Mark Weldon announced today his perception that the NZ stock exchange is “fragile”.
The New Zealand government has called for a workshop to address the issues, Weldon stated that;
“I think New Zealand is reasonably fragile in some senses but I think were the New Zealand exchange to disappear, you really have completely hoisted the white flag and said we’ve got no hope.”
“All around the world, capital markets are important for broader economic growth and I think what you’ve got here shouldn’t really surprise anyone.”
I’m not sure there is much the government can do directly. Indirectly though there is plenty. As a start;
Invest in infrastructure to encourage businesses to form and grow (and eventually IPO)
Invest in governance for SME’s to allow them to grow
Create a dynamic and vibrant environment where business will want to stay (as opposed to selling offshore)
Look at the SOE issue - consider a partial divestment - Kiwisaver money needs to go somewhere and the NZX and SOE’s would seem like a natural place
The latest NZX Open magazine discussed the SOE issue while the next one (inside sneak preview) will look at ways to increase the number of sustainable, prosperous and locally domiciled entities on the NZX.
I love it when people come around to my way of thinking.
The unreasonablemen - after much discussion, deliberation and consultation, just posted that in fact they concur with my viewpoint that SaaS needs to be in the clouds (but that how far into the clouds can be debated).
Their defining feature list of SaaS;
The application sits in some sort of cloud – normally the internet, but can be a private cloud
It is multi-tenanted
It requires no / minimal onsite configuration
Bills on some sort of user pays or subscription model.
I’m not sure I entirely agree with the billing part though - Google apps is SaaS (and I guess advertising revenue kind of constitutes user pays - in a round about way).
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