Our November 2023 Waikato Business Sentiment Survey results indicate generally strong performance and positive outlooks from Māori and Pasifika businesses in the region, with Pasifika businesses rating particularly strongly for revenue and profitability.
Key insights:
- Māori and Pasifika businesses in the region have confidence levels well above average with net confidence scores of +25 for Māori and +17 for Pasifika, compared to the regional average of +9.
- Cost of capital is a more significant growth barrier for Māori businesses, with 42% of Māori businesses citing this as a concern compared to the Waikato regional average of 33%.
- 50% of Pasifika businesses reported revenue growth for the past 12 months, well above the regional average of 36%.
- Pasifika businesses also reported particularly strong profit results, with 47% experiencing a profit increase in the past 12 months.
- Both Māori and Pasifika businesses have above average confidence levels for the future of the Waikato economy, with Māori businesses at +44 and Pasifika at +57, compared to the regional average of +33.
- Looking ahead to the next 12 months, 35% of Waikato businesses surveyed are expecting to increase their staff numbers, with Pasifika businesses most likely at 53%.
- Māori and Pasifika businesses both have above average growth expectations for the next 12 months, with 77% of Pasifika businesses expecting to grow and 64% of Māori businesses, compared to the regional average of 54%.
- Māori businesses are more likely to have a climate change policy/strategy in place, at 55% of Māori businesses compared to the regional average of 44%.
Read the full Māori Business Sentiment Survey Report here.
Read the full Pasifika Business Sentiment Survey Report here.