We suspect some readers – maybe many – faltered when Finance Minister Grant Robertson announced he has approved the terms of reference “for an inquiry into the economic contribution of New Zealand’s frontier firms”.
Frontier firms? What are they and give us some examples?
Robertson explained that these are the most productive firms in the domestic economy within their own industry.
“These firms are important as they diffuse new technologies and business practices into the wider New Zealand economy.
“While we do have some world-leading firms, we need them to lift performance and productivity to create a pathway for more firms to succeed on the world stage,” Grant Robertson says.
He referred to work undertaken by the Productivity Commission in 2016 which suggested that New Zealand’s firms – on average – were about one-third less productive than international firms in the same industry. Continue reading “How NZ’s productivity growth might be fostered by finding what makes “frontier firms” tick”