In 2018, New Zealand was ranked among the Best Countries for Business list in Forbes Magazine, adding to its appeal to those who would love to do business here. As Zegal shares, there are many other attractions for entrepreneurs in the country, with one of them being a number of grants available to support the country’s business owner. New Zealand’s Ministry of Business warns that you should never pay fees for someone to find grants for you. Those who require this are usually running a scam. Information on the grants and other help offered for New Zealanders is readily available to anyone. In our next 2 articles, we will look at a few of the grants offered to Kiwi business owners and learn what you need to do to qualify.
The Getting Started Grant
For those who are in the early stages of business research and development, the government agency known as Callaghan Innovation offers a Getting Started Grant to help you make your idea for a product or service into a reality. This research and development grant takes you all the way to commercialism. According to its website, it will:
- Help you launch your research and development activities in order to create a competitive edge.
- Guide you through the roadblocks of research and development. This includes help for troubleshooting, project planning, basic prototyping, determining the specifications and user requirements of your product, developing a strategy for Intellectual Property, project planning, and technical feasibility studies.
