October 01, 2018
Māori business poses challenges for advisors
Business support services are being told they need to take a different approach when dealing with Māori.
A study of Maori business culture by Jason Mika from Massey University's Te Au Rangahau Māori business and leadership centre and Pushpa Wood from the university’s financial education centre found Māori entrepreneurs aren't using financial support services as much as they could, especially at the early stage of their business.
In part that's because the services don't understand Māori have their own way of doing business.
"They all recognise cashflow, profitability and productivity are key components of running a successful business but what differs for Māori entrepreneurs is why they are in business and it's really around whānau well being. They believe entrepreneurship provides them with a way to contribute towards that," Dr Mika says.
He says many younger Māori entrepreneurs go into business without a coherent business plan or backup, and are forced to learn some hard lessons.
Copyright © 2018, UMA Broadcasting Ltd: www.waateanews.com