Ma-ori business booms

Māori authorities’ assets grew in 2014, up 15.5 percent ($2 billion) from 2013 to reach $15 billion, Statistics New Zealand says. This was the second strong year of asset growth – in 2013 the increase was 13.7 percent ($1.6 billion).

Tatauranga Umanga Māori 2016: Statistics on Māori businesses provides an insight into the economic strength of 1,050 Māori authorities. It is the most extensive survey of Māori business in New Zealand.

Tatauranga Umanga Māori senior manager Jason Attewell says the role of Māori business and Māori economic development is an important driver of New Zealand’s economy.

“While maintaining their strong base in land and primary assets, Māori authorities are making solid investment choices for future growth.”

The main contributor to Māori authorities’ asset growth was other assets such as goodwill, trademarks, shares in associated and subsidiary companies, and long-term bonds and loans.

David Taipari, Independent Māori Statutory Board chairman, said that Māori business is clearly on the rise and this is good news for everyone.

“In line with the board’s advocacy strategy to expand Māori business beyond the primary sector, we are experiencing an increase in Māori owned businesses in the infrastructure and IT sectors that make up Auckland’s unique Māori economy. With Auckland being the largest Māori city in the world, we expect to see this trend continue,” he says.