The SME Stream

Could a $5,000 investment at birth help set every New Zealander up for retirement?

Nadine Higgins speaks to Fraser Whineray about his KiwiSaver 2.0 proposal, including automatic enrolment at birth, compulsory employer contributions that rise gradually over time, and bringing the self-employed into the system.

They also discuss the trade-offs around first-home withdrawals, who ultimately pays for higher contributions, and why Whineray wants KiwiSaver access protected from changes to the pension age.

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What does it really take to build a million-dollar business? And what are the lessons you only learn by actually doing it?

I've built businesses across multiple industries, from shapewear and e-commerce to haircare, beverages and education. But behind every success have been plenty of mistakes, setbacks and lessons I wish I'd known sooner.

In this episode, I'm answering six of the most common questions I get from business owners and sharing the biggest lessons I've learnt along the way.

We get into why focus is more important than having a million ideas, the traits that separate successful entrepreneurs from everyone else, how to overcome imposter syndrome and how to get the attention of people who could open doors for your business.

I also share the three signs I look for to know whether a business is actually on the right track, why making sales doesn't necessarily mean you're building a successful business, and what continues to motivate me after achieving some of my biggest financial goals.

Whether you're just starting out, struggling to grow or wondering what comes next, this episode is packed with practical advice, honest reflections and lessons you can apply to your own business today.

Ready to take your business further?

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National's unveiled a 26 point plan for its first 100 days if re-elected.

The first pledge will be introducing KiwiSaver changes to parliament, including $15,000 for every newborn, and making the scheme compulsory.

Other promises include cutting student loan repayments, extending paid parental leave, boosting Pharmac funding for cancer medicines and capping council rates increases.

Nicola Willis says the party's been campaigning hard on these issues and voters should know what to expect.

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Economist Tony Alexander analyses easing inflation, rising petrol prices and what the latest figures mean for interest rates, households and businesses.

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'It's going to really hurt': How will the Reserve Bank respond to inflation? - Fri 23 Oct

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As business owners, you know how hard it is keeping up with your business, let alone the news. Join Wilhelmina O'Keeffe each week as she gives you a rundown of the biggest stories that could impact your business, so you can make informed decisions with expert advice. 

This week, Annual inflation dips, but not for long. The India Free Trade deal comes into effect so which industries stand to benefit the most? And what’s weighing on the minds of some of our CEOs?

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Inflation is still much higher than it should be, largely because of high global oil prices. 

Stats NZ data shows the rate's now on 3.7%, down from 4.1% three months ago. 

Domestic non-tradeable inflation —for things like housing, electricity, and healthcare— has been trending down. 

Internationally-driven tradeable inflation —for things we import and export— has dipped, after trending up. 

But NZ Herald Business Editor at Large Liam Dann told Kerre Woodham economists are forecasting anywhere up to 4.7% inflation for the December quarter, which is pretty ugly. 

He says even if the Reserve Bank were to look through the impact of oil prices, the Consumer Price Index would still rise around 3.2%, which they can't ignore.  

Dann says it's one of the reasons economists expect them to hike interest rates. 

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We may be at a turning point when it comes to property investment. 

Cotality data shows residential property is worth $1.66 trillion and still accounts for more than 50% of all household assets.  

But it also shows property sales and values are largely subdued.  

Chief Property Economist Kelvin Davidson told Kerre Woodham over the last couple of decades, strong capital gains and low interest rates were a big driver for the housing market. 

He says mortgage costs went down and selling provided capital gains as well, but this potentially won't last into the future. 

Davidson says property investment will probably need to be done a little bit differently, focusing on active management and cash flow rather than relying on capital gains.  

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Inflation's eased up slightly - but it's also become more persistent and widespread.

The official inflation rate has fallen in the past three months - from 4.1 percent to 3.7 percent - due to a brief fall in fuel prices.

But underlying core inflation has been rising and more items are increasing in price.

Labour's Finance Spokesperson Barbara Edmonds told Francesca Rudkin the government doesn't have a plan to tackle the rising prices. 

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National and Labour are offering quite different solutions to persistently high inflation. 

Headline inflation's eased back to 3.7%, but some economists say it could reach as high as 4.7% by the end of the year. 

Labour's Barbara Edmonds says freezing the fuel tax would address the single biggest factor – surging fuel prices.  

But National's Nicola Willis told Mike Hosking National would address the other two major factors – rates and electricity. 

She says they will push ahead with rates caps and continue consenting new energy projects. 

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