Latest news with #ThomasMcKinnon
The Citizen
5 days ago
- Business
- The Citizen
SMEs need to brace for reduced orders due to a 30% US tariff
The 30% tariff hike's impact will result in small profit margins, a risk of having to retrench employees, and slower business growth with fewer US sales. As of August 1, a 30% tariff on goods exported to the United States (US) will take effect, placing immense pressure on businesses, particularly small and medium-sized enterprises (SMEs). The automotive sector will be impacted severely by the 30% tariff hike, as the US is a significant export market for cars and car parts. Lula, an SME services provider, stated that businesses supplying parts, logistics, and services to these large manufacturers must brace for reduced orders, intense pressure on pricing, and therefore a significant loss of competitiveness against other exporters to the US, such as Brazil and China, which face only 10% tariffs. ALSO READ: US tariff of 30% on SA exports: where to now? Tariff hike to threaten job security Thomas McKinnon, Chief Growth Officer at Lula, added that the 30% tariff hike's impact will be felt more acutely and quickly by SMEs, as it will result in small profit margins, a risk of having to retrench employees, and slower business growth with fewer US sales. He highlighted that the agricultural and textile sectors, which have relied on the duty-free access provided by the African Growth and Opportunity Act (Agoa), are now left vulnerable. 'The tariff effectively neutralises the benefits of Agoa, jeopardising the livelihoods of thousands, particularly in rural communities that depend on exports of citrus, wine, and speciality textiles.' How can businesses survive with the tariff hike? McKinnon advises SMEs in these industries to shift their focus to reinforcing their unique value proposition while exploring new and emerging markets to absorb the capacity previously destined for the US. 'If your product offers exceptional quality, niche appeal, or a distinct competitive advantage, demand might persist even with higher tariffs.' ALSO READ: Ordinary South Africans will feel impact of US tariffs He added that from now on, every cent counts and businesses need to look for any big or small ways in which they can streamline operations, reduce waste, and negotiate better terms with suppliers. 'The tariffs will have a knock-on effect that we will more than likely see across the board, and SMEs need to be ready and prepared.' Can businesses survive? He said it is essential for businesses to recognise that most people are already financially strained. For instance, South Africans are paying significantly more for electricity after the Eskom tariff hike took effect. Therefore, for businesses to survive, they might need to absorb a portion of these tariff costs to remain competitive, making internal cost-cutting essential for maintaining margins. 'Consider short-term funding options to bridge any potential cash flow gaps during this transition period. Having agile financial solutions in place can provide a crucial buffer as SMEs adapt to the new economic landscape.' NOW READ: Trump's new 30% tariff less about trade and more about power
RNZ News
11-05-2025
- RNZ News
Coroner releases findings into death of Hemi James Rapaea in Hawke's Bay car crash
By Hannah Bartlett, Open Justice reporter of Hemi Rapaea was hitchhiking when the car he'd been picked up by crashed on State Highway 2. He died at the scene. Photo: File / New Zealand Herald When a truck driver came across a car that had crashed upside down on the road, there was a single passenger trapped inside, but no sign of the driver. The passenger, who was belted into the front seat, was responsive but three minutes after the truck driver called 111, Hemi Rapaea lost consciousness. By the time paramedics arrived half an hour later the Taranaki hitchhiker was dead . It's been nearly a decade since the crash on State Highway 2 and until now, it was unclear who was driving the Ford Fairmont when it flipped, south of Hastings. Now, Coroner Bruce Hesketh has named who he believes was driving, as well as the man he believes helped the driver flee the scene, on 10 March, 2016. The coroner was satisfied that, on the balance of probabilities, Thomas Albert McKinnon was driving and Maurice Tareha assisted him. He found the actions of the two men, known to be Black Power members at the time, reflected "unfavourably" on them, and gave them a chance to respond to his findings. They did not respond. Hesketh found Rapaea, who had been hitchhiking to Hastings after visiting a relative in Palmerston North, died from neck and chest injuries. He said the most likely reason the vehicle left the road was because McKinnon was fatigued and fell asleep. The coroner found Rapaea was still alive and responsive when McKinnon left the scene with Tareha, and they had failed to attempt CPR, nor did they call an ambulance. "It is unknown if the outcome would have been different if McKinnon had rendered assistance to Rapaea after the crash and called emergency services," the coroner said. A forensic pathologist believed Rapaea would have needed "rescue breathing", rather than regular CPR, and this would have required McKinnon to be a trained first-aider or paramedic. Police conducted an inquiry at the time into who was driving the car, even featuring the case on Police Ten 7 seeking more information. However, charges were never laid. The coroner suggested police did not consider there was sufficient evidence to "successfully identify the driver and succeed with a criminal prosecution". The coroner further explained that while a criminal prosecution requires facts to be proved "beyond reasonable doubt", a coroner needs only to be satisfied of the facts "on the balance of probabilities", or "more likely than not". CCTV footage showed Rapaea at the Dannevirke Caltex shortly before midnight on 9 March, 2016. McKinnon and Tareha started their night in Wellington, having travelled from Hawke's Bay to purchase the Ford Fairmont. It's still unknown when or where Rapaea got into the Ford. While Tareha was arranging the change of ownership in Wellington, McKinnon had left in the newly purchased Ford, leaving the Caldina behind for Tareha. Part of the evidence referred to by the coroner included a pie wrapper, Powerade bottle, and cellphone which were all found in the crashed Ford, and all of which were linked to McKinnon. McKinnon accepted he'd taken the Ford to a petrol station in Wellington where he'd bought a pie and Powerade, but said after that he'd been travelling in the Caldina. He had no explanation for what happened to the Ford after that. The coroner found neither Tareha nor McKinnon had been truthful in their statements that denied McKinnon had driven the car up to Hawke's Bay. At 3.22am, police received the first call from a witness who'd come upon the crash. When the first car arrived on the scene, the driver saw another car stopped in the northbound lane with lights on full beam. The coroner was satisfied that car was the Caldina and as the driver of the other car didn't see anyone walking around, it meant at this point McKinnon was either still inside the Ford, or already in the Caldina. A truck arriving on the scene then saw the Caldina driving away at speed. The police accessed text messages sent to and from Tareha's phone later in the morning of the crash. An unknown number had sent a message saying, "Bro as you read dis rng me 'important' bout car". Tareha's phone was later used to send a message to a senior Black Power member: "Yo lose wheel on car flipped it". Coroner Hesketh found Rapaea's death was accidental, but preventable. The crash analysis supported a finding that driver fatigue was likely to be the major contributing factor. He accepted while it was perhaps unlikely that McKinnon or Tareha would have had the skills to give the necessary assistance to Rapaea, neither man tried, nor did they call an ambulance. There was no way to know if an earlier call would have led to paramedics getting there sooner, and in time to save Rapaea. The coroner issued warnings about driving while fatigued, including avoiding driving during hours of sleep, getting a good night's sleep before driving, and sharing the driving. If a driver starts to feel sleepy, they're advised to stop driving and pull off the road to take a short nap in the passenger seat. A police spokesperson told NZME the case remained open. "Police has taken the investigation as far as we can at the moment, however there is currently insufficient evidence to file a charge in court. "If further information is forthcoming, police will assess it and, if required, reassess any next steps." * This story originally appeared in the New Zealand Herald .
