Post by Kiwi Frontline on Jun 7, 2019 17:08:13 GMT 12
MAORI BUSINESS PROFITS CONTINUE STRONG GROWTH - STATS NZ
The surplus was achieved on an annual income of $3.4 billion, almost unchanged on 2016. Mâori authority businesses are businesses that manage Mâori assets held in communal ownerships. They range from larger farming, forestry, and fisheries companies to small land trusts.
"The role of Mâori business and Mâori economic development is an important driver of New Zealand’s economy, with strong connections to the land and sea," national accounts senior manager Gary Dunnet said.
Mâori authority businesses paid salaries and wages of about $470 million in 2017, down slightly on 2016, but up 36 percent on 2012.
Mâori authority businesses’ assets grew 6 percent in 2017 to $20.1 billion. From 2012, assets have risen by almost $6 billion, a gain of about 40 percent.
Mâori authority businesses own an increasing share of their growing assets, an indication of greater financial strength. Shareholders’ funds or owners’ equity was $14 billion in 2017, up from $9.6 billion in 2012.
Mâori authority businesses are key contributors to the Mâori economy, but these figures exclude other types of Mâori businesses, such as many small and medium-sized enterprises and self-employed Mâori. This is because they are harder to reliably identify......