ ability to withstand significant economic shocks, including geopolitical events like the Middle East conflict.

The RBNZ expected the impact on insurers to be limited, noting health insurers have raised premiums and adjusted policies following several years of high claims costs.

The RBNZ said it was working on a stress test of life and health insurers.

Reserve Bank Governor Anna Breman RNZ / Samuel Rillstone

Fuel prices close to their highest levels in 50 years

Unsurprisingly, the RBNZ said higher oil prices will increase costs for firms, including those already facing weak demand.

“Prices for these important inputs are now close to their highest levels in the past 50 years after adjusting for inflation,” the RBNZ said in its report.

It warned that in addition to increased costs for firms, higher oil prices will reduce consumers’ spending power.

“Higher near-term CPI [consumer price index] inflation due to the conflict will reduce real wages,” the RBNZ said.

“While it seems unlikely at this stage that the impact on real wages will be as large as it was over 2021/22, even a small decline in spending power could create financial hardship for some households given the existing cost-of-living pressures.”

Meanwhile, low profitability in recent years meant firms were in a “more vulnerable position”.

“Business deposits were elevated after the pandemic, given fiscal support and the strong economic recovery,” it said.

“However, over the past three years, business deposits, particularly for smaller firms, have declined as a share of GDP [gross domestic product].”

The RBNZ said mortgage arrears have also declined from the recent peak as the economy improved, with non-performing loans at around 0.6 percent of lending.

However, it said arrears and non-performing loans remain higher than pre-pandemic levels.

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Businesses increasingly dissatisfied with government due to rising costs, survey says

Source: Radio New Zealand

MYOB’s Annual Business Monitor indicated businesses were under pressure from increasing costs. (File photo) RNZ / Quin Tauetau

Small and medium-sized businesses are becoming increasingly dissatisfied with the government ahead of this month’s budget as rising costs and a weak economic outlook eat away at confidence.

MYOB’s Annual Business Monitor indicates 35 percent of more than 1000 SME owners and operators surveyed were dissatisfied with the coalition government, outnumbering those who were satisfied (33 percent), with 31 percent remaining neutral.

The survey indicated businesses were under pressure from increasing overhead costs, which were up an average of $1200 per month, while insurance premiums rose an average of $1800 in the past year or by $3200 for an average medium-sized businesses.

“At the beginning of this year, our insights suggested most SMEs were starting 2026 more hopeful about their prospects and backed by relatively stable revenue and cashflow, but rising costs and recent increasing uncertainty may have clouded over some of the growth ambitions we saw coming through,” MYOB chief executive Paul Robson said.

“These factors, as well as a slower-than-anticipated economic recovery, can often shape some of the sentiment by businesses around the support available to them.”

SMEs voting intentions

Despite satisfaction dipping, the coalition parties maintained a clear majority of support from SME operators.

By political party, National was still the first choice among business owners, with 37 percent of those polled expecting to vote for the party at this year’s general election, while coalition partners – NZ First and ACT – each had 11 percent support.

Support for opposition parties had seen some grown, with 20 percent of SME decision-makers intending to vote for Labour (up 5 percent), while the Greens improved slightly to 4 percent.

Support for the Opportunities Party was two percent, while Te Pāti Māori had one percent support.

“We have seen some movement in voting intentions compared to the run up to the last election, and just over one-in-10 SME decision-makers are undecided about their vote,” Robson said.

“Given the size of the SME community in New Zealand, that is still a significant number of votes to compete for and overall, business owners will be looking for practical policy platforms that deliver targeted support where it is most impactful.”

SMEs said the top three actions the government could take to better support business this year were reducing compliance burdens, alleviating cost pressures, and supporting investment.

What SMEs want

“While there is little doubt about the balancing act the current government faces in investing in the future of New Zealand business and managing existing debt levels, there is clear opportunity for practical support for local SMEs that will ease some of the load they are carrying day-to-day,” Robson said.

“Business owners will be monitoring outcomes of the upcoming budget keenly to see what’s in it for them, but looking further ahead to the election on the horizon, the parties that put forward credible, targeted policies for SMEs will strengthen their appeal to a segment that represents a significant share of the voting public.”

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