Latest / The SME Stream / SME Stream Weekly Wrap - 15th November

Transcript

SME Stream Weekly Wrap - 15th November · The SME Stream

• 0:01
  Speaker 1: Yonder and welcome to the SMEE stream weekly wrap up,
• 0:03
  Speaker 1: brought to you by Be and Z. My name is
• 0:05
  Speaker 1: Wilhelm and Shrimpton and everywhere. I'll bring you a short,
• 0:08
  Speaker 1: sharp and very sweet summary of all of the latest
• 0:11
  Speaker 1: business news. As most of us know, when it comes
• 0:14
  Speaker 1: to business, there's peaks, there's pits, and everything in between.
• 0:18
  Speaker 1: Often it's hard to keep up with your own day
• 0:20
  Speaker 1: to day, let alone what's happening with the economy and
• 0:23
  Speaker 1: how it affects you. So that's where I come in,
• 0:25
  Speaker 1: wrapping up everything you need to know or may have
• 0:28
  Speaker 1: missed over the past week, and as a small business
• 0:30
  Speaker 1: owner myself, I'll be on this journey with you too.
• 0:33
  Speaker 1: This week, retail speed numbers are out. We unpack the
• 0:36
  Speaker 1: impact of the US election on our economy and the
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  Speaker 1: impact of gen Z on the workplace. Plus fascinating chats
• 0:43
  Speaker 1: with three AI experts and one of New Zealand's leading
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  Speaker 1: festival and events companies talks about the highs and lows
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  Speaker 1: of business. With Black Friday and Christmas just around the corner,
• 0:59
  Speaker 1: retailers across the country will be hanging out for the
• 1:02
  Speaker 1: much needed boosters, especially with new figures out showing that
• 1:06
  Speaker 1: electronic card transactions increased slightly from September to October this year,
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  Speaker 1: but fell year on year by one point one percent.
• 1:15
  Speaker 1: The drop and annual spend also followed a five point
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  Speaker 1: six percent fall in September compared to the same month
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  Speaker 1: last year.
• 1:22
  Speaker 2: Being behind where we were in twenty twenty three when
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  Speaker 2: the market conditions were also poor, but just shows how
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  Speaker 2: difficult the training environment is.
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  Speaker 1: The next few weeks will of course be critical for
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  Speaker 1: retailers as key we've hit the shops over the holiday
• 1:35
  Speaker 1: period and retail in Z says, well, there's understandably a
• 1:39
  Speaker 1: lot of concern right now. There's still hope from much
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  Speaker 1: stronger twenty twenty five.
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  Speaker 2: The challenge, of course is getting there. So how do
• 1:46
  Speaker 2: you transverse the period between now and the end of
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  Speaker 2: the first quarter next year.
• 1:51
  Speaker 1: You can catch the full interview with Retail and Z
• 1:54
  Speaker 1: chief executive Carolyn Young on the SMEE stream. It's now
• 1:58
  Speaker 1: been just over a week's the red Republican wave took
• 2:02
  Speaker 1: over the US and Donald Trump won the election. Look
• 2:04
  Speaker 1: what happened is this gras. We touched on it last week,
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  Speaker 1: but markets were quick to respond and the reaction just
• 2:12
  Speaker 1: keeps on coming in thick and fast.
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  Speaker 3: So the main thing is this is what the markets want,
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  Speaker 3: a certainty, and this has been a very decisive one
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  Speaker 3: for Trump and also the Republicans in terms of the
• 2:23
  Speaker 3: Senate and also Congress.
• 2:25
  Speaker 1: Trump's victory sent major stock markets, the dal Jones S
• 2:29
  Speaker 1: and P five hundred and NASDAC to new heights, and
• 2:32
  Speaker 1: Bitcoin's price continued to rise.
