If you’ve started a new business or taken the path of self-employment, assistance is readily available. Grants and support for your new business, along with affordable business advice and mentoring provided by the government, will aid you in getting started.
It’s important to note that government help should not be misconstrued as free money. If your business is still in its early stages, most government assistance aims to foster your skills and knowledge, while also connecting you with advisors and networks.
There are plenty of free or affordable opportunities accessible if you’re in the initial stages of your business.
The more developed your business idea is, the greater assistance you can receive. Whether you’re self-employed, own, or manage a business, it’s wise to engage in some business planning before seeking guidance from advisors, mentors, or funding officers.
Tips on how to write a business plan
Grants and help for your established business
Tip
Be cautious of funding scams, where scammers deceive you into paying fees to uncover grants.
If a company asserts its ability to assist you in obtaining grants, conduct thorough research beforehand. Consider referring to the Commerce Commission for details on counterfeit grant-finding services.
Support for Māori business owners
Agency: Te Puni Kōkiri
Aimed at: Māori business owners and entrepreneurs
How to get it: Register online
The Māori Business Growth Supports aims to assist Māori business owners and entrepreneurs who are just getting started.
To qualify, the majority ownership of your business must identify as Māori. Additionally, you need to have a business plan in place and have attended the Introduction to Business workshop offered by Inland Revenue.
Once accepted, you will be matched with an account manager who will collaborate with you to identify your specific requirements. Account managers are available across various locations in New Zealand.
Māori Business Growth Support — Te Puni Kōkiri
Agency: Ministry of Business, Innovation and Employment
Aimed at: Māori collectives
How to get it: Apply in the annual call for proposals
The Māori Innovation Fund aims to enhance the skills and knowledge of Māori collectives and trusts.
Through the fund’s Commercial advisor scheme, collectives receive co-funding to collaborate with an advisor who can assist in recognising opportunities and provide support for new ventures.
Read the 2017 Commercial Advisors Scheme: approved commercial advisors [PDF]
Find more on Support for Māori business — MBIE website
Incubators and accelerators
Agency: Callaghan Innovation
Aimed at: High-growth or technology start-ups
How to get it: Register with your Regional Business Partner, who can link you with the closest incubator or accelerator.
Callaghan Innovation provides funding to incubators and accelerators throughout New Zealand.
Incubators are designed for individuals with promising ideas or rapidly growing new businesses. The objective is to support the development of those ideas and facilitate connections with individuals who can assist in bringing them to the market.
Accelerator programs target technology start-ups and focus on preparing them efficiently to approach potential investors.
Incubators and accelerators — Callaghan Innovation
Contact details — Regional Business Partner Network
Tip
Tech start-ups might also qualify for pre-incubation grants — reach out to your Regional Business Partner for more information.
Mentoring
Agency: Business Mentors New Zealand (BMNZ)
Aimed at: People with new business ideas or those seeking assistance in initiating a new business venture.
How to get it: Register online and pay a one-off registration fee
BMNZ mentors are skilled business individuals with knowledge of emerging enterprises. They understand the necessary stages to validate a business concept or launch a new enterprise.
Throughout a span of six months, volunteer mentors collaborate with individuals who have a nascent business or idea to:
- provide guidance
- evaluate ideas
- conduct a feasibility assessment
- assist in constructing a strong business plan.
Start-up mentoring programme — Business Mentors NZ
Grants and funding
There are limited government grants or funding schemes accessible to self-employed individuals and newly established businesses. If you meet the criteria, you may be required to contribute funds alongside the granted amount. Your Regional Business Partner will aid you in discovering suitable grants.
Below are two funding schemes tailored specifically for emerging enterprises.
Agency: Callaghan Innovation
Aimed at: Tech start-ups
How to get it: Register and speak to your Regional Business Partner
Pre-incubation loans are for technology owners and tech-based start-ups to nurture their ideas and transform their intellectual property into viable commercial ventures. Certain privately operated accelerator programs also offer assistance to start-ups in securing funding.
Pre-incubation loans — Callaghan Innovation
Contact details — Regional Business Partner Network
Agency: Work and Income
Aimed at: People receiving benefits who want to start a business or embark on self-employment
How to get it: Speak to a case manager at Work and Income to explore the process of applying.
The Flexi-wage programme offers guidance and some financial assistance.
Who can get it
You might be eligible for Flexi-wage assistance for self-employment if you’re:
- on a main benefit, eg:
- Jobseeker Support
- Sole Parent Support
- Supported Living Payment
- and seeking to do one of the following:
- establish a new business, or
- require support to attain self-sufficiency in an existing business.
Who can’t get it
You will not be eligible for Flexi-wage for self-employment if you’re:
- restarting a business that you have previously owned
- currently bankrupt.
If you’re eligible for Flexi-wage for Self Employment, you could receive assistance with initial expenses and other financial support during the early stages of setting up your own business.
You may also be eligible for a Business Training and Advice Grant, which can help cover the costs of training related to starting your business. This grant can also be used to cover expenses for engaging a business advisor.
Flexi-wage programme — Work and Income
Business training and advice grant — Work and Income
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