Eastern Bay businesses owners have highlighted concerns around capital investment and infrastructure at a meeting with MPs this week.

East Coast MP Dana Kirkpatrick and Otaki MP Tim Costley, both members of foreign affairs, defence and trade select committee, attended the roundtable discussion on Monday, organised by Toi EDA.

It attracted representatives from the agriculture, food and beverage, science and technology industries, who shared some of the factors holding them back in business.

Tensions were high from the offset as Mayor Victor Luca, representing the sciences industries, started the discussion by saying the lack of reliable energy sources was causing significant issues for production in the region.

“I think we’ve dropped the ball in this country,” he said.

Ms Kirkpatrick agreed this was an issue in New Zealand that had “really come to a head in the past week or two”.

Ngāti Awa Group Holdings chief executive Tyrone Newson suggested taking a collective approach to infrastructure.

“A collective approach to regulated infrastructure would be quite useful,” he said. “When you can provide that level of certainty, you can bring in more investment.”

Haydn Read, from Te Whanau ā Apanui, said all businesses needed more capital.

“We don’t have enough capital in this country. We don’t have a long-term intergenerational view. It’s not working out; it hasn’t been working for 20 years, we’ve got to do something different,” he said.

Noble & Sunday Tea Merchants founder Alan Hughes said a lack of capital was interfering with businesses exporting to international markets, despite having good public standing.

“I’ve travelled a lot, and it’s plain to see New Zealand on a world stage is incredibly unique; everyone knows where our country is and we only have five million people,” he said.

Torere Macadamias founder and general manager Vanessa Hayes said both these issues compounded each other on macadamia orchards.

“Our supply of power in Torere is on and off,” she said. “We have the possibility of burning the shells of our macadamias for our own power – a renewable resource which can now be utilised – but we need the investors,” she said.

Wai Manuka founder Joe Harawira shared the difficulties in obtaining funding and financial support – naming one option which offered a 50/50 co-fund which required start-ups to provide 100 percent funding up front – a feat unmanageable for most small businesses.

Te Moana a Toi Truffles’ Maua Warren said despite these struggles, every business was “all geared up”.

“We’re doing it. We might be struggling, but we’re doing it. We want to get on that international stage,” she said.

Manuka Performance’s Tristin Vine said lack of capital was the sole factor holding businesses back.

“We have a fantastic story, great product, great people. We just need capital.”

Dr Read and Rikirangi Gage said consents had historically been an issue for agriculture industries.

Mr Costley said it was important the select committee looked at what it could do to help set the conditions to increase capital.

“The economic horse is towing everything else. It is fundamental we get the economy sorted first,” he said.

“Inflation is hurting us and hurting your businesses, and it takes time. There are signals we need to give so people are willing to invest in your companies.

“It’s a bit of us taking our medicine at the moment. As you can see, this is not just affecting your businesses, but your lives and communities.”

Ms Kirkpatrick said she acknowledged the shape the country was in, was holding businesses back.

“It’s a tough gig at the moment for everybody, but we need to ride it out. We have a good plan, and I think we’ll make some good progress in the next 12 to 18 months,” she said.

“The great businesses in our area are ready and rearing to go. We need to get our country in the right place for them to be successful, ensuring access to capital and a regulated environment, and we need to act quickly.”

Earlier in the day, Mr Costley visited Extreme Boats.

“They are such a local success story, making multi-million-dollar boats,” he said. “We heard from them that their exports keep them going.

“It’s been a tough last few years with inflation and the cost-of-living crisis. We need to get people’s confidence back in the economy. Businesses need investment and we need to make interest rates affordable, and this is fundamentally what our Government is delivering,” he said.