• 2:34
  Speaker 3: The equity markets will continue to go high. In my opinion,
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  Speaker 3: If we have an equity market that could rise by
• 2:42
  Speaker 3: twenty to twenty five percent within the year, that's pretty
• 2:45
  Speaker 3: significant for people who wish to invest in equities.
• 2:48
  Speaker 1: But while equity markets are soaring, attention is now turning
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  Speaker 1: to the impact the Trump administration and its policies will
• 2:54
  Speaker 1: have on our economy and whether or not it could
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  Speaker 1: affect the downward trajectory of our interest rates. The President
• 3:01
  Speaker 1: elect has proposed tariffs of up to twenty percent on
• 3:04
  Speaker 1: imported goods from most trading partners, and just as we've
• 3:08
  Speaker 1: started to see a light at the end of the tunnel,
• 3:10
  Speaker 1: economists are warning that z may have to downgrade its
• 3:14
  Speaker 1: economic outlook and growth forecast. But it's not only the
• 3:17
  Speaker 1: proposed tariffs causing concern.
• 3:19
  Speaker 4: I think also importantly, if Trump then comes through with
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  Speaker 4: some of the tax cuts in that that he wants
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  Speaker 4: to bring through, most expectations from US economists is that
• 3:28
  Speaker 4: that would be inflationary. Therefore, next year there's not as
• 3:31
  Speaker 4: much need for the Federal Reserve to cut interest rates back,
• 3:34
  Speaker 4: so there's not as much economic growth coming forward if
• 3:38
  Speaker 4: that's the case.
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  Speaker 1: Finance Minister Nikola Willis, though asn't jumping to any conclusions
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  Speaker 1: on whether the New Zealand will be affected by potential tariffs,
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  Speaker 1: since says the current trade setting with the US seems
• 3:48
  Speaker 1: to be working.
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  Speaker 5: It's clear the Americans like what we're selling. Equally, we
• 3:52
  Speaker 5: import a hic of a lot from the Americans. It
• 3:54
  Speaker 5: works for both sides. We have a close, positive relationship.
• 4:00
  Speaker 5: If there's any country in the world that the United
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  Speaker 5: States should look favorably upon in trade, I'd pick New Zealand.
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  Speaker 1: It's clear that all eyes will now be on Trump's
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  Speaker 1: next move, with many of us hopeful that whatever happens,
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  Speaker 1: it doesn't affect that sweet predicted string of interest rate cuts.
• 4:17
  Speaker 1: And you can hear all of the latest insights with
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  Speaker 1: Tiger Broker's Chief strategy officer Greg Boland in Markets with
• 4:22
  Speaker 1: Madison in the SMEE stream, as well as the full
• 4:25
  Speaker 1: interviews with Nikola Willis and Infometrics principal economist Rad Elson.
• 4:31
  Speaker 1: The latest tourism figures are out, with the numbers continuing
• 4:34
  Speaker 1: their slow recovery as more people decide to visit our shores.
• 4:38
  Speaker 1: The number of arrivals in September was just eighty seven
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  Speaker 1: percent of the numbers for the same month pre COVID
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  Speaker 1: in twenty nineteen, with the biggest increase in visitors from China,
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  Speaker 1: the US and Australia, and while Ossie's were arriving on
• 4:52
  Speaker 1: outside of the ditch in their droves, equally Kiwis were
• 4:55
  Speaker 1: doing the same. The number of New Zealand citizens leaving
• 4:58
  Speaker 1: the country continues to set new records, with a net
• 5:01
  Speaker 1: migration loss of fifty four thousand, seven hundred of US
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  Speaker 1: in September this year, and stats in Z says just
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  Speaker 1: over half of those departures headed to Australia in search
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  Speaker 1: of a fresh start. Of course, a lot of people
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  Speaker 1: choosing to make that big move Overseas come from a
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  Speaker 1: younger generation, and more specifically from Gen Z. The oldest
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  Speaker 1: of the generation born between nineteen ninety seven and twenty
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  Speaker 1: twelve are twenty seven years old, and there's been a
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  Speaker 1: lot of chat about some of the demands they place
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  Speaker 1: on employers.
