Latest / The SME Stream / SME Stream Weekly Wrap - 22nd November

Transcript

SME Stream Weekly Wrap - 22nd November · The SME Stream

• 0:01
  Speaker 1: Kyoda and welcome to the SMEE stream weekly wrap Up,
• 0:04
  Speaker 1: brought to you by being Z. My name is Wilhelmina Shrimpton,
• 0:07
  Speaker 1: and every week I'll bring you a short, sharp and
• 0:10
  Speaker 1: very sweet summary of all of the latest business news.
• 0:13
  Speaker 1: As most of us know, when it comes to business,
• 0:15
  Speaker 1: there's peaks, there's pits, and everything in between. Often it's
• 0:19
  Speaker 1: hard to keep up with your own day to day,
• 0:21
  Speaker 1: let alone what's happening with the economy and how it
• 0:23
  Speaker 1: affects you. So that's where I come in, wrapping up
• 0:26
  Speaker 1: everything you need to know or may have missed over
• 0:28
  Speaker 1: the past week. And as a small business owner myself,
• 0:31
  Speaker 1: I'll be on this journey with you too. This week,
• 0:34
  Speaker 1: we're just a few days out from the next OCR announcement,
• 0:37
  Speaker 1: so what can we expect. We unpack new job data
• 0:40
  Speaker 1: from si had the plan to tackle scammers, plus insightful
• 0:44
  Speaker 1: chats about New Zealand's shrinking stock market, and more very
• 0:48
  Speaker 1: sound business advice from the lads from business in between.
• 0:55
  Speaker 1: The countdown is on and I'm pretty sure that everyone
• 0:58
  Speaker 1: with a mortgage out there is crossing each day off
• 1:00
  Speaker 1: their calendar and the lead up because next Wednesday is
• 1:04
  Speaker 1: OCR announcement day, currently sitting at four point seventy five percent.
• 1:08
  Speaker 1: Bnz's latest market outlooks says twenty five, fifty and seventy
• 1:13
  Speaker 1: five bases point cuts are all in option, but the
• 1:16
  Speaker 1: view is that a fifty point cut is the most
• 1:18
  Speaker 1: likely scenario. This would take the official cash rate down
• 1:22
  Speaker 1: to four point two five percent, bringing some much needed
• 1:25
  Speaker 1: relief to kiwis across the country, as retail rates look
• 1:29
  Speaker 1: set to also drop in response. But despite that downward
• 1:33
  Speaker 1: trajectory and the increase in positive sentiment, benzet Economists say
• 1:37
  Speaker 1: that we're currently in a lag cycle where the green
• 1:40
  Speaker 1: shoots of the economy are still nestled among the death
• 1:44
  Speaker 1: throws of last season's crop. I know it sounds really
• 1:47
  Speaker 1: grim and it will likely mean more job losses and
• 1:50
  Speaker 1: business closures, but there is thankfully a light at the
• 1:53
  Speaker 1: end of the tunnel. It's just going to take a
• 1:55
  Speaker 1: little bit of time to get there. That all important
• 1:58
  Speaker 1: announcements at two pm next Wednesday. Set your alarms, because
• 2:02
  Speaker 1: I know we'll all be wanting to watch. Speaking of
• 2:06
  Speaker 1: job losses and advertisements, new data from listing websites Seek
• 2:09
  Speaker 1: has revealed there are fewer jobs going and more people
• 2:13
  Speaker 1: are applying for each one that becomes available. It's October
• 2:17
  Speaker 1: employment report shows job ads have fallen for the third
• 2:21
  Speaker 1: consecutive month and are now down twenty six percent year
• 2:24
  Speaker 1: on year. SEEK country manager Rob Clark says the market's
• 2:28
  Speaker 1: likely to remain in a downturn in the near future.
• 2:31
  Speaker 2: We hear a lot of optimism around the future, it's
• 2:34
  Speaker 2: just not necessarily translating into people, you know, hiring a
• 2:37
  Speaker 2: holler and new people just at the moment.
• 2:39
  Speaker 1: Declines in monthly job add volumes in Auckland and in
• 2:42
  Speaker 1: Canterbury led that drop nation wide. But despite the numbers,
• 2:46
  Speaker 1: thankfully it's thought we could be nearing the turning point.
• 2:50
  Speaker 3: Things do seem like they might be stabilizing a touch.
