Small and medium enterprises in New Zealand are experiencing financial strain due to rising fuel prices and increased KiwiSaver contribution costs, with a significant portion reporting insufficient cash reserves.
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New Zealand businesses are running on fumes with cash reserves dwindling amid surging fuel prices and KiwiSaver costs, all while the full shockwave hasn't fully hit yet. Prosper polling shows 17% of SMEs have less than a month of cash left, while Retail NZ warns retailers are bracing for a significant downturn as diesel prices jumped 150% in March. March. Second round effects are now emerging as well from inter-islander doubling surcharges to MERSC's 27% hit on New Zealand roots as global oil stocks plummet. Today on the front page, journalist and publisher of the Karka, Bernard Hickey joins us to explain why the fuel crisis reality is only just dawning, the supply chain pain ahead and what it means for New Zealand's economy.
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