Category Archives: NZ Businesses

Cosgrave Brings Home Success from Harcourts International Awards

Bringing home yet another victory for New Zealand, Shaun Cosgrave has been placed as the eighth top sales consultant in the world in the 2016 Harcourts International Conference.

This position not only places Shaun as the top sales consultant in Harcourts in the Waikato, but it also places him as the top salesperson in New Zealand outside of Auckland and Christchurch.

This award is a nod to all the hard work he has put in over the last twenty years. In this time, he has won multiple national and international awards, including achieving the highest number of sales internationally in the company’s history. To date his career sales are over $700 million.

Shaun says there is one main thing driving his international success: listening to people.

“I think success in this business is really all about listening to people, and if you say you’re going to do something do it,” Shaun says. “There are a lot of voices out there – be one people can rely on.”

Shaun’s dedication to listening to people and helping them reach their goals is a great example of why Harcourts is such a well respectable company.

“Harcourts is a very highly-regarded and trusted company in New Zealand, and known for its commitment to a high level of customer service. That commitment results in very happy customers throughout the country who are then only too happy to recommend us to their family and friends,” says Harcourts International Managing Director Mike Green.

“That’s how our New Zealand offices generate excellent levels of repeat business and satisfied customers.”

Curated from Shaun Cosgrave

NZ Dollar Not Quite As Strong As Black Caps

While the New Zealand Black Caps are on par with the Australian Cricket team, the New Zealand dollar isn’t quite as strong . While the NZD seems to be reaching parity with the AUD, Finance Minister Bill English says there is no reason for it to pass the “psychological level”.

Since around 4am on the 19th of February, the New Zealand dollar has been consistently trading above A96.5c, just below the A96.78c level set on Monday, the highest since the currency was freely floated.

Chief Economists and experts are positive about the New Zealand dollars potential to reach parity. ANZ’s New Zealand chief economist Cameron Bagrie has predicted that at some point in 2015, New Zealand will reach currency parity with Australia. The Royal Bank of Scotland’s Asia Pacific team says its possible that parity could be surpassed.  The Australian dollar could eventually buy as little as NZ95c.

Today English said he had seen the prospect of parity with Australia raised before, and while it has come to nothing so far, the prospect was looming.

“It’s been close [to parity] before and it dropped back. It’s quite a big psychological level for the market to get over so we’ll just wait and see. I’ll believe it when I see it.” He told reporters in Parliament.

Information curated from Stuff.co.nz.

Failed Fashion Firm Owes 2.3 Million

Catherine’s Fashionwear found itself being collapsed into receivership after being fashionably late in repaying creditors. The store imported sporting apparel and outfitted numerous sporting teams. That was until it’s collapse in July 2013 when the court took action, bought about by Heartland Bank.

Reports by receivers James Greenway and Andrew Bethell of BDO told NZ Herald that creditors were owed $2.3 million and a complaint had been laid with the Serious Fraud Office after discrepancies were found in the accounts.

“These practices resulted in the level of accounts receivable and stock being substantially overstated in the company’s financial accounts,” the reports said.

Liquidator Jurgen Herbke said Catherine Casey, founder of Catherine’s Footwear and the owner of CGG were in dispute over who to blame for Casey’s failure. “She blames the funder and owner, and he blames her – but because of holidays I haven’t yet had time to get to the bottom of these claims,” he said.

NZ Firms Trim Inflation Expectations

New Zealand firms have trimmed their expectations about inflation as the consumers price index rises. Two-year inflation expectations were lowered to 2.06 per cent from 2.23 per cent, and respondents anticipate a 0.26 per cent lift in CPI in the December quarter, followed by a 0.4 per cent rise in March.

“The Reserve Bank recently adjusted its interest rate guidance, suggesting that fewer OCR hikes will be necessary because inflation has turned out surprisingly tame,” Westpac Banking Corp’s New Zealand chief economist Dominick Stephens said in a note. “This fall in inflation expectations helps to vindicate the Reserve Bank’s stance.

Indeed, the magnitude of this decline in expectations might even contribute towards a further downgrade in the RBNZ’s interest rate forecasts.”

The CPI rose at an annual pace of 1 per cent in the September quarter, below expectations, and only just within the Reserve Bank’s target band of between 1 per cent and 3 per cent.

Strong inbound migration and a depreciation in the kiwi dollar during that period had been expected to put pressure on consumer prices, and the central bank has been surprised by the lack of inflation in the economy.

However unemployment is expected to fall in the upcoming years. But this won’t translate into higher wages.

Sourced from the NZ Herald

Spark Boasts of the Rebrand’s Success

Earlier this year, Telecom made a much contested decision to rebrand the company to Spark. A lot of arguments were made about whether the Telecommunications giant would recover the $20 million efforts of rebranding.

