Overwhelmingly New Zealanders are looking for honesty, integrity and high ethical standards and the failure of the finance companies has seriously shattered investing confidence.
Announcing the results of a Horizon Research survey conducted last week across 1000 people, the chairman of the NZ Cooperatives Association, Mr Blue Read said 70 percent of New Zealanders were now “less trusting” or “totally distrusting” of the honesty and integrity of businesses in New Zealand following the recent finance company failures.
Mr Read said New Zealanders wanting an alternative needed to look no further than the cooperative structure, which is well entrenched in our economy, was based on different principles to the investor-driven corporate businesses and had weathered the global financial crisis in relatively good shape.
“The Horizon Research shows 52 percent of New Zealanders prefer businesses that are owned by the people who use the businesses and 55 percent place greater trust in cooperatives,” he said. “An overwhelming majority of people don’t know about cooperatives, but are keen to learn more.”
“Cooperatives are making it through the global financial downturn a lot more intact in terms of their financial equity, integrity and reputational performance,” said Mr Read in launching the UN International Year of Cooperatives 2012 in New Zealand at Parliament today.”
The International Year of Cooperatives is a chance to highlight cooperative’s global successes, economic importance and contribution to the wealth of New Zealand.
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Source: Scoop Independent News website. From Press Release: New Zealand Cooperatives Association
