‘Brave’ businesses good for NZ economy
Getting the mindset right is a great place to start for NZ companies looking to overseas markets.
Kiwi exporters “courageously” looking to new markets might make all the difference to New Zealand’s economic recovery.
This is the view of Lisa Thompson, general manager of customers for Te Taurapa Tūhono New Zealand Trade and Enterprise (NZTE). But while she loves the Kiwi can-do attitude of giving things a go, Thompson believes many Kiwi business owners busy dealing with urgent, everyday things often struggle to carve out the time to understand their vision and ambition for competing internationally.
“Businesses that take the time to imagine their longerterm future and establish some clarity around this can better navigate the opportunities that come their way as growth starts to accelerate,” she says.
“We frequently see Kiwi exporters courageously going into markets looking for new opportunities. This is where NZTE comes in: How do we help them be more successful with that bravery, how can we help them avoid some of the road bumps they might come across because they are trying to learn it all by themselves?”
NZTE is the government agency charged with helping New Zealand businesses to grow internationally. This year it has significantly increased its support for exporters to drive an export- led recovery from the impacts of Covid-19.
New Zealand exporters employ more than 200,000 people and about 75 per cent are small and medium enterprises with 50 or fewer employees. Thompson says making things easier for these kinds of businesses is key for NZTE.
“Over the many years we have been supporting New Zealand exporters, common themes turn up,” she says.
“The first is they often don’t have a clear understanding of who the customer is, or the end consumer; they make assumptions that what works here will work offshore.
“Taking the time to really understand your customer and market so you can effectively target them is critical because competition in overseas markets is fierce.”
A second challenge occurs when businesses don’t have access to, or simply cannot afford, the experienced talent they need in New Zealand or in their market. Many also struggle to get access to capital.
Nevertheless, Thompson believes our willingness to venture into new international markets might make all the difference to New Zealand’s economic recovery.
Thompson herself has walked the talk. She joined Icebreaker (the Kiwi outdoor clothing brand) aged 19 as a receptionist. By the time she left, 16 years later, she was general manager of the brand’s US business.
“From the outset [Icebreaker founder] Jeremy Moon’s vision was that it was going to be a global business. He knew where he wanted Icebreaker to go, even if we didn’t quite know how to get there. But when you’ve got the vision you can fill in the gaps along the way and pull in the people you need to support you.”
One New Zealand business that has benefitted from NZTE help is Christchurch- based Fairtrade chocolate brand Bennetto. Founder Lucy Bennetto says launching a business is exciting but also tough.
“I had a vision of where I wanted Bennetto to be. I wanted to bring organic, sustainably produced premium chocolate to the mainstream and to be recognized by an international audience starting with Asia, Australia and Europe,” she says. “But I didn’t know how to get there.
“NZTE provided me with information and resources that were tailored toward my business which helped me get a better understanding of how the export market works.”
She says attending NZTE- run workshops and webinars — and being put in touch with the right people at the right time — was valuable in increasing her knowledge and understanding of the markets she was looking to enter.
“NZTE has a wealth of experience, understanding and knowledge of how the markets work,” Bennetto says. “There’s a lot to know. Every market is so different and there’s no one-size
fits all. But if you’ve got the will to succeed, they (NZTE) can put you on the track you need to be on; they have the tools to help you get to where you want to go.”
Thompson says NZTE has experience and wants to give businesses a hand: “When we get to see an organisation start to achieve their vision, we just love that. That’s how we grow the economy, that’s how we grow New Zealand.”
Become an NZTE customer today and we’ll support you in growing your business. Go to www.nzte.govt.nz