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  Speaker 6: They've come through at a time when the global labor
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  Speaker 6: market has seen significant change. They've been coming through university,
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  Speaker 6: through COVID times. What that presents is a generation of
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  Speaker 6: individuals that's done a lot of remote working compared to
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  Speaker 6: their predecessors.
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  Speaker 1: Jay Peters from recruitment agency Robert Walters told the front
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  Speaker 1: Page podcast that because of that, gen Z has higher
• 5:55
  Speaker 1: expectations of working flexibility and leadership.
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  Speaker 6: Gen Z are far more purpose driven, and so what
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  Speaker 6: we're seeing is that they're really looking for leaders to
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  Speaker 6: be truly inspiring and visionary and having a lot of
• 6:08
  Speaker 6: empathy towards their staff.
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  Speaker 1: So are there expectations realistic and are they demanding too
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  Speaker 1: much or is gen Z really onto something. You can
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  Speaker 1: listen to the full chat on the SMEE stream.
• 6:21
  Speaker 7: The things that we're applying generative AI too are traditional
• 6:25
  Speaker 7: workloads that are actually really really boring, and that's where
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  Speaker 7: the value is being unlocked.
• 6:29
  Speaker 1: That's the Business of Tech podcast talking to three AI
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  Speaker 1: experts about the year that was and what to expect
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  Speaker 1: in the year ahead.
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  Speaker 7: So we've seen two things. Business owners in the mid
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  Speaker 7: market saying I can do like three times the amount
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  Speaker 7: of stuff with the same people, which is awesome. But
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  Speaker 7: also those more entrepreneurial minds in the mid market are saying, look,
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  Speaker 7: traditional knowledge work shouldn't be done how it's used to
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  Speaker 7: be done, and there's a whole new business model that
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  Speaker 7: we can created.
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  Speaker 1: There's a lot of discussion about the impact that AI
• 6:58
  Speaker 1: is having on businesses. There's some fair but also there's
• 7:02
  Speaker 1: a lot of excitement too. Check out the full interview
• 7:04
  Speaker 1: on the SMEA stream. Lastly, the lads from Business in
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  Speaker 1: Between speak about a different kind of gig economy. Chatting
• 7:12
  Speaker 1: to Hamish Pinkam, the co founder and director of Rhythm
• 7:15
  Speaker 1: and Vines and Endeavor Live.
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  Speaker 8: We didn't know much about the bigger event management and
• 7:19
  Speaker 8: getting consents, but we knew about getting people excited and
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  Speaker 8: we knew what our vision.
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  Speaker 1: Was for those unfamiliar with the brand. Pinkam's company is
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  Speaker 1: behind some of New Zealand's biggest events, festivals and gigs,
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  Speaker 1: including Most Young Kiwi's Write of Passage, the R and
• 7:34
  Speaker 1: V New Year Festival. But like most people trying to
• 7:37
  Speaker 1: get a business off the ground, he says, there was
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  Speaker 1: a lot of unknowns and a lot of trial and error.
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  Speaker 8: Lots of holes and lots of learnings. You know, we
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  Speaker 8: ran out of water one year. We you know, we've
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  Speaker 8: had power cuts. You know, nothing in events is ever certain,
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  Speaker 8: is it. So it's just mitigating those risks and having
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  Speaker 8: good people around you to help deliver these big projects.
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  Speaker 1: To hear the full story of how Pinkam and his
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  Speaker 1: Tea grew R and V from a gathering of just
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  Speaker 1: eighteen hundred baits and Gisbon to a full blown event
• 8:05
  Speaker 1: of thirty thousand revelers and beyond, head to the smear Stream.
• 8:11
  Speaker 1: And that's it for the Weekly Rat. We'll be back
• 8:13
  Speaker 1: next Friday with more business news and the best bits
• 8:16
  Speaker 1: on the smear stream.