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Gian Businesses Index & Contractors in Levin and wellington NZ
 
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WHY NZ BUSINESS HAS PROBLEMS AND CANNOT

CLOSE THE DEFICIT

The NZ situation looks increasingly gloomy as more manufacturers close and small businesses will close or foreclose in the coming year 2010 as tax hikes are bound to happen. The hike in RUC and Registration, ACC charges will not help matters and that Provisional tax will hit more than a few businesses who are already struggling. Commercial shops are closed eg. Palmerston North has one of the highest closures of shops? around the square as rents don't come down and people are too sccared to open a retail shop due to the running costs. Hey but this makes sense when you have to pay min $400NZ a week rental-- then the other utilities.

 

As at December 2009 New Zealand’s company tax take is more than NZ$1 billion ($720 million) behind forecast and may remain weak into the next fiscal year of 2010. With a cash deficit for the first time in nine years in the 12 months through June we now have a deficit of NZ$3.27 billion, 60 percent worse than forecast in May. Our Gross sovereign debt was NZ$48.24 billion at Oct. 31 or 26.8 percent of gross domestic product. This may rise to 39 percent by June 2013 so where does that take us?? hell or heaven. CS (Child Support) is owing over $500m from overseas mums and Dads who have left the country but they can get caught in Australia now. eg you cannot leave the airport in Aus if you owe child support!!!

 

   

 

NZ companies are on the move bigtime!!!!!

NZ'ders are going to find it hard. Tax owed by stressed businesses is up $182 million, and some may fail under the pressure of tax payments, holiday wages, much higher interest rates and slow trading around Christmas. In the year to September the tax negotiated under payment plans with Inland Revenue had risen by 17 per cent to $1.25 billion. Unlike larger and more public companies, small and medium-sized enterprises had limited options to raise cash and banks are now more careful in lending to smaller businesses so many will struggle in the next 3 months or so as even with a good credit rating Banks may not lend now. Next year will be a trying period for many businesses in NZ who will go against the wall as theior mounting debts start now for the Xmas bonus, holiday pays, taxes due etc come up.

In the housing properties are overvalued by 25% and many think the subprime never happened but rents, costs, income etc don't match the high prices for houses. You will find the big cities are where the house prices are higher compared to rural and its these big cities where homes are being built extended etc. but again the costs of building materials is sky high.

58,541 people were on the Unemployment Benefit at the end of November 2009. Treasury’s worse-case prediction was for 85,000 on the dole etc so that yacht below is not for you.

WHY ARE MANUFACTURERS & BUSINESSES LEAVING NZ:

Second to dairy and meat produce the wood industy seems Ok here but some are looking at the 0 tax duties in Thailand now to send and manufacture over there as prices increase here. It makes sense. NZ is at the end of the world and the cost to send raw materials into NZ is too expensive. 30% of all containers in and out of NZ are empty as its at the end of the road (sea) & the main shipping companies do not come here because of this reason. The landing costs in NZ are expensive for wharf charges & slow in comparison for clearing plus freight clearing agents charge premiums --can take up to 2 weeks to clear a container as MAF are slow and companies do not care and theres still the odd pilfering on the wharf it seems. The you have the transport costs eg. a small kitchen unti from Feilding to Levin $300 and a FCL 20ft from Wellington to Levin around $900NZ --not bad? but worse if you don't have your own truck etc.

Next is salaries: companies who employ workers cannot pay the high salaries & Xmas holiday pays expected for the returns they receive in production as the Government then levy their taxes + ACC & the power boards & telecom charge exhorbitant rates for power & phone commercial rate charges that it does not make it worth while to have a manufacturing company in NZ. The employees say they cannot pay for the cost of living so need higher salaries?? Then you have the health and safety issues & the Unions all wanting levies and then you have a Company struggling to survive. This is the norm in NZ and will remain so as it is not worth trying to set up any manufacturing business in NZ when there is no incentive for the business owner. The issues are economics nothing else and many a time the owner is blamed for moving when in fact he has no say in the matter otherwise he will go bust.

[ Finance Report 2010 ] [ Property Report July 2010 ] [ Crafer Dairy Report 2010 ] [ Property Report May 2010 ] [ Kiwisaver good or bad Providers ] [ George Soros Mortgage answers March 2010 ]

However read the reasons why NZ has lost the plot ---[ Compare to Thailand ] & why more factories are heading abroad now. It makes sense. [ Check WHY THAILAND ] is better for Manufacturers & any Kiwi Company. Why NZ is lost [ NZ Deficit increases ] [ China buying us ]Yes we owe money????? & we will owe more [ Transmission Gully Road costs ] [ Levin Business dying ] [ Truck panel & Paint ] [ Kiwisaver ] [ Kiwisaver good or bad Providers ] [ Kiwi Family Savings Plan ] [ Waitarere fishing Contest Easter ] [ Property Report May 2010 ] [ Electric Power Increase ] [ Benefit cuts good or meaningless ] [ Quit smoking-heres how ] [ Government $250m a week borrowing ] [ NZders lose out ] [ World population exploding ]

"You won't regret moving to Thailand believe mef"

 
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