Wednesday 30th of November 2022
New Zealand is one of the most scenic countries in the world. Besides being the ultimate tourist
...destination, it enjoys the status of being the eas...
New Zealand is one of the most scenic countries in the world. Besides being the ultimate tourist destination, it enjoys the status of being the easiest place to start a business. The highly developed country is a haven for entrepreneurs looking for business opportunities because of its economic stability, high business freedom and prosperity. It has become the epicentre for tech start-ups in recent years, and its economy has expanded more than expected this year.
The GDP of New Zealand increased by 3.2% in June 2023, with the business services sector showcasing significant growth. The rate of salaries and wages in the country rose by 4.3%, and the real gross national disposable income rose by 0.8%. Naturally, most entrepreneurs plan to become a part of the business sector to grab a significant market share and earn profits. So, here are the top ten fastest-growing businesses in New Zealand that can help entrepreneurs succeed. It is best to invest in these industries to enjoy high growth and sustainability.
Agribusiness is the most high-performing sector in the country. Aspiring entrepreneurs looking for a profitable business for sale in New Zealand can buy these entities to grow quickly. The industry is predicted to clock revenue of $119.9 billion in 2023-24.
The most prominent niche in the sector is dairy, followed by meat and livestock and then fruits and vegetables. The production volumes have been rising along with the prices, which have helped in revenue generation for entrepreneurs in the field. It will continue to dominate the economy in the next few years.
New Zealand is known for its premium quality food exported to more than 120 countries. The abundant landscape of the country produces a variety of products, including dairy items, meat, seafood, fruits and vegetables. The food and beverage industry is highly diversified and has considerable support in the form of investment.
The industry is recognised globally for offering high-quality products and materials. The cafe and restaurant niche of the industry showcased a market size of $7.1 billion in 2022. With high disposable income, households are willing to spend on dining out, boosting the industry's growth. The pandemic has been unable to create an obstacle in its growth trajectory. To find businesses for sale in New Zealand in this category, click below.
https://www.business2sell.co.nz/businesses/food-beverage-hospitality
Electricity generation in the country primarily depends on renewable energy, which is highly commendable from a sustainability point of view. New Zealand is placed at the second position in the world for offering energy security because of abundant natural resources and investment opportunities in the sector.
The government also provides unconditional support to the industry because of its eco-friendly nature. The plan is to start using 100% renewable energy by 2035, which makes it a promising industry for entrepreneurs and investors.
Auckland has become a hub for the technology sector, with several tech-based businesses operating here. The digital technologies sector contributes significantly to the country’s GDP and has grown 10.4% since 2016. It is one of the fastest-growing industries, with innovation at its forefront and a world-class infrastructure as its support system.
The rising population of highly skilled professionals in the city have helped in the growth of the sector. One of its game design businesses, Legend Story Studios, recorded revenue growth of 6416% in the past 3 years. The tech industry is growing in computing, AI, gaming, software, IT services, telecommunications and much more.
Several budding entrepreneurs looking for a business for sale in New Zealand opt for the international education category. The industry is thriving, with many international students coming to the country every year. In 2022, over 25,000 international students were enrolled in various universities nationwide.
The sector contributes a staggering $5.1 billion to the economy. With new plans to offer high-quality education and living experiences to students, the growth rate of this industry is expected to rise.
Aotearoa New Zealand’s advanced manufacturing sector is undergoing a transformation to become a highly profitable domain. The industry is experiencing the use of sustainable measures to grow with the help of innovation and technology.
It is expected that the transformation plan that was implemented in 2023 will help to create high-paying jobs, improve productivity and reduce emissions. The government is investing $30 million in this transformation, which has made it a fast-growing industry.
Blessed with one of the most breathtaking locales, it is no surprise that New Zealand’s top industries include tourism. A top-favourite destination among nature lovers, the country is known for its stunning views, warm hospitality and finest travel experiences. The sector contributed $16.2 billion to the national GDP in 2019. The country will welcome 4.9 million tourists this year, which showcases the high growth of the sector.
Thus, passionate individuals looking for a business for sale in New Zealand can opt for established entities in this sector. The government is also promoting the industry by creating an excellent infrastructure for transportation and stunning attractions. Here is a link that will take you to the latest listings in this category.
https://www.business2sell.co.nz/businesses/accommodation-tourism
Forestry and wood processing are one of the biggest industries in New Zealand. The vast landmass filled with greenery is apt for the progress of this sector. It is the biggest exporter of logs in the world, and the annual revenue through exports was $5.6 billion in 2020-21.
The country harvests 32.9 million cubic meters of wood, which ensures the sector’s growth. The industry has been performing excessively well because of the high demand for its products and the versatility of fibre produced in the country. Also, the sector takes sustainability into consideration with the planting of renewable and fast-growing trees.
Food processing and packaging is a fast-growing sector because of the high number of exports in the industry and increasing local demand. They are among the biggest contributors to the economy and provide employment to a large population involved in logistics, manufacturing, and processing of dairy, meat, seafood, fruits and vegetables.
Some of the biggest brands operating in the sector include Sanford Limited, T&G Global Limited, AFFCO Food Processing Company, Heinz Wattie's and Fonterra Co-operative Group Limited.
The transport industry has been growing by leaps and bounds. It has helped to propel the advancement of supply chain and distribution facilities for small businesses. The adoption of the latest technology and innovation has further created avenues for building excellent transportation businesses.
Entrepreneurs looking for business opportunities in New Zealand can also invest in space sector ventures and private firms that are working towards reduced emissions by 2050. To find listings of such entities, click below.
https://www.business2sell.co.nz/businesses/transport-distribution-storage
Wrapping Up
New Zealand is a powerful and developed economy moving fast towards betterment. Its industries are poised to grow with technological changes and create a roadmap of success for others to follow. The sectors mentioned above are the industries that will keep shining in the future.
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