Today I want to highlight Tony Alexander – Anyone else enjoy the breath of fresh air Tony Alexander has been offering when he shares his economic predictions for NZ?
Tony is a well-respected NZ economist and, if you haven’t already, I recommend checking out his latest economic update. Tony’s view is there is wealth of opportunity for NZ business to grow as we transition into our post-COVID way of life.
His glass-half-full approach comes on the back of a survey revealing 29% of respondents plan to spend more in the coming months specifically to help out the business sector, with 28% admitting that money they were planning to spend overseas, will now be spent locally to fuel the NZ economy. In short, there’s a lot of good will out there for kiwi SMEs. While Tony doesn’t doubt an inevitable downturn in the medium term, it needn’t be doomsday for those who play their cards right, as he predicts an upturn at some point next year as part of a proper cyclical surge in spending.
“Don’t get yourself through until the middle of next year and have customers saying ‘I wonder if xyz company made it through’. You want to make sure your customers, your potential future clients, know that you are going to be there when the more sustained upturn does come along.” – Tony Alexander.
Similarly, don’t be apathetic when it comes to the bounce-back we are already starting to experience.
Take the opportunity to bank some money while you can, focus on your MARKETING and look at your processes now to avoid the ‘invisible loss’.
In other news, the fallout on media companies (many which were under stress already before CV-19 continues. Stuff was sold for just $1.00 a week ago and now Mediaworks posts a $25M loss and states it is unsure if it can keep trading. Media does perform a valuable service in democracies, questioning independently decisions made by Govt, Councils and in fact, anything they believe is in the “public interest”. To have one only or very few media companies is a weakness in society processes but they need to move to more viable business models fast in the digital world we now live in. Associating with other similar companies and changing their “offer” to the public is key.
Volatility returns to the financial markets – lead by a 1600 point loss in the Dow Jones Index in the USA overnight. An increase in Texas for the past 3 days in hospitalisations due to CV-19 just as they were re-opening their economy was bad news as this means deaths may exceed 200,000 people in America by Sept according to medial advisors. USA will not shut its economy so the cost of this decision is much higher deaths which is of course, a terrible price to pay – especially when it occurs in your own family. As Texas is a state favouring President Trump in the last election, it will be interesting to see if higher deaths have a political consequence when USA elections are held in November? Bitcoin and other token currencies as well as the stock indices worldwide have soared on the hopes of a quicker recovery than suggested by medial officers in March and so if this a longer downturn or a temporary hiccup?
(NZ firms Fletchers and Downer ‘fuming’ as $371m Govt KiwiRail contract goes overseas)
(Oil edges higher, even as U.S. inventory rise revives glut worries)
(Fletcher Building to lay off 1000 staff in New Zealand)
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