- Article
- Growing my Business
- Expanding internationally
Why established corridors still win for New Zealand corporates growing globally
New Zealand businesses are known for punching above their weight when it comes to scaling internationally and global market uncertainty hasn’t diminished this momentum.
As supply chains reconfigure and capital becomes more selective, HSBC’s proprietary Corridor Data1 reveals that New Zealand corporates are doubling down on expansion into established markets like the US, the UK, Australia, China and Hong Kong while evaluating new markets as opportunities emerge.
These established corridors offer scale, developed capital markets, mature regulatory systems and strong consumer demand. That combination continues to make them compelling and commercially attractive for New Zealand corporates across sectors, allowing them to scale internationally with confidence.
New Zealand corporates have always had to think internationally, but what we’re seeing now is a more deliberate approach to scaling offshore. There is a clear premium attached to those trusted New Zealand businesses that diversify markets and build robust global partnerships,
|
“HSBC has been supporting businesses navigate uncertainty, contextualise market cycles and maximise on growth opportunities for over 160 years. Throughout this time, combined with our local presence in over 50 markets, we’ve been able to support businesses scale internationally at pace,” adds Felton.
Scaling internationally into established corridors: the Windcave success story
Technology is one sector where this international momentum has been visibly increasing. Now New Zealand’s third-largest export, the technology sector continues to scale rapidly across global markets2 .
One example of a New Zealand founded technology business that has scaled successfully into established corridors is Windcave, a global platform that delivers seamless payment technology to some of the world’s biggest companies.
After capturing a substantial share of the domestic market, Windcave aimed for expansion into Australia, the UK, Europe, and the US due to client demand. Its biggest challenge was navigating an industry with fractured payment processing across markets and multi-jurisdictional regulatory approvals.
Justin Drake, Windcave’s Chief Financial Officer, said the company’s growth trajectory increased significantly when they expanded beyond New Zealand, but it didn’t come without challenges.
Each market presents significant opportunities for us, but also local nuances to navigate. Working with HSBC gives us the benefit of their local insight in each market, combined with a global perspective that purely domestic banks cannot replicate,
“For example, HSBC’s brand and understanding of European regulation helped when seeking regulatory approvals for our merchant acquiring businesses where we process payments on behalf of retailers.”
Drake also points to HSBC’s global transaction banking capabilities as an integral aspect to Windcave’s successful international expansion.
“HSBC supports our confidence to operate internationally,” Drake adds.
Emerging corridor opportunities: the next phase of expansion
After scaling successfully into established corridors, Windcave is now turning to markets like those in ASEAN to capture the next wave of growth opportunities where consumer demand is accelerating, regulatory environments are evolving fast, and policy tailwinds are strengthening.
This growth journey is the case for many New Zealand corporates – scale first into established corridors, then look for the growth opportunities in emerging corridors like ASEAN and India.
This momentum is being reinforced by the New Zealand–India Free Trade Agreement and updates to the New Zealand–Singapore Closer Economic Partnership, opening doors to regional markets that simply weren’t available a few years ago.
“The expanded Free Trade Agreements are timely, with the increasing regionalisation of trade and investment as one of the clearest shifts in the current landscape. Globalisation remains strong, but its structure is evolving, with greater emphasis on regional networks,” Felton remarks.
Outlined in a recent HSBC survey, 9 in 10 businesses expect cross-border activity to become more regional over the next five years.
When looking to newer markets of opportunity, the same playbook that’s worked in mature markets is proving just as powerful - clear strategy, disciplined execution and strong in-market partners. Corporates that move early can lock in a lasting competitive edge.
“The key to success will be to keep scaling through proven corridors where demand and certainty are strongest and start building a foothold in ASEAN and India now. The winners will be the ones that diversify early and invest in on-the-ground expertise to scale with confidence,” Felton summarised.
1 ^HSBC’s proprietary Corridor Data draws on cross-border trade, capital and treasury flows across more than 50 markets from January 2022 through December 2025 (including projections). The dataset reflects outbound activity observed across HSBC New Zealand’s corporate client base, highlighting where businesses are expanding internationally and together with macroeconomic signals, identifies emerging trends and opportunities for corporates to take note of.
2 2025 TIN Report Press Release | TIN – Technology Investment Network
The information contained on this website is provided for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any products referenced. Eligibility criteria and T&Cs apply for the products referenced. Local country restrictions and limits may apply. Please speak with your HSBC representative for more information.
This document is issued by The Hongkong and Shanghai Banking Corporation Limited, incorporated in Hong Kong SAR, acting through its New Zealand branch (“HSBC”) and is intended for reference and illustrative purposes only. It does not constitute an offer or advice for you to purchase from or otherwise enter into a transaction with HSBC or any of its subsidiaries or affiliates. The information contained in this document may include information from third parties who HSBC believe to be reliable, but such information will not have been independently verified by HSBC. All information contained in this document (including without limitation, information about products, terms and conditions, pricing, forecasts, market influences and HSBC policy) is subject to change from time to time without any obligation on HSBC to give notice of such change to you. Whilst HSBC will try to ensure that the information in this document is current, accurate and complete at the date of publication, it cannot guarantee this and therefore it makes no representation (express or implied) about the currency, accuracy or completeness of that information. HSBC cannot accept liability for any direct, indirect or consequential losses arising from the use of or the reliance on the information contained in this document by any person and such liability is excluded to the maximum extent permitted by law. You are responsible for making your own evaluation about the products referred to in this document. HSBC recommends that before you make any decision or take any action that might affect you or your business, you consult with suitably qualified professional advisers to obtain the appropriate financial, legal, accounting, tax or other advice.
© Copyright The Hongkong and Shanghai Banking Corporation Limited 2026. All rights reserved. No part of this document may be reproduced, stored, distributed or transmitted in any form without the prior written permission of HSBC.
