The Productivity Commission has published an issues paper for its inquiry into lifting the performance of New Zealand’s “frontier firms”.
The commission says in a media release that these are New Zealand’s most productive firms, and that they play a crucial role in the performance of the whole economy.
“New Zealand is facing the prospect of a very significant economic shock from the impacts of Covid-19”, says Murray Sherwin, chair of the commission. “Helping Kiwi firms to become significantly more productive will play an important role in restoring the economy to full health and supporting long-term gains in social and economic wellbeing”.
The commission says that New Zealand’s productivity has long lagged other developed economies. Low productivity is the main reason why New Zealand’s household incomes are, on average, lower than in other, similar countries.
“This inquiry seeks to understand the challenges faced by Kiwi firms who are striving to be world class, and how these can be overcome.
“The commission is particularly interested in learning how the potential of Māori frontier firms can be maximised, and how the lessons from successful Māori businesses could be shared more widely,” the statement says.
“The issues paper is a critical part of our inquiry process. It lays out what we’ve been asked to do and how we’re thinking about the issues. It is an important opportunity for the public to help us develop practical recommendations for change.”
“We encourage anybody with an interest to read through the issues paper, think about the questions and participate by making a submission or getting in touch. We are particularly keen to hear from Kiwi firms about the barriers and opportunities they face to improving their productivity,” it says.
A call for submissions brochure provides a summary of key inquiry details, why and how to submit. Submissions are welcomed by September 1, 2020, or earlier, to give the commission time to consider the ideas and information it receives and incorporate them in its analysis.