• 2:54
  Speaker 3: Some of the fools are in the last couple of
• 2:56
  Speaker 3: months haven't been as huge as what they were if
• 2:59
  Speaker 3: you go back to sort of earlier in twenty twenty four,
• 3:01
  Speaker 3: and so when you look at the latest SEEK data,
• 3:04
  Speaker 3: it does seem to suggest again maybe a little bit
• 3:06
  Speaker 3: of that bottoming out or stabilization.
• 3:09
  Speaker 1: Not every industry's job listing numbers fell, though demand for
• 3:12
  Speaker 1: hospitality and tourism workers shot up, as did banking and
• 3:16
  Speaker 1: financial services, and surprisingly, despite a raft of cutbacks this year,
• 3:21
  Speaker 1: job listings for government and defense workers were also up.
• 3:25
  Speaker 1: You can hear more insights from Infometrics principal economist Brad
• 3:28
  Speaker 1: Olson as he unpacks the latest data on the SMEA stream. Now,
• 3:33
  Speaker 1: with most of us relying on technology and the Internet
• 3:35
  Speaker 1: to operate both personally and professionally, it's no surprise that
• 3:40
  Speaker 1: we've increased the margin of error when it comes to
• 3:42
  Speaker 1: falling victim to scams. New Zealand Cybersecurity Agencies thirteen Z
• 3:46
  Speaker 1: revealed earlier in the year that the amount businesses and
• 3:49
  Speaker 1: organizations reportedly lost to scams and fraud nearly doubled, rising
• 3:54
  Speaker 1: from nine hundred and fifty six thousand dollars in twenty
• 3:57
  Speaker 1: twenty two to an eye watering one point nine million
• 4:00
  Speaker 1: last year. Now, the government's ramping up efforts to crack
• 4:03
  Speaker 1: down on scams by bringing together public sector agencies and
• 4:07
  Speaker 1: the banking industry. There's currently a pretty disjointed approach, with
• 4:11
  Speaker 1: no centralized method or agency for reporting scams, with six
• 4:16
  Speaker 1: government agencies working on the issue. Consumer Affairs Minister Andrew
• 4:19
  Speaker 1: Bailey says there's a need for better information sharing to
• 4:23
  Speaker 1: tackle the growing problem report it scams for about two
• 4:26
  Speaker 1: hundred million a year, but the real figure is much
• 4:29
  Speaker 1: much higher than that.
• 4:30
  Speaker 4: Things of low people don't report. Its estimate it could
• 4:33
  Speaker 4: be as high as a billion.
• 4:35
  Speaker 1: Many businesses pride themselves on inclusive practices, but according to
• 4:40
  Speaker 1: new research, a lack of it is causing young talent
• 4:44
  Speaker 1: to leave their roles at an alarming rate. The data
• 4:47
  Speaker 1: by Gender at Work and YWCA tamakiber Codo shows just
• 4:52
  Speaker 1: one in seven young women are planning to stay in
• 4:55
  Speaker 1: workplaces lacking diversity and inclusion strategies. Gender at Work s
• 5:00
  Speaker 1: gen Z will soon make up thirty percent of the workforce,
• 5:04
  Speaker 1: and there's a number of reasons why organizations should retain
• 5:08
  Speaker 1: them through an inclusive culture.
• 5:09
  Speaker 4: The economic cost for the organization, but also the impacts
• 5:13
  Speaker 4: it has on the people in the organization, and that
• 5:16
  Speaker 4: has a lot of flow on effects in terms of productivity,
• 5:18
  Speaker 4: in terms of engagement.
• 5:21
  Speaker 1: It is, of course the conversation that keeps on going
• 5:24
  Speaker 1: and keeps on giving. After Donald Trump was re elected
• 5:27
  Speaker 1: as US president, the chat about what it means for
• 5:30
  Speaker 1: the economy and the investment market continues.
• 5:33
  Speaker 2: So one of the big fears before the election was
• 5:36
  Speaker 2: that a lot of Trump's tax cuts from when he
• 5:39
  Speaker 2: was last in power would lapse, and that would have
• 5:43
  Speaker 2: quite a severe impact on the US economy, both personal
• 5:47
  Speaker 2: tax cuts and company tax cuts. So the good news
• 5:50
  Speaker 2: people who are investing in companies and people with key
• 5:55
  Speaker 2: we so over accounts.
