Waikato Business News October/November 2022

S E P T E M B E R / O C TO B E R 2 0 2 VOLUME 30
WAIK ATO REGION’S
The Waikato region’s voice of local business
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12 WAIKATO BUSINESS NEWS, OCTOBER/NOVEMBER 2022
MYOB announces the New Zealand winners
of its 2022 Partner Awards
Business management platform
MYOB has unveiled the winners of its
anticipated Partner Awards for 2022,
celebrating those who have supported
businesses of all sizes to thrive and
succeed, together.
The New Zealand winners
of the MYOB Partner
Awards 2022 for
Accounting Practice of the Year
are Waikato-based firm Singh &
Associates Ltd.
For the second year running,
Accounting Practice of the Year
New Zealand was awarded to
Singh & Associates Ltd, who
judges say embodied this year’s
theme of ‘thrive and shine’ and
are investing in their growing
team.
The practice is actively
involved in the community and
participates in the ‘Mana in
Mahi’ programme supported
by the Ministry of Social Development,
focused on providing
long-term employment for people
starting a new career.
This year marks the 14th year
of the awards, recognising the
accountants, bookkeepers and
consultants who go above and
beyond to ensure local small and
medium businesses succeed.
The awards run across Australia
and New Zealand and
span five categories; Accounting
Practice of the Year, Bookkeeping
Practice of the Year, Certified
Consultant of the Year, as well
as the debut awards Educator
of the Year and Education Partner
of the Year with the two new
awards recognising the educators
and institutions that are
inspiring the next generation of
professionals.
The Partner Awards were
judged by a panel of MYOB
executives, including chief sales
and support officer – Daniel
West, who says the awards are
an opportunity to reflect on the
important role accountants and
bookkeepers play in supporting
businesses to achieve their
ambitions.
“We’re emerging from two
incredibly challenging years and
our partners have been there
every step of the way, creating
a path of opportunity for the
businesses they serve. Partners
are a vital asset in our business
community and our awards
platform is designed to help celebrate
and recognise all their
efforts – putting leaders among
our partner community in the
spotlight,” West says.
“This year was all about celebrating
those who have helped
their customers to thrive and
shine together, and our winners
have really embodied that notion
across the last 12 months.”
Bank customers manage home loans and credit
cards well in challenging times
At a time of rising
costs, consumers are
continuing to manage
their credit cards and home
loans well according to data
insights released by the New
Zealand Bankers’ Association
today.
“In these challenging times
it’s great to see people using
banking products and services to
help stay ahead financially,” says
New Zealand Bankers’ Association
chief executive Roger
Beaumont.
“Nearly 46 per cent of people
with a home loan are ahead
on their repayments, which is
up 1.8 per cent compared to the
previous six months. People
behind on their loan repayments
dropped from two per cent of
all home loans to 1.05 per cent,
which is a very positive trend in
the current environment.
“This means many people
with home loans continue to be
well placed as interest rates rise
from historic lows. As interest
rates declined over recent years,
these borrowers likely retained
their repayments at the same
level, or increased them, to help
repay their loans faster, which
shows a good level of financial
capability.”
The information relates to
the six months from January
to June 2022 and was collected
and aggregated from NZBA’s 10
main retail member banks.
In this period customers
took out 44,681 new home loans,
of which 58.2 per cent were
issued to first home buyers. The
average value of all home loans
was $304,655, and the average
of value of home loans for first
home buyers was $505,741.
“People are also managing
their credit cards well, with 66.6
per cent of card balances paid
off in full without incurring any
interest costs. We’re delighted to
see people showing they know
how these products work and
getting the most out of them.
“While consumers are being
smart with home loans and
credit cards, it’s also fair to say
that banks are continuing to lend
responsibly. That’s particularly
important as we face some economic
headwinds.
“Anyone experiencing financial
difficulty should contact
their bank as soon as possible.
The sooner you talk to your
bank, the more likely they’ll be
able to help.
ISSUE 9
9 in 10 workplace
decision makers read
Print media
Iconic Construction - Line of beauty
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