Articles tagged with Business
Open Banking Expands to Business Banking, Boosting Productivity and Growth
1 week ago | 79 viewsOpen Banking will be expanded to business banking channels, enabling businesses to share banking data with trusted providers to access faster loan comparisons, automated accounting, and improved cashflow management. This initiative aims to save businesses time on administrative tasks, boost competition, and enhance productivity, particularly benefiting small businesses by providing clearer financial insights and reducing manual work. While large corporates are exempt due to limited demand, the government prioritizes Open Banking as a key tool to support small business growth and efficiency.
Tags: Scott Simpson Chris Penk Open Banking business banking fintech small businesses loan comparisons automated accounting cash flow productivityStats NZ Moves Over 60 Business Surveys Online to Ease Burden by 2026
2 weeks ago | 204 viewsStats NZ is transitioning over 60 business surveys to an online platform starting August 2026 to reduce the administrative burden on businesses and modernize data collection. This shift, praised by Statistics Minister Dr Shane Reti and Small Business and Manufacturing Minister Chris Penk, particularly benefits small businesses by making survey completion faster, more convenient, and less disruptive. The move aims to improve response rates and ensure timely, accurate insights for policymaking while allowing businesses to focus on growth.
Tags: Stats NZ Dr Shane Reti Chris Penk business surveys online surveys small business manufacturing New Zealand Labour Cost Index Business Price IndexRe-Energise 26 Report Calls for Coordinated Action to Build NZ Energy Workforce
2 weeks ago | 219 viewsThe Re-Energise 26 report highlights the urgent need for coordinated efforts to build New Zealand’s energy workforce to meet growing sector demands and avoid missed opportunities. Key challenges include workforce uncertainty, training pipeline issues, and critical role shortages, while opportunities lie in unified talent development and clearer career pathways. The government, industry, and educators must collaborate to strengthen skills, improve job connections, and support regions facing industry decline to ensure a sustainable energy sector future.
Tags: Louise Upston New Zealand Energy Resources Aotearoa Electricity Engineers’ Association Ministry of Business Innovation and Employment Social Development and Employment Minister energy workforce energy sector governmentNew Zealand Releases Oil Tickets to Support Global Supply Amid Strait of Hormuz Closure
3 weeks ago | 381 viewsNew Zealand will release 1.577 million barrels of crude oil purchase options, known as oil tickets, to support the International Energy Agency’s collective response to oil supply disruptions caused by the Strait of Hormuz closure. This contribution, part of a larger IEA release of 400 million barrels, aims to ease global refinery pressure and stabilize markets without affecting New Zealand’s domestic fuel security. The released tickets pertain to crude oil and fuels incompatible with New Zealand’s system, meaning no physical oil supply will be directly released.
Tags: New Zealand International Energy Agency Shane Jones Strait of Hormuz oil tickets crude oil fuel security Middle East Ministry of Business Innovation and EmploymentNew Zealand Maintains Strong Fuel Stocks with 49 Days Supply Amid Global Uncertainty
3 weeks ago | 340 viewsNew Zealand currently maintains healthy fuel stocks, with about 49 days of petrol, diesel, and jet fuel supply available, including fuel in storage and shipments en route. The government is enhancing fuel data reporting and working closely with industry to monitor supply risks, ensuring readiness amid global uncertainties like the Strait of Hormuz closure. Authorities emphasize there is no need for fuel restrictions at this time, assuring the public that any changes will be communicated promptly with mitigation plans in place.
Tags: Nicola Willis Shane Jones New Zealand fuel stocks petrol diesel jet fuel Ministry of Business Innovation and Employment fuel security Strait of HormuzNew Zealand Boosts Economy with Faster Overseas Investment Approvals and New Visas
1 month ago | 259 viewsThe New Zealand Government has introduced a two-track system under the Overseas Investment Act to speed up investment decisions, aiming to process most applications within five to 15 working days, significantly faster than before. This reform, along with increased Active Investor Plus visa applications, is expected to bring billions in overseas capital, supporting economic growth, productivity, and high-paying jobs by providing access to international capital, expertise, and technology. The Government emphasizes that attracting foreign investment is essential for New Zealand’s future as a high-income economy and is committed to removing barriers to help businesses grow and create opportunities for Kiwis.