However at an annual meeting, the company boasted that the rebranding was well worth it. Stuff.co.nz said, “Taking into account dividends and Spark’s rising share price, shareholders would have seen a 53 per cent return on their investment since it embarked on its “transformation strategy” in June last year, Verbiest said. Spark shares broke through $3 last month for the first time since 2008.”

Online Brands claimed, “Although Spark was attempting to cut costs quickly, sales were falling faster.Operating earnings were down by 5.8% and net earnings from ongoing business fell by 12.5%. Although rebranding is potentially a risky venture amidst financial uncertainty, It has been largely successful. Following rebranding, Spark’s annual profit almost doubled. “

Z Energy Enters Price War

Z Energy has been struggling in the last quarter. In an attempt to regain market share, Z Energy has entered a price war matching competitors discounted prices.

This is due to Z’s poor economic performance over the first half of the year. They recorded an after-tax profit for the six months to September 30 of $22 million, down from $56m in the same period last year.

Z Chief Executive Mike Bennett discussed this with Stuff.co.nz. He stated,

“Percentage wise it might be something like 35-40 per cent of our volume is subject to a margin less than the one you would otherwise get at the main port price.

“We are sending a very strong message to our competitors that we will be price competitive at all of our locations relative to their alternative.”

This heavy price slashing is great for consumers and businesses relying on transport – which is almost every business in some form. However one has to wonder whether Z Energy will survive it.

Small Businesses Hard Work Pays Off

Small to medium sized businesses are being well rewarded for their hard work says the latest MYOB Business Monitor Report. The ghosts of the global financial crisis are no longer affecting small to medium New Zealand businesses.

Stuff.co.nz claims, “The latest MYOB Business Monitor Report, which analysed more than 1000 small and medium enterprises since July 2009, found 39 per cent of SMEs reported an increase in revenue in the past 12 months compared to 19 per cent that reported a drop in revenue.

By contrast, in 2009 just 22 per cent of SMEs reported an increase in revenue compared to 35 per cent reporting a decrease in revenue.

MYOB chief executive Tim Reed said New Zealand SMEs had worked hard to climb back to growth since 2009, particularly in the past two years, which was largely a result of improved productivity.”

Reed also claimed that our SME’s are outperforming Australia’s, which have been relatively static. Reed said, “New Zealand’s SMEs have really shown how it’s done, in terms of building growth and making the most of their resources in often challenging circumstances.”

This doesn’t mean New Zealand businesses wanting to jump the ditch should plan otherwise. Here are some great tips for succeeding as a Kiwi brand in Australia.

Heat Pump Installer Lets Customers Choose their Special

Till the end of October, a heat pump installer is trying a new kind of offering. Instead of giving a generic special which customers can either accept or decline, customers can now choose between two specials.

Customers looking for heat pumps in Hamilton can choose between paying nothing for 9 months or paying no interest for 12 months.

fujitsu_finance_deal

This special is only available for those in Auckland, Waikato,  and Tauranga. Those in Auckland may want to pay special attention to this offering.

With the Auckland council planning to ban open fireplaces and wood burners, it may be time to consider getting a more health conscious and easily maintained heat pump.

According to the NZ Herald, A new wood burner and flue can cost about $3500, heat pumps cost about $2000 for a small room, a 2000 watt heater costs less than $100 and four cubic meters of firewood costs around $400. So heat pumps appear to be one of the most economic and effective ways to heat your home!

PressureBall’s Inflated Sales

In September 2014 PressureBall achieved their biggest month of sales ever. And these sales weren’t just above their previous month – they were almost double.

A wide international market has picked up on PressureBall’s potential. Sales were around the world to countries including USA, England, Ireland, Sweden and Japan. This is just another example of a New Zealand business scoring big in the international market.

PressureBall is an alternative to pressureless tennis balls. It’s an innovation that makes sure new tennis balls never lose their bounce. It is also used to restore old tennis balls pressure.

It’s encouraging to see local businesses expand their markets. Even better to see a lot of overseas interest! Local businesses should be encouraged and see that living in somewhere geographically isolated is not such a disadvantage anymore. Thanks to the Internet.

NZ Business Scores Big in International Market

Moving operations from geographically distant New Zealand overseas can be tricky business. But a New Zealand manufacturer has proved with the motivation it is easy to excel. Even so, one has to ask whether it is for everyone.

Mid to high-end shoe manufacturer Minx Shoes successfully moved offshores to Canada. The manufacturer had humble beginnings in a shoe factory in Waikanae. Now they are flourishing in Canada with an expected 400 outlets. Minx has further plans of globalisation through expanding into the UK.

However Dan Khan from Unlimited digital business magazine warns that moving off shores is not for everyone. He points out that competition for engineers is fierce and so it you are a tech company it may just be better to find talent at home. He also warns that the competitive landscape in the US is intense.