This month in finance is quite an important one as the pending Brexit decision in Europe starts to make trade deals a top agenda for the world’s governments. The knock on effect to the world of finance is huge. Let’s now take a look at some of the other stories that are trending this month.
Finance minister Grant Robertson has asked a question related to public finance which states ‘Should public finance be dragged into the 21st century?’, meaning that agencies should avoid adverse risks compared to what they did before. For the last decade, public finance, no matter where you live in the world, has always been a hot topic because the recession has had a long effect on growth. Maintaining growth in a company is vital for prosperity so any way in which government finance can be streamlined will be welcomed. The current system that is in place has a very high level of regulation which costs a lot of time and resources when it comes to implementing and adhering to these regulations. If these systems were streamlined it could go some way in reducing some of the revenue costs that governments incur. This year’s budget contained a number of joint ventures from different government agencies. This was to address the issue of domestic violence. Having so many agencies involved has a cost implication which means there must be a way of reducing this if you reduce the number of agencies without affecting the level of quality.
Entrepreneurs Of The Year
The Entrepreneur Of The Year awards is trending this month and there are seventeen business people from various industries making the final. The finalists are as follows:
Brianne West (Ethique)
Grant Taylor (Rascal + Friends)
Chloe van Dyke (Chia), Gavin Young (Trademonster)
Ezel Kokcu (Passphere)
Harry Zeng (New Zealand Healthcare)
Murray Holdaway (Vista Group)
Bronwen Thomson (Springload)
Ajay Kumar Agarwal (Global Financial Services)
Richard Conway (Pure SEO)
Yi Huai Gao (Alpha Health Care)
Shaun Holt (HoneyLab), Stuart Wilson (Modica Group)
Mohammed Hikmet (HMI Technologies)
Olie Body (Wa Collective)
Matt Graylee (Raw Material).
The businesses collectively have generated approximately 330 million in revenue and have managed to employ over 1500 people. This has been a great year for entrepreneurs in New Zealand and the winner of this competition will be entered to compete on the word entrepreneur of the year which is going to be held in Monaco in June next year. New Zealand is very proud of its achievements and the depth of talent and diversity will give the winner a very good chance in the world finals. The overall winner of this competition will be announced in October, which means there is still some way to go before the finalists receive their results.
Regulators of aviation in New Zealand, Australia and Europe have lifted the suspension and grounding of the Gipps Aero GA8 planes after the results of the enquiry of the crash which occured in Sweden. At first, the grounding came about because the initial information gathered stated that the plane had broken into bits. However, there was no evidence of this hence why the ban has been lifted. Graeme Harris, the director of civil aviation in New Zealand, has told travelers to rest assured that they are safe and any incidents that have been raised have now been tacked and dealt with. He went on to say that they will continue to monitor the investigation and take action where necessary, when it comes to matters of safety. The aircraft in question is typically used for skydiving and medical evacuations in remote areas. Any further developments will be reported.
Investments and insurance
Every year in finance, insurance is big business. Whether it is liability insurance, life insurance or wealth management, getting our insurance in order is very important. There are many companies out there vying for your business and due to the economic slowdown, the rates that they are offering can differ somewhat. As protecting your finances is important, many of us look to investing our money to see how we can make the best return. You can use tools such as an investment property calculator to help you see what investment you could return when investing in property. You could also use farm accounting software to help manage and regulate any income that you have. Because the global markets are so fragile at the moment, having a handle on your insurances and investment will put you in a good position if the world’s finance gets any worse. There has been a real push this month from the finance sector to encourage individuals to look at different rates for their savings and reduce their borrowing.
GDP is a way that we judge a country’s economic strength. A strong GDP often indicates that a country has a handle on inflation, strong growth and high levels of employment. However, many economists now argue that GDP does not give a true picture of a country’s performance. GDP purely provides a vague view of what is actually going on and it is not a precise science that many of us believed that it was. Many GDP figures are just estimates and look at economic activity and as we have mentioned above does not cover some of the major factors that could determine how financially buoyant a country actually is. Because the term GDP is branded around so much in the economic industry, people have latched on to this and taken it as gospel. The shift on the reliance on GDP will now start to highlight a country’s true finances, which may not look so bleak.
As you can see there are a number of stories that are trending this month and the world is very interested to see what will happen with the Brexit deal pending.