The realisation of the developmental aspirations of Indigenous communities requires a reframing of economy and economic representation. The “diverse economies” framework provides a platform from which to counter the dominant Western narrative surrounding notions of economy, and bring to the fore forms of enterprise and practices all too often “hidden” or viewed as alternative, and therefore deemed inferior. This paper explores the notion of economy and economic activity through the lens of diverse economies to best represent the complex and multidimensional nature of Māori small and medium-sized enterprises—pakihi Māori. We propose that the diverse economies framework will enable a deeper understanding of the Māori economy in its many distinctive forms and more accurately represent the rich diversity of Māori enterprise that has evolved therein. The current literature provides a platform for case study research currently being undertaken that aims to show the diversity that is missing within current economic representations of the Māori economy. The literature will form the basis for developing the theory and expand thinking in relation to notions of economy. By reframing the way in which the Māori economy is considered, our aim is to offer insight into the key drivers, characteristics and values that are foundational to the creation of resilient Māori organisations, modes of economy and strong communities, today and in the future.