Tags: David Seymour Erica Stanford Overseas Investment Act New Zealand Active Investor Plus golden visa overseas investment Kiwi businesses economic growth investment applicationsNew Zealand Welcomes Second Private Building Consent Authority to Boost Efficiency
1 month ago | 425 viewsNew Zealand has approved its second private Building Consent Authority (BCA), Farsight NZ Limited Partnership, to increase competition and capacity in the building consent system, aiming to reduce paperwork and speed up approvals. Farsight will manage key building control tasks for Summerset, a major residential builder, which will help alleviate pressure on council BCAs and improve consistency in applying the Building Code. All BCAs, including private ones, must meet strict accreditation and legal requirements to ensure strong consumer protections and efficient service delivery.
Tags: Chris Penk Farsight NZ Limited Partnership Building Consent Authority Building Consent Approvals Limited Summerset Ministry of Business Innovation and Employment Kāinga Ora International Accreditation New Zealand Building Code New ZealandNew BoardConnector Database Boosts Women’s Leadership Roles in NZ
1 month ago | 386 viewsA new database called BoardConnector has been launched to support women's progress into leadership and governance roles in New Zealand, providing access to training and a pool of governance-ready leaders. Minister Nicola Grigg emphasizes that increasing female representation on boards strengthens decision-making and economic growth, while addressing gender pay and retirement savings gaps. Despite progress, women hold only 31 percent of private-sector director positions, highlighting the need for tools that drive meaningful change and economic empowerment for women.
Tags: Nicola Grigg International Women’s Day women’s leadership BoardConnector governance female directors economic empowerment gender pay gap New Zealand women in businessNew Zealand and Uruguay Strengthen Partnership to Boost Trade and Cooperation
1 month ago | 325 viewsNew Zealand and Uruguay have reaffirmed their partnership as small, export-oriented democracies facing global challenges, emphasizing cooperation in trade, education, sport, science, and culture. Foreign Minister Winston Peters highlighted mutual interests in promoting democracy, human rights, and a rules-based international system, as well as expanding business engagement, particularly in high value-added sectors like forestry and agribusiness technology. Discussions also covered major international issues and the importance of strengthening bilateral ties, with Peters continuing his diplomatic tour in Latin America and the Pacific.
Tags: Winston Peters Yamandú Orsi Mario Lubetkin Ricardo Shaw New Zealand Uruguay democracy trade policy bilateral cooperation agribusiness technologyNew Insights Reveal Why and How New Zealanders Travel Domestically in 2025
1 month ago | 313 viewsThe new Domestic Visitor Survey, conducted in late 2025, reveals that three in five New Zealanders took overnight trips and nearly half took day trips in the previous six months, with main motivations being visiting family and relaxation. Domestic tourism accounts for about 60% of New Zealand's tourism expenditure, making these insights crucial for industry planning and responding to travel trends, especially as international visitor numbers recover post-COVID. The survey highlights high trip satisfaction, common planning methods, and barriers like cost and weather, with further data releases planned to support ongoing tourism development.
Tags: Louise Upston New Zealand Domestic Visitor Survey Tourism Hospitality Verian Ministry of Business Innovation and Employment Tourism Evidence and Insights Centre Covid CensusGovernment Expands Digital Manufacturing Light Program to Boost NZ Manufacturers
1 month ago | 293 viewsThe New Zealand Government is expanding the University of Auckland’s Digital Manufacturing Light programme to help at least 180 small and medium-sized manufacturers in key regions adopt affordable digital technologies, boosting productivity and workforce skills. The programme provides tailored assessments, installation support, and training to integrate low-cost, off-the-shelf technologies without major capital investment, enabling manufacturers to modernize operations and gain real-time insights. This initiative aims to enhance competitiveness, drive innovation, and contribute significantly to the national economy, with potential GDP growth of $8.6 billion from faster digital adoption.
