Maori’s assets in primary sectors
Maori constitutes a long history in international trade. Recently, the Maori economy includes a range of authorities, businesses and organizations which identify them as Maori. Maori owns a significant proportion of assets in the primary sectors which include 55% of the fishing share, 35% of forestry, 25% in lamb production, 35% in sheep and beef production, 10% in dairy production and 10% in production of kiwifruits (Scheyvens et al., 2017). Products generated from these sectors typically encounter the highest tariffs in Maori exports. The report will evaluate Maori economy and opportunity it offers for entrepreneurs to engage with them.
Reports of Douglas (2015) have revealed that Maori enterprises have been making their performance on the economy growing steadily every year. There have been more than 200 newly developed Maori businesses since 2013. The Ministry of Business, Innovation and Employment figures accounted Maori enterprises worth to be approximately $45 billion and growing faster than the economy as a whole.
The majority of M?ori assets rely on the agriculture, forestry and fishing industry. Reports have revealed that in the fishing industry, M?ori investment contributes around 45% per cent (Rankine et al., 2014). Maori employers while significantly flying under the radar have combined assets estimated to be around $23.5 billion. Million who have been self-employed have a combined a asset base of $ 7.0 billion possessions and the remaining $ 13.8 billion has been owned by Maori trusts, incorporations along with other collectively owned enterprises such as tribal organizations managing treaty settlements funds. Reports of Frederick, O’Connor and Kuratko (2018) have revealed constitutes 15% of the current New Zealand labour force. But NZ has estimated that Maori labour force will amplify to constitute one-fifth of Nez Zealand’s working age population by 2038. Crown Maori relation and Maori development have been assigned on operating funds of $58 million in the budget.
Maori entrepreneurs reflecting a strong sense of cultural uniqueness along with responsibility over the land and sea have been driving the market in Maori business. Reports of business now account for an economic asset support of more than NZ $ 43 billion (Douglas & Grant, 2014). Reports of Kana and Tamatea (2016), small and business enterprises constitute significant division of the Maori economy. These entrepreneurs have dependent on a trade approach with early roots a Maori‘s perceptions as well as executing trade and its competence to align to shared tradition as lineage of Papat??nuku, mother earth. Nonetheless, settlements comprised of only around 1% of NZ S36.9 billion Maori economic base in 2010. It has been estimated that 15,800 or M?ori SMEs also known as small and medium-sized enterprises, overseeing approximately NZ$26.8 billion in possessions constitute the substantial proportion of the M?ori economy (Mika & O’Sullivan, 2014). Kana and Tamatea (2016) have noted that investment bankers, investors and merchants have been invited to M?ori enterprises as prospective partners who have high interest in studying the way Maori entrepreneurs have been aiming to modify their contributions and methods within the Maori economy. Meanwhile, Mika and O’Sullivan (2014) have noted that the Maori economy reveals an increasing tolerance for threats with more start-up enterprises with several debt-free and with large holdings of liquid possessions which can be redistributed. Although Iwi business has been continuing to deliver strong yearly net revenue growth with substantial returns, governors of iwi assets have been facing an elevated multifaceted business environment and diverse expectations of beneficiaries. These factors have led to a necessity to increase returns and allocations which have been driven by Maoris’ interest to experience resourceful outcomes of their tribe’s treaty settlement.
Maori-owned businesses growing faster than the economy
The M?ori contribution to the economy primarily comprises of all individuals, households, businesses and cooperatives which self-
identify as M?ori. This includes M?ori entrepreneurs active in individually owned businesses, as well as the contribution of M?ori employees’ earned incomes (Frederick, O’Connor & Kuratko, 2018). M?ori exporters benefit from Free Trade Agreements (FTAs) that remove high tariffs from primary sectors exports. For example, exports of frozen fish roe to Korea have significantly increased from $ 3.5 million in 2015 to $ 9.5 million in 2017 subsequent to reductions to the 10% tariff through a FTA with Korea (Nandu-Templeton et al., 2017). Thus Maori exporters will gain from tariff reductions agreed in the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP).
Intellectual property- Trade agreements have included provisions primarily at protecting and recuperating the treatment of traditional knowledge along with cultural expressions such as in the CPTPP.
Augmented connectivity to the increasing Asia-Pacific region- The participation of New Zealand in export markets (particularly to Asia) is projected to grow significantly in the short-to-medium term. With regard to the Pacific, the potential benefits for M?ori from the Pacific Agreement on Closer Economic Relations (PACER) Plus agreement which have included additional unlocking of indigenous innovation and enterprise (Mika & O’Sullivan, 2014).