• 5:55
  Speaker 1: And a really insightful interview with Tim Beveridge, Chris Deliver
• 5:59
  Speaker 1: from Heart for Asset Management says there's no way that
• 6:03
  Speaker 1: Trump would reverse his own tax cuts. In fact, there's
• 6:06
  Speaker 1: a chance he could cut them even further.
• 6:08
  Speaker 2: For US shares, it's largely been a really good story
• 6:13
  Speaker 2: so far. They're rally pretty strongly following the election results.
• 6:19
  Speaker 2: One of the things that we have to be more
• 6:21
  Speaker 2: apprehensive on, however, his trade policy, and we don't know
• 6:27
  Speaker 2: what that would look like, and that's kind of a
• 6:30
  Speaker 2: negative for markets.
• 6:32
  Speaker 1: You can listen to the full interview on the SMEE stream.
• 6:35
  Speaker 1: Most of us are consistently contributing to Kiwi Savor and
• 6:39
  Speaker 1: getting better returns for it, but the number of companies
• 6:41
  Speaker 1: investing that money locally is actually shrinking, and instead they're
• 6:46
  Speaker 1: opting to deploy that money offshore. On this week's Markets
• 6:49
  Speaker 1: with Madison, First Cape chief executive Malcolm Jackson says that's
• 6:53
  Speaker 1: because the returns abroad are great. Well back here they're
• 6:57
  Speaker 1: just okay.
• 6:58
  Speaker 5: You have to chase returns. We have to chase them safely,
• 7:02
  Speaker 5: and the safety comes with divesification. The New Zealand market's
• 7:06
  Speaker 5: quite a concentrated market. The companies on the exchange are
• 7:08
  Speaker 5: quite concentrated, and you get some of that diversification of
• 7:13
  Speaker 5: exposure to different industries by being another geographies first.
• 7:16
  Speaker 1: CAPE invests about fifty one billion on behalf of eight
• 7:19
  Speaker 1: hundred thousand New Zealanders directly and indirectly, making it one
• 7:24
  Speaker 1: of the largest wealth firms in the country. Now. More
• 7:27
  Speaker 1: than half of that amount was invested off shore, where
• 7:30
  Speaker 1: returns had outperformed, especially over in the US. He unpacks
• 7:34
  Speaker 1: what needs to be done to breathe new life into
• 7:37
  Speaker 1: our shrinking stock market and markets with Madison on the
• 7:40
  Speaker 1: SMEE stream. Finally, in another delightful, raw and honest chat
• 7:45
  Speaker 1: with the lads from Business in Between, they unpacked the
• 7:47
  Speaker 1: lessons they've learned over the last five years while in
• 7:50
  Speaker 1: business and running their podcast Between two Bears.
• 7:53
  Speaker 6: The number one lesson that I have taken away is consistency.
• 7:58
  Speaker 6: If you just do the same thing to a decent level,
• 8:01
  Speaker 6: over and over and over and over and over and
• 8:03
  Speaker 6: over and over again. It will lead to success.
• 8:06
  Speaker 1: The saying goes that consistency is key, so it's a
• 8:09
  Speaker 1: pretty strong start. As for another lesson, just try.
• 8:12
  Speaker 7: To be quite positive with my interactions with people more
• 8:15
  Speaker 7: often than not. I think I can be quite a
• 8:17
  Speaker 7: grumpy person sometimes or maybe give off a grumpy hybe,
• 8:20
  Speaker 7: but I've tried to park that a little bit and
• 8:22
  Speaker 7: just be a bit more pleasant around the place.
• 8:24
  Speaker 1: Because relationship building is one of the most important things
• 8:28
  Speaker 1: in business. The rest of the episode sees the lads
• 8:31
  Speaker 1: talk about the other lessons they've learned, plus they share
• 8:33
  Speaker 1: some great anecdotes from their time as business owners in
• 8:36
  Speaker 1: the podcasting game. You can catch the full chat and
• 8:39
  Speaker 1: business in between on the SMEA stream and that set
• 8:43
  Speaker 1: for the weekly rat We'll be back next Friday with
• 8:45
  Speaker 1: the latest on the upcoming and very exciting OCR announcements,
• 8:49
  Speaker 1: as well as more business news and of course the
• 8:51
  Speaker 1: best bits on the SMEA stream.