Help is at hand

Help is at hand

Navigating the SME support networks.

Help is at hand

    Intro

    <p>Government support for SME businesses is typically aimed at growing skills and establishing networks to help them thrive, rather than handing out free money. But these are extraordinary times and specific financial assistance has been developed by the Government to help get SME businesses through the Covid-19 crisis.</p> <p>But good advice is also crucial in a crisis and the more information you have about your business and your future plans, the more help you’ll be able to access. Make sure you’ve spent some time on your business plan and your finances before you approach any advisors, mentors or funding officers.</p> <p><a href="https://www.asb.co.nz/business-banking/guidance/writing-a-business-plan.html" target="_self">Create a business plan</a></p> <p><a href="https://www.tools.business.govt.nz/cashflow-forecaster" target="_blank">Create a cashflow forecast</a></p>

    Financial support

    <h3>Wage subsidy scheme extension</h3> <p>Many businesses have used the wage subsidy scheme to keep paying staff through lockdown.</p> <p>To be eligible for the extension, an employer must have experienced a revenue loss of at least 50% for the 30 days before applying, compared to the closest period last year. There are different calculations for organisations where this is not possible, such as new businesses or pre-revenue firms.</p> <p>For more information and to check eligibility see:&nbsp;<a href="https://workandincome.govt.nz/covid-19/wage-subsidy-extension/index.html" target="_blank">https://workandincome.govt.nz/covid-19/wage-subsidy-extension/index.html</a></p> <h3>Small business cashflow loan scheme</h3> <p>Loans to support the immediate cashflow needs of small and medium businesses impacted by Covid-19 are available. Eligible businesses and organisations are entitled to a one-off loan of up to $100,000, which is interest-free for the first year. The scheme is open to companies with 50 or fewer full-time employee equivalents. This includes sole traders and self-employed businesses.</p> <p>For more information and to apply see:&nbsp;<a href="https://www.business.govt.nz/covid-19/cash-flow-loans-and-support/" target="_blank">https://www.business.govt.nz/covid-19/cash-flow-loans-and-support/</a></p> <h3>Business debt hibernation</h3> <p>If the small business cashflow loans don’t suit, business debt hibernation helps companies affected by Covid-19 manage their existing debts until they can start trading normally again.</p> <p>For more information and to check eligibility see:&nbsp;<a href="https://www.business.govt.nz/covid-19/business-debt-hibernation/" target="_blank">https://www.business.govt.nz/covid-19/business-debt-hibernation/</a></p> <h3>Grants</h3> <p>Callaghan Innovation offers a range of grants that aim to promote research and development (R&amp;D), &quot;whether you're a young start-up, an established R&amp;D performer, or want to bring students on board to assist in your R&amp;D activities&quot;. A 15% tax credit on money invested in eligible R&amp;D is also now available.</p> <p>For information of grants see:&nbsp;<a href="https://www.callaghaninnovation.govt.nz/grants" target="_blank">https://www.callaghaninnovation.govt.nz/grants</a><br> <br> For information on the R&amp;D tax incentive see:&nbsp;<a href="https://www.callaghaninnovation.govt.nz/grants/rd-tax-incentive" target="_blank">https://www.callaghaninnovation.govt.nz/grants/rd-tax-incentive</a></p> <h3>Just starting up?</h3> <p>Te Puni Kōkiri’s Māori Business Growth Support help Māori business owners and entrepreneurs. It can offer co-funding to work with advisors who can help identify opportunities and support new ventures.</p> <p>For information about Māori Business Growth Support:&nbsp;<a href="https://www.tpk.govt.nz/en/whakamahia/maori-business-growth-support" target="_blank">https://www.tpk.govt.nz/en/whakamahia/maori-business-growth-support</a></p>

    Gaining knowledge

    <h3>The Regional Business Partner (RBP) Network</h3> <p>RBP, a partnership between NZTE and Callaghan Innovation, acts as a gateway to a wealth of advice, knowledge and funding opportunities for SME businesses.</p> <p>Growth Advisors in 14 regions are available to assess your business and help you connect with the right resources and experts so you can build capability and grow.</p> <p>For more information and to register see:&nbsp;<a href="https://www.regionalbusinesspartners.co.nz/" target="_blank">www.regionalbusinesspartners.co.nz</a></p> <h3>Kiwi Business Boost</h3> <p>If you’re looking for advice, the Kiwi Business Boost website offers a range of online events (and, in normal times, actual events) tailored to specific business challenges and sectors. Whether it’s a deep-dive into Covid-19-related health &amp; safety issues or a guide to cyber-security, there is a wealth of material available to help you learn.</p> <p>For more information, see:&nbsp;<a href="https://www.tools.business.govt.nz/boost/events" target="_blank">https://www.tools.business.govt.nz/boost/events</a></p> <h3>New Zealand Trade &amp; Enterprise</h3> <p>If you're an exporter, NZTE is also offering specific advice on managing Covid-19 impacts:</p> <ul> <li><p>Leading people &amp; wellbeing</p> </li> <li><p>Cash flow</p> </li> <li><p>International travel</p> </li> <li><p>Freight &amp; logistics</p> </li> <li><p>Managing risk</p> </li> <li><p>Insurance</p> </li> <li><p>Supply chain</p> </li> <li><p>Staying connected with markets</p> </li> </ul> <p>For more information, see:&nbsp;<a href="https://covid19.nzte.govt.nz/page/advice-to-exporters" target="_blank">https://covid19.nzte.govt.nz/page/advice-to-exporters</a></p> <h3>Business Mentors New Zealand</h3> <p>For a longer-term arrangement, Business Mentors New Zealand provides up to 12 months of confidential, one-on-one assistance for small business owners who are trading, want to grow, or need help to solve specific business challenges.</p> <p>For more information, prices and to register&nbsp;<a href="https://www.businessmentors.org.nz/" target="_blank">click here</a>.</p>