Tags: Chris Penk University of Auckland Auckland Council Xero New Zealand Institute of Economic Research Institute for Manufacturing University of Cambridge Digital Manufacturing Light Small Business and Manufacturing Minister New Zealand GovernmentEmployment Relations Amendment Bill Passed: Boosting Business Confidence & Worker Flexibility
1 month ago | 283 viewsThe Employment Relations Amendment Bill has passed its third reading, introducing reforms to enhance business confidence and create more job opportunities by clarifying contractor vs employee status and setting a $200,000 income threshold for unjustified dismissal claims. The Bill removes the 30-day rule to allow workers and employers to negotiate agreements from day one and ensures accountability for serious misconduct without rewarding employees financially. These changes aim to rebalance employment relations, providing more choice for businesses and workers, with most provisions taking effect immediately after Royal assent.
Tags: Brooke van Velden Employment Relations Amendment Bill Workplace Relations and Safety Minister employment law contractor vs employee unjustified dismissal employment agreements business confidence workplace reforms Royal assentNew Zealand Passes Health and Safety Amendment Bill to Support Safer Workplaces
1 month ago | 375 viewsThe Health and Safety at Work Amendment Bill, welcomed by Minister Brooke van Velden, aims to reform New Zealand’s workplace health and safety laws by providing clearer guidance through strengthened Approved Codes of Practice (ACOPs) and clarifying WorkSafe’s regulatory functions. The Bill introduces practical changes, such as creating safe harbours for compliance, easing obligations for small low-risk businesses, and defining directors' due diligence duties to reduce duplication and focus on governance. These reforms seek to reduce business uncertainty and compliance costs while improving safety outcomes by making WorkSafe a more consistent and supportive agency.
Tags: Brooke van Velden WorkSafe Health and Safety at Work Amendment Bill New Zealand Workplace Relations and Safety Minister Approved Codes of Practice WorkSafe regulator Health and Safety Act business compliance workplace safetyKiwi Tradies Gain Easier Access to Thousands of Australian Plumbing Products
2 months ago | 317 viewsNew Zealand’s Ministry of Business, Innovation and Employment (MBIE) has expanded recognition of thousands of Australian WaterMark-certified plumbing and drainage products, simplifying their use by Kiwi tradies and homeowners. This change, enabled by the Overseas Building Products Amendment Bill, reduces red tape by allowing Building Consent Authorities to accept these products as compliant without individual assessments, improving supply chain resilience and lowering costs. MBIE plans to continue reviewing overseas products, enhancing access to essential building materials like plasterboard, cladding, windows, and doors to support housing affordability and construction efficiency.
Tags: Chris Penk Ministry of Business Innovation and Employment MBIE WaterMark Building Act Overseas Building Products Amendment Bill Building Consent Authorities New Zealand Australia tradiesSouth Taranaki Green Hydrogen Facility Begins Construction with $19.9M Funding
2 months ago | 373 viewsConstruction has begun on a sustainable green hydrogen facility in South Taranaki, supported by a $19.9 million government investment and additional co-funding, with a total project cost of up to $112.3 million. The facility will supply renewable electricity to Ballance Agri-Nutrients' Kapuni site and produce green hydrogen for emissions-free transport, creating around 50 construction jobs and seven permanent roles. This project, a partnership between multiple organizations, aims to boost the regional economy by integrating wind energy, renewable electricity, and zero-carbon hydrogen fuel production at scale.
Tags: Shane Jones Hiringa Energy Parininihi ki Waitōtara Todd Regional Development Minister Ministry of Business Innovation and Employment Provincial Growth Fund South Taranaki New Zealand