In a year of economic uncertainty and mounting pressures, Pacific business owners in New Zealand are taking matters into their own hands. At the Pacific Business Round Table, held at The Pacific Business Hub, these entrepreneurs united to address the challenges head-on and craft solutions from their own lived experiences.
Themed "Real Talanoa, Real Solutions," the event highlighted a fundamental truth: no one understands the challenges of a business better than those who run it. From managing cash flow pressures to dealing with market volatility, Pacific business owners face the realities of keeping their operations afloat every day. When landlords, tax obligations, supplier payments, and staff wages all converge at once, it’s entrepreneurs who bear the burden of finding the funds and securing projects to keep their businesses running—ensuring their teams remain employed and the business cycle continues.
“The solutions to our challenges must come from us,” said Fuimaono Martin Anae, Founder and CEO of Bluwave Galumoana Ltd. “We are the ones who bear the costs when things go wrong. This year, we’ve seen many businesses shut down, projects cut off, and a glaring lack of representation and opportunities. While we are grateful for the smaller projects we receive, they are no longer enough to sustain our businesses in today’s economic climate.
Consequently, many are closing their doors and relocating to Australia, seeking better prospects. In 2023, New Zealand experienced a net migration loss of 27,000 people to Australia, a significant increase from the previous year's loss of 14,600."
Facing Economic Realities: Pacific Businesses Unite for Action
The numbers are sobering: more than 10,000 businesses were removed from New Zealand’s Companies Register in the second quarter of 2024. For Pacific businesses, the challenges are even more pronounced. Voices from the recent Pacific Business Round Table revealed a community disproportionately vulnerable—struggling with limited projects and funding, operating with fewer resources, and navigating the complexities of cultural and familial obligations.
“While we share cultural ties across the Moana, the challenges we face and the opportunities we seek are as diverse as the islands we represent,” said Fuimaono. “The usual 'one-size-fits-all' solutions simply don’t work for us. We need strategies that reflect our realities and our strengths.”
The event was not just about airing concerns but about taking tangible steps toward meaningful action. Salā Laura Keil, Founder and CEO of The Pacific Business Hub, emphasised the importance of collective solutions: “This wasn’t just about identifying problems—it was about taking action. This event shows the power of talanoa—open, honest dialogue—to foster genuine and meaningful collaboration that moves us forward together.”
Among the key actions discussed was the need to establish a forum or group that could represent the values and voices of New Zealand Pacific businesses. Such a group would act as an advocate, amplifying their concerns and championing their successes, while ensuring that Pacific businesses are included in policy discussions and funding opportunities.
Economic Pressures and Shared Experiences
The round table provided a platform for participants to voice their lived experiences, underscoring the economic pressures affecting Pacific businesses. Felila Asiata-Feausi, General Manager of Oyonnx, spoke candidly about the slowdown in consumer spending, which has forced many businesses to lower their service prices just to stay competitive. She urged those present to leverage each other’s strengths and build a supportive ecosystem to navigate these tough times.
The meeting also highlighted how cultural expectations can place additional strain on Pacific businesses. Losalio Milika Pusiaki and her partner Viliami, owners of Feʻunukoula - Academy of Tongan Arts, Dance & Culture online podcasts, shared how the misconception that owning a business equates to wealth often leads to expectations of discounts or financial contributions. These pressures, while rooted in cultural and familial ties, can undermine business sustainability.
A Commitment to Collaboration and Representation
The round table concluded with several actionable steps to support Pacific businesses, including:
Establishing a forum or group to advocate for Pacific businesses, amplifying their voices in policy and funding discussions.
Organising regular networking events to foster collaboration and resource sharing.
Developing tailored workshops to address key challenges such as financial literacy, marketing, and operational efficiency.
“There is talent and potential here,” said Fuimaono. “Together, we can create solutions that sustain Pacific businesses and contribute to New Zealand’s economic growth.”
Comments