Complete Review Of Start Up Business Grants in New Zealand

Starting a business requires money to invest in specific outcomes, such product development, buying inventory, launching the business and becoming investment ready. Grants might be an option worth considering, to help you get the capital you need to propel your idea into existence.

The primary source of grant funding for start up and small business' in New Zealand comes from the government. This funding is administered through a number of public organisations, including Work and Income, Ministry of Business, Innovation and Employment, Callaghan Innovation and Local Council. There are also a handful of private funds that give grants to for-profit organisations that are driven by a social purpose.

Work and Income New Zealand offers three grant options to people who are on a main benefit or are eligible and have applied for the benefit, and are in the early stages of starting a business.  This includes the Self-Employment Startup Payment, the Flexi-Wage for Self-Employment, and The Business Training and Advice Grant.

The majority of the general funding and grants to start a business in NZ are administered through the Regional Business Partner (RBP) Network. This includes capability vouchers, and an R&D Grant, which is the Callaghan Innovation Getting Started Grant (details below) administered through the RBP network.

Callaghan Innovation exists to support high-tech business development. The grants available exist to encourage R&D for innovative new products. This includes the Getting Started Grant, Project Grants and  Student Grants.

Te Puni Kōkiri (TPK) supports Māori business growth by facilitating connections, growth assessment and planning, and support services. Business grants are issued under Te Pūnaha Hiringa: Māori Innovation Fund. The primary grant for business development is The He Tupu Ōhanga: Commercial Advisors Scheme (CAS).

If the business has a strong social purpose, beyond just making a financial return, there are organisations that provide grants to consider. This includes the Akina Investment Readiness Grant, Hoku Foundation, AMP National Scholarships and others.

This review by Mum’s Garage provides an overview of the grants that exist and how to apply. For the full review, including specific details on eligibility visit NZ Start Up and Small Business Grants.

Mum’s Garage teaches ambitious people how to turn business ideas into companies that make money and a positive impact. They do this by breaking down the process of starting a purpose-driven business into simple actionable steps. For more information checkout the Mum’s Garage website.