If you own a business in the Hawkes Bay, and are thinking of selling, knowing about business trends can help you decide when it’s the right time to sell. If your business is in a hot industry that’s seeing amazing growth, it’s much easier to find a buyer. In Hawke’s Bay and the Central Plateau, government investment in technology and innovation makes businesses in that area a hot commodity. The regions’ strong tourism growth, great infrastructure and agricultural roots influence other trends.
Tourism
Countries with outstanding natural beauty like New Zealand continue to have large tourism growth, and Hawke’s Bay and the Central Plateau are not bucking that trend. In 2020 Hawke’s Bay recorded the largest increase in visitor spending in August, rising 10 percent to $45 million dollars.
Hawke’s Bay Tourism businesses concentrate on tourism in a number of key areas, including weddings, art, wine and cycling. They also plan events that bring people to the area throughout the year, which may be part of the reason tourism has grown by almost 30 percent in winter and spring over the three years to 2018.
In the Central Plateau, Maori tourism is being widely promoted. Tourism expenditure in the Taupo District is up over 6 percent as visitors enjoy the unique experiences offered in the region.
If your business provides exceptional experiences to tourists, you can tout these figures in your marketing. Likewise, if you are helping tourism operators grow and do business more efficiently, you’re likely to find a buyer when you’re ready to sell.
Food and Beverage Businesses
In Hawke’s Bay especially, agriculture is the traditional industry. Cherries and apples have been the largest exports, but a growing wine industry has begun to diversify produce in the region. In the Central Plateau, dairy is the largest primary product.
Primary producers may find willing business buyers who are interested in running a farm or vineyard. Organic produce is particularly hot right now, so if you’re already organic-certified, you may be able to ask a premium price.
Hawke’s Bay is also close to both infrastructure and producers and has become a hub for food processing. Tomoana Food Hub is specifically zoned for food processing and is looking to become a food innovation hub. High-quality processed goods made from Hawke’s Bay’s amazing fruits and vegetables are attractive to customers, and will also be attractive to business investors.
Exporting and Importing
If you’re in the import or export business, you already understand the infrastructure that is present in Hawke’s Bay. Napier Port is the second-largest exporting port in the North Island, and the government has spent money on railways, roads and waterways to ensure there is an efficient supply chain that can continue to grow.
The port is largely used for exporting agricultural produce, which means there’s capability to bring more products into New Zealand. Businesses that are bringing in goods with a customer base in the country can point to the strong supply chain as a benefit of buying an import business based in Hawke’s Bay. Remember, the infrastructure works both ways, and it’s easy to transport goods from Hawke’s Bay to Auckland and other areas throughout New Zealand.
Technology and Innovation
With Rocket Lab taking up residence in Hawke’s Bay, innovation and technology have become some of the hottest trends in the region. The council has spent money on fibre optics and high-speed communication networks, so businesses can collaborate and make deals with other enterprises throughout the world without ever having to leave the city.
The Central Plateau is also encouraging innovation. If your business is technology-driven and has an innovative product or service, grants are available to help realise the potential. Even if you want to sell, the possibility of one of these grants may make your business more attractive to potential buyers.
If you’re ready to sell your business, emphasising any connections it has to these hot industries can help you quickly find a buyer and get top price.
For those who are considering buying a business, Hawkes Bay and Central Plateau is a great area to consider. Our business brokers can help you find a business in the right industry and provide you with all the tools and information you need to make the transaction easy. Contact LINK Hawkes Bay & Gisborne for more information.
