New Zealand others

Interesting facts about New Zealand

Business culture

doing business in New Zealand

  1. Entrepreneur-friendly: Entrepreneurial spirit is highly valued in New Zealand, with many courses available for owners of new businesses and startups. There are even government counsellors who provide advice on tax obligations and other compliance requirements for new businesses;
  2. Language: English is the only international language widely spoken in New Zealand. Communication is therefore simple for our Clients with good English skills, but those with weaker English skills may struggle;
  3. Relaxed: New Zealanders enjoy a measured pace of life and are relatively laid-back. Consequently, high-pressure sales tactics often backfire and are not advisable. Sales and negotiations take time;
  4. Fair trading and compliance: New Zealand is a well-governed jurisdiction, where failure to comply with the law is not an option. Late tax payments will attract sanctions and the government will punish businesses convicted of treating their customers unfairly. New Zealand’s fair trading laws were recently strengthened by increased penalties recently increased penalties;
  5. Social security: Entrepreneurs benefit from a social safety net that provides health insurance and other perks for them and their employees. However, this translates into higher tax payments once the business is profitable;
  6. Environmentally conscious: New Zealand boasts a beautiful environment that the people and government work hard to preserve. Environmentally conscious businesses therefore have a marketing advantage in the country.

Business etiquette

  1. When addressing people in formal situations, refer to them by their title (Mr., Ms., etc.) and then their last name until invited to address them otherwise;
  2. A firm handshake with eye contact is the typical greeting between both men and women in business settings;
  3. Haggling isn’t expected in New Zealand, so prices are usually fixed or have only limited room to negotiate;
  4. Work with facts and hard data and avoid exaggeration – New Zealanders are savvy and look for results rather than bravado.

Economy

  1. New Zealand’s GDP is US$172.2bn, with the per capita figure sitting at US$37044.89. Although the cost of living is relatively high due to the costs of imports and intra-national transport, disposable incomes remain high;
  2. New Zealand’s major exports are dairy products, meat, petroleum products, wood, fruit and aluminium. Tourism is also a major earner of foreign currency. Major imports are machinery, motor vehicles and petroleum products;
  3. Sheep farming is a major business in New Zealand. With a headcount of 30 million, the sheep population outnumbers humans in New Zealand by 7 to 1.

Geography

  1. New Zealand is sparsely populated, with only 4.7 million inhabitants. Auckland is the largest city with a population of 1.2 million people, while Wellington, the capital and 2nd largest city, has only 400,000 inhabitants;
  2. Traversing the country’s two islands can be difficult, as the country is 990 miles long and has mountainous terrain in many areas;
  3. A big challenge for New Zealand businesses is the relative isolation of the country. Customers and business partners will be often reluctant to attend regular face-to-face meetings due to the long flights necessary to reach New Zealand;
  4. New Zealand’s temperate climate means that temperatures are mostly comfortable throughout the year. This also translates into relatively high rainfall, so be sure to have a raincoat.

History

  1. Like Australia, New Zealand was colonized by the UK during the 19th century. However, the local indigenous population, the Maori, managed to preserve their traditions far than better the Aborigines in Australia. Maori people and culture therefore play an important role in New Zealand commercial and social life today.

Fun facts

  1. NZ’s richest sportsperson is Steve Williams, former caddie to Tiger Woods (the next fact might have had something to do with this);
  2. New Zealand has the highest number of golf courses in the world; there are approximately 400 golf courses in the country;
  3. The Kiwi is not only a fruit, but also a flightless bird that is found exclusively in New Zealand;
  4. New Zealand people are ranked as the 5th happiest people in the world according to Forbes, and they also boast the 7th highest score on the human development index calculated by the United Nations Development Program;
  5. With equal pay legislation originating from 1972, New Zealand has a proud history of egalitarianism and progressiveness. New Zealand was the first country in the world to give women the right to vote in 1893 and it has had universal social security system since the 1930s.

Contact us

For additional information on our company registration services in New Zealand, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Mr. Simon Guidecoq, directly:
client relationship officer - Simon