Strategies for M?ori interests within trade agreements- Foreign Trade Investments primarily constitute Treaty of Waitangi exception clause which has amalgamated with other provisions, offers strategies to protect the government’s competence to adopt policies that attain its obligations to M?ori under the Treaty of Waitangi regardless of any obligations of offering equivalent treatment to Maoris’ trading partners (Henry & Wolfgramm, 2018).
An extensive range of Government and business-to-business support tools are accessible to Maori entrepreneurship. Authors have noted that gains from the Maori economy have been viewed holistically with financial capitals being only one part of generalized welfare (Rankine et al., 2014). However, in order to hold up this approach, Treasury has developed its Living Standards Framework, which has been purposed to incorporate a M?ori perspective besides Statistics NZ has launched Te Kupenga 2018, an assessment that plans to provide an improved representation of the social, cultural and economic welfare of M?ori.
The overall capital base of M?ori enterprises has been significant. However, considering the exemption of the number of billion dollar fashion such as Ng?i Tahu, Waikato-Tainui along with Ng?ti Wh?tua ?r?kei for example, the resources have been extensively been allocated across hundreds of Iwi as well as land trusts and incorporations. Dana (2015) has stated that Maori business with powerful asset base have initiated its collaboration to explore domestic and international business opportunities. For example, Tohu wines, a joint venture between Maori Trusts has created substantial international interest. The Maori entrepreneurs have been attaining such a success with indigenous branding strategy based on Maori identity and cultural descriptions (Scheyvens et al., 2017).
In addition to this, the Te Rau Aroha Omaio development plan is another example that is recognized as a community owned and operated enterprise which primarily will manage the guiding ethics of sustainable economic, ecological, social as well as cultural improvement through the organized relocation of around 150 hectares of low-value maize growing into a sustainable enterprise related to influential supreme food markets of the world (Nandu-Templeton et al., 2017).
Conclusion
Therefore, from the above discussion it can be concluded that the Tikanga M?ori around relationship building as well as cultural identity can resonate with other cultures and direct to significant business opportunities. Furthermore, it has been noted that successful M?ori-led trade delegations have encouraged such opportunities to the profit of M?ori and New Zealand in more extensive manner. The Maori business is efficiently positioned in terms of its capital resources, exclusive story in addition to innovation capabilities in order to develop and cultivate international businesses from Aotearoa.
References
Dana, L. P. (2015). Indigenous entrepreneurship: an emerging field of research. International Journal of Business and Globalisation, 14(2), 158-169.
Douglas, H. (2015). Embracing hybridity: A review of social entrepreneurship and enterprise in Australia and New Zealand. Third Sector Review, 21(1), 5.
Douglas, H., & Grant, S. (2014). Social Entrepreneurship and Enterprise. Tilde Publishing and Distribution, Prahran, Victoria.[Google Scholar].
Frederick, H., O’Connor, A., & Kuratko, D. F. (2018). Entrepreneurship. Cengage AU.
Henry, E., & Wolfgramm, R. (2018). Relational leadership–An indigenous M?ori perspective. Leadership, 14(2), 203-219.
Kana, F., & Tamatea, K. (2016). Sharing, Listening, Learning and Developing Understandings of Kaupapa M?ori Research by Engaging With Two M?ori Communities in education. Waikato Journal of Education, 12(1).
Mika, J. P., & O’Sullivan, J. G. (2014). A M?ori approach to management: Contrasting traditional and modern M?ori management practices in Aotearoa New Zealand. Journal of Management & Organization, 20(5), 648-670.
Nandu-Templeton, J., Vanderklei, M., de Vries, H., Love, T., & Hamilton, R. (2017). Interpreting the narratives of Ma?ori entrepreneurs. MAI Journal, 6(2), 164-179.
Rankine, J., Barnes, A. M., McCreanor, T., Nairn, R., McManus, A. L., Abel, S., … & Gregory, A. (2014). Content and source analysis of newspaper items about Maori issues: Silencing the’natives’ in Aotearoa?. Pacific Journalism Review, 20(1), 213.
Scheyvens, R., Banks, G., Meo-Sewabu, L., & Decena, T. (2017). Indigenous entrepreneurship on customary land in the Pacific: Measuring sustainability. Journal of Management & Organization, 23(6), 774-785.
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