A business needs to be governed with “a good understanding of the facts” and a “robust” legal team, according to new advice from the country’s Business Council.
Key points:The council has published a report calling for a change to business laws, including a review of the country ‘s ‘soft touch’ approachThe report also calls for “strong and accountable” government oversight”The council, which represents more than 40 per cent of all New Zealand businesses, released a report today calling for change to the way business is run and the Government to establish a “soft touch” approach to business in the country.
The Business Council of New Zealand (BCN) released the report in response to the Government’s recent review of business laws and the introduction of a “business council”.”
The Government is determined to deliver a more open and transparent New Zealand and it is clear that it will take its responsibility to do so seriously,” BCN CEO Steve McInnes said.”
Businesses need to be able to operate in a more responsible manner to protect their assets, and to make decisions that are right for them and their shareholders.”‘
Soft touch’ lawsNew Zealand is one of the few countries that have no “soft-touch” business laws.”
Soft touch” means a company can apply to be a franchisee, a limited company, or a non-profit organisation without a specific licence.
However, that has come under fire as some businesses have been found to be using the system to take advantage of low or no taxes.
The BCN is calling for “robusting” legislation to replace the “soft touches” in New Zealand.”
There are a number of ways in which businesses can benefit from this reform.
First, businesses will be able now to apply for a licence to operate, and that will mean more investment in the workforce, better product, and more competition for our talent,” Mr McInnsays.”
Secondly, the change will enable businesses to be more transparent and accountable, and this will result in stronger and more accountable business governance.
“Thirdly, it will also enable the Government and other Government departments to better understand and manage the risks associated with business and the economy, and will help to keep New Zealand’s businesses growing and thriving.”
Mr McInnis said the Government needed to look at how the country could better manage and manage its business and that required a “very strong” and “robotic” approach.
“A strong and responsible Government, with a clear and comprehensive plan to manage the business, the economy and the environment, will be in a position to take on these challenges,” he said.
He said the Council wanted a review into the “federal model” of business in New England, which is designed to be “fiscally responsible and socially responsible”.
“We need to take a hard look at what the federal model is and what we need to do to ensure it is sustainable and sustainable for the long-term, and ensure it’s a model that is not only in our interests but also in the interests of the people of New England,” Mr McMinnes said.””
It’s clear that this model needs to change and a new model of business regulation and regulation is needed.
“The report says it is important for businesses to understand the “facts” of what is going on in New Hampshire, as it is the most “tax-friendly” state in the US.
The report calls for a review and reassessment of the “hard touch” model of New Hampshire and says businesses in the state should be able “to operate in New York, California, New Jersey and the rest of the US without a hard-touch licence”.”
There is no question that there are some challenges associated with that model,” the report says.”
The hard touch model is not without its issues.
For example, there are more taxes and duties than we are currently taxing and taxing too much.
But, overall, it is an effective way to operate.
“Mr McMinens also wants the Government “to have the courage to take action” in order to “re-establish a new business model” in the UK.”
This new model must provide a strong and credible regulatory framework to ensure the proper application of New York and California laws to New Zealanders, and in particular New Zealand companies,” he says.
Topics:business-economics-and-finance,business-administration,government-and‑politics,government,nsw,new-zealandFirst posted September 28, 2019 09:57:23Contact Nicola McInnney