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Māori businesses upbeat, leading the way and making profits
28 July 2015
Māori businesses upbeat, leading the way and making profits
With a strong asset base, a growing talent pool and high levels of optimism, Māori businesses are shifting their focus to profit and prosperity, New Zealand’s most in-depth business survey has found.
Te Tirohanga Whānui - The Māori Business Key Insights Report – compiled from the findings of ANZ’s annual Privately Owned Business Barometer, showed Māori businesses had significantly higher levels of optimism and stronger profit growth than non-Māori businesses.
“Increased opportunities and a sense that Māori are in charge of their own future are some of the factors driving excitement in the Māori business community,” said Graham Turley, ANZ’s Managing Director Commercial & Agri.
“Māori businesses lead the way on so many fronts – they are building sustainable businesses, adopting new technologies, have a fast-emerging pool of talent, strong networks and a collaborative approach to business that’s so important in a small market like New Zealand.
“This year’s Barometer shows a change in perspective, from an often-adversarial period of asset consolidation, to working together with other businesses – Māori and non-Māori – to realise opportunities and grow profits.”
Key findings of the ANZ Barometer Māori Business Key Insights Report
Of Māori business respondents:
72% are
optimistic about prospects for the next three years (51% for
non-Māori businesses)
54% recorded an increase in profit
over the past 12 months (46% for non-Māori
businesses)
16% recorded a profit increase of more than
25% over the previous 12 months
72% expect profit to
increase over the next 12 months
27% are operating
internationally; 14% aim to be in the next 2 years
53%
identified succession as an issue – the figure is even
higher for iwi and hapū-owned entities and Māori trusts
and incorporations (72%)
35% said a lack of skilled staff
was having an impact on their business – compared to 25%
of total
respondents
ends
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