‘Fighters’ bring $28b potential to Maori firms
A ‘‘moderate increase’’ in the percentage of Maori businessowners would inject $28 billion into the Maori economy over the next 16 years and create 165,000 jobs, KPMGhas found.
As part of the report, 130 iwi governors, executives from iwi organisations, and successful Maori entrepreneurs, took part in 13 round table discussions or oneon-ones with executives from KPMG and ASB.
Co-author Kirikaiahi Mahutariki, said the name of the report, ‘‘Maui Rau’’ was a nod to Maui’s many faces.
‘‘[Maui] adapted to challenges and that’s pretty much been a part of Maori DNA throughout history.’’
Mahutariki, the executive manager of Maori financial solutions at ASB Bank, is of Te Arawa, Mataatua, Tahitian, and Tongareva (Cook Islands) descent.
‘‘As Maori we have a history of being fighters... our ancestors found themselves in a position where they had to fight for their land, fight for their resources and lives and ultimately had to fight for their way of life,’’ she said.
Around 60 iwi have settled with the Crown since 1990. A TDB advisory report estimated the total funds under management from settlements were worth around $6b.
Mahutariki said Maori needed to take their passion for fighting injustices and rights, and shift it to business ambitions.
The report said Maori often bore the brunt of change in instances like layoffs at the freezing works and railways in the 1980s, because they were dependent on others to make money.
Co-author and director of performance consulting at KPMG, Riria ‘‘Missy’’ Te Kanawa, said Maori tech businesses should participate in established incubators and accelerators and mold them into family accelerators as well.
Business coach Karl Waretini has worked with with many whanau enterprises in the South Island over the past decade. He said it’s a growing business space.
Waretini said Maori have got on the wrong side of statistics when it comes to health, and many of the successful whanau businesses he’s worked with had started social enterprises aiming to help the health of their whanau rather than being driven by the bottom line profit.
‘‘They’re really creating quite a movement in that space which is quite exciting and inspiring.’’