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It's also likely to keep growing faster than the rest of the Aotearoa New Zealand economy.

That鈥檚 the assessment of Associate Professor, a respected expert from the Department of Management and International Business at Waipapa Taumata Rau, University of 色花堂, director of  and the .

 M膩ori business success today is remarkable for two main reasons, says Wolfgramm, who is of Te Aup艒uri, Ngai Takoto, Whakat艒hea, Tongan and Irish descent. 

One reason is the decimation of the Indigenous economy because of colonisation and the subsequent marginalisation of and systemic racism against M膩ori.

鈥淭he time, effort and energy required to build back what once was this country鈥檚 thriving pre-European economy is a story of astonishing resilience,鈥� says Wolfgramm. 

鈥淥ur t奴puna would be proud of what we are achieving in the face of such adversity.鈥�

The other reason is that M膩ori businesses and organisations tend not to be solely focused on making money. Increasingly, more holistic, long-term views are being recognised as a strength in business, particularly in the context of sustainability issues, says Wolfgramm.

鈥淢膩ori organisations place high value on collective aspirations, including culturally rewarding activities such as enhancing skills in te reo M膩ori and M膩ori cultural practices, lifting the socioeconomic status of all M膩ori, and putting kaitiakitanga at the forefront.鈥�

According to Te Ara, the government-sponsored online encyclopedia of New Zealand, M膩ori quickly developed commercial relations with tauiwi when they arrived.

鈥淏y the 1850s there were M膩ori commercial enterprises, often with their own boats for transporting produce to urban markets. They were less successful from the 1860s,鈥� notes Te Ara.

鈥淭he colonial government, as agents of the British Crown, came up with spurious reasons to send in cavalry to forcibly take lands and resources away from M膩ori hap奴 and iwi 鈥� situations in which our t奴puna suffered majorly and which we are still trying to recover from,鈥� says Wolfgramm.

Wolfgramm was involved in preparing a Waitangi Tribunal claim, Wai 1920 鈥� Rourou: Reclaiming the M膩ori Economy 鈥� in fact, she鈥檚 the lead claimant. The claim, which was initially spearheaded by a group including the late Associate Professor Manuka Henare, will enable comprehensive research into 鈥渆verything M膩ori lost through colonisation in terms of land and resources,鈥� says Wolfgramm.

Despite the damage wrought by colonisation and the lack of equitable settlements, the M膩ori economy is doing well, says Wolfgramm.

The M膩ori economy consists of businesses and entities that self-define as M膩ori because M膩ori are leaders in the organisation. It doesn鈥檛 necessarily mean the businesses are run exclusively by M膩ori or that they鈥檙e aimed just at M膩ori customers. There are M膩ori businesses in every sector of the economy, from agriculture to leading-edge technology, including significant M膩ori entities in the global economy.

M膩ori businesses tend to enact values such as kaitiakikanga, whanaungatanga and manaakitanga, meaning they emphasise proactive guardianship of land and resources, the building of lasting relationships, and caring for families and communities.

This is particularly true of iwi-run businesses, which are accountable to the whole tribe. Iwi organisations are some of the biggest in Aotearoa, controlling significant land and assets 鈥� , mostly in the primary sector, says Wolfgramm.

One of the reasons for Wolfgramm鈥檚 optimism for the M膩ori economy is demographics. In 2018, , compared to only 37 percent of the non-M膩ori population.

Treaty settlements are helping to revitalise the M膩ori economy, and M膩ori iwi, hap奴, marae and businesses are working hard to ensure benefits are shared, says Wolfgramm.

鈥淲e have some highly successful iwi that are multi-billion-dollar corporations with diversified portfolios in areas that have been growing.鈥�

Another reason for Wolfgramm鈥檚 optimism is the rising interest in the M膩ori economy and M膩ori ways of doing business 鈥� particularly related to sustainable and social enterprise.

For example, P艒tiki Poi, the world鈥檚 largest poi manufacturer, uses recycled materials and has a 16-year-old CEO, Georgia Latu. It has won multiple awards.

Designing products and processes in a circular way can align with m膩tauranga M膩ori, says Wolfgramm.That knowledge and kaupapa, based on centuries of observing nature and its systems, could be of great value to businesses in a range of sectors today.

M膩ori are still held back in business in some ways, says Wolfgramm. The main one is access to capital. Though there are M膩ori who invest in M膩ori businesses, this is an area she鈥檇 like to see grow. 

鈥淲e should have a M膩ori Dragons鈥� Den 鈥� or Taniwha鈥檚 Den,鈥� she says. 鈥淭here are many exemplars in Aotearoa New Zealand and internationally of how much angel investment can help new ventures.鈥�

A comprehensive mentoring programme pairing promising M膩ori entrepreneurs with established ones would also help, says Wolfgramm. There are already M膩ori business networks connecting people but mentoring and advice could be more formalised and international connectivity improved, she adds.

Wolfgramm would like to see rangatahi M膩ori learn more about entrepreneurship and encouraged to start their own ventures.