Simon and Paula Herbert hosted friends on their yacht H at the America's Cup in Barcelona.
Paula Herbert, with husband Simon, founded Empire Capital which owns marinas, a dredging business and data centre operations. Here, she talks about involvement in NZX listed businesses, plans for 2025 and holidaying in the Bay of Islands.
How would you describe 2024 for your business?
The year has been one of our busiest and most rewarding yet. We’ve been fortunate enough to have been working on some exciting new projects, including investing in the NZX-listed WasteCo and preparing for the potential listing of our data centre. It’s been a year of growth and diversification, which has been both challenging and fulfilling.
What will be your biggest business challenges in 2025?
One of our main challenges in 2025 will be navigating where best to invest as New Zealand continues to recover from the effects of high interest rates. It’s been a tough time for so many businesses, and as we move forward, we’re hopeful for a return to a more balanced monetary environment. The quicker we can reach that “new normal”, the better it will be for everyone.
What opportunities do you see in 2025?
Simon and I feel optimistic about the opportunities ahead. While the recovery may take some time to gain momentum, we see potential in countercyclical investments. It’s a chance to support businesses that are poised for growth as conditions improve.
What will it take to kickstart New Zealand’s economy?
The Reserve Bank’s sharp increase in interest rates has curbed inflation, but it’s come at a heavy cost to the economy. Interest rates are beginning to ease, but it’s critical that interest rates get down to a new normal level quickly, without overshooting and causing another round of inflation. We believe swift and significant reductions in the OCR are needed to restore balance and support businesses and families struggling under the weight of the current policy. We think this is urgent.
How will a Trump presidency affect the geopolitical dynamics?
Tariffs from the United States could pose challenges for New Zealand exporters if they materialise. On a broader scale, if a Trump presidency succeeds in reducing global tensions and resolving conflicts in Europe, Asia, and the Middle East, it would be a positive step for the world and countless families. He says he can do it - time will tell!
What are the concrete actions your company has taken to reduce climate change?
We’ve made sustainability a priority across our properties and marinas, focusing on energy efficiency and renewable materials. A highlight has been our investment in WasteCo, New Zealand’s only NZX-listed waste management company. This investment aligns with our commitment to the green sector and its future growth. WasteCo’s vision to become a leading player in waste management is one we’re proud to support.
How are you increasing diversity in your business?
Diversity is at the heart of what we do. Building a strong, inclusive team has always been our focus. We believe in creating an environment where everyone feels valued and can do their best work.
What is your New Year’s resolution?
To keep pushing ourselves, exploring new opportunities, and making a positive impact through our work. We also want to strike a better balance between professional and personal goals. Continuing our work supporting charitable organisations is a big focus for 2025, and we’re committed to doing more in this space.
Where and how are you holidaying this summer?
We’ll be in the Bay of Islands this summer. It’s such a beautiful part of New Zealand and the perfect place to recharge with family and friends. Spending time there helps us reflect on the past year and look ahead with clarity and excitement.
What would you recommend as a good podcast to listen to over summer?
I’d love to recommend one, but I haven’t quite figured out how to find the time to listen to podcasts yet!
Anne Gibson has been the Herald’s property editor for 24 years, written books and covered property extensively here and overseas.