Like mainstream economies in almost every country, the Maori economy had paused during the global financial crisis.
However, the signs were there for a strong revival.
Mr Broughton is a Ngai Tahu Tourism director and has been actively involved in the Maori Business Network for many years.
Minister of Maori Affairs Pita Sharples and Economic Development Minister David Carter announced yesterday the establishment of an independent panel to report to the ministers with a strategy for Maori economic development and action plan by July next year.
The panel's job was to help raise the rate of return on Maori-owned assets and grow the Maori contribution to New Zealand's economy by providing a framework for Maori and the Government to work together better, the ministers said.
Mr Broughton said Te Puni Kokiri (Ministry of Maori Development) estimated the Maori economy was worth around $36 billion and that was creating interest throughout New Zealand.
He recently attended a hui for Maori chartered accountants.
There were 180 present and Mr Broughton was told there were 600 chartered accountants in New Zealand who identified with being Maori.
All the major banks had now appointed a Maori business relationship manager and some of the large accountancy firms were appointing Maori business advisers.
"When the four big banks and large accountancy firms are appointing Maori business relationship managers, you can rest assured they can see the opportunities for growth," he said.
Ngai Tahu Tourism recently expanded into the North Island with the purchase and expansion of Rainbow Springs. It had also bought the adjacent Agridome. Tainui had invested in a large retail complex in Hamilton and hotels.
In Dunedin, the Maori Business Network was working on tourism opportunities as demand increased for cultural tours.
Training in improved skills for Maori in business was continuing.
Ngai Tahu was a good model for Maori business, as it had spread the risk between its seafood, property and tourism activities, Mr Broughton said.
"When growth happens, Ngai Tahu will take off."
Mr Sharples said the Maori economic development panel would produce strategic recommendations on improving the infrastructure and overall collaboration of the Maori/iwi economy and on economic development in the context of the Treaty of Waitangi, New Zealand and the wider global economy.
Craigs Investment Partners broker Chris Timms said iwi were seen as natural holders of shares in state-owned asset energy companies if the Government proceeded with the partial sell-down after the election.
Energy assets, like Meridian, Mighty River Power and Genesis, were seen as long-term investments ideal for iwi wanting a strategic stake in those types of assets.
