Exploring the Economic Challenges and Growth Potential of Māori Businesses: Insights from BNZ’s Inaugural Survey

The Bank of New Zealand (BNZ) has released the results of its first Māori Business Sentiment Survey, shedding light on the economic challenges and growth potential of Māori enterprises. The survey, which collected 125 responses from individuals involved in Māori businesses, revealed that economic conditions were the most significant challenge, with 71% of respondents citing it as their primary concern.

Furthermore, nearly half of the respondents reported a decline in business conditions over the past year, while only 15% noted improvements. BNZ’s chief economist, Mike Jones, contextualized these findings within the broader economic landscape, noting that the confidence levels among survey respondents are on the weaker side of broader confidence indicators.

Despite these challenges, the survey also highlighted the resilience and optimism within the Māori business community. While only 15% saw improvements in business conditions over the past year, 26% anticipated better conditions in the next 12 months. Additionally, over a third of respondents planned to increase investment in the coming year, revealing confidence in future growth potential.

BNZ Māori business head, Whetu Rangi, emphasized the importance of the survey in bridging the knowledge gap surrounding Māori businesses. By launching this survey and committing to conducting it regularly, BNZ aims to foster ongoing collaboration and knowledge sharing within the Māori economy. The survey is expected to become a valuable tool in promoting better understanding of the sector and facilitating the flow of capital within the Māori economy.