Inclusive growth - A foundation for shared prosperity in New Zealand and beyond

In the evolving narrative of economic development, there's a growing recognition that prosperity needs to be inclusive to be sustainable. This is a sentiment echoed in the findings of the Inclusive Growth Commission, which embarked on a mission to identify how local economies across the UK can benefit a broader section of society. Their work brings to the forefront an essential truth: addressing deep-rooted inequalities is not just a moral imperative but critical for fostering long-term economic resilience and community well-being.

The Commission's recommendations, focusing on place-based industrial strategies, enhancing the relationship between government layers, and reshaping public investment with inclusivity at its core, highlight the importance of aligning economic policies with social objectives. This holistic approach ensures that the fruits of economic growth are not just accumulated but shared across the spectrum of society.

This inclusive growth perspective is critically relevant for New Zealand, a nation that prides itself on fairness yet faces its own challenges of socioeconomic disparities. It's here that the First Foundation steps in, mirroring the Commission's ethos on a micro scale. Through mentorship, professional networking, support and financial assisatnce, First Foundation not only democratises access to education but also exemplifies the principle that economic growth should benefit everyone.

The resonance of inclusive growth extends beyond social sectors into the business world, aligning with the ethos of New Zealand companies partnered with the First Foundation. These businesses recognise that inclusivity is not merely a moral choice but a strategic one. Larry Fink, CEO of BlackRock, succinctly captures this sentiment, stating,

"To prosper over time, every company must not only deliver financial performance but also show how it makes a positive contribution to society."

This perspective underscores the understanding that a company's community encompasses its customers, employees, and shareholders. Reflecting the diversity of these communities not only strengthens a company's social license to operate but also bolsters its business performance and aligns with a broader commitment to societal welfare.

We take pride in collaborating with companies that, through their actions, embody the principles of inclusive growth. These partnerships affirm a collective commitment to forging opportunities for all community members, acknowledging the intertwined fate of business success and community prosperity.

The insights from the Inclusive Growth Commission, coupled with the initiatives of the First Foundation and its business partners, underscore a universal truth applicable to New Zealand and beyond. Embracing inclusive growth principles paves the way for building economies that are robust, dynamic, equitable, and, most importantly, inclusive. Through concerted efforts, we are not just enhancing individual lives but also molding the societal fabric to reflect values of inclusivity and shared prosperity, ensuring a brighter future for all.

This journey towards an inclusive future, as championed by the Commission and mirrored in the work of First Foundation and its partners, is a testament to the power of collective action. It's a journey where every step taken towards inclusivity not only changes individual destinies but also shapes a society where economic growth benefits everyone, echoing Fink's vision of businesses thriving by contributing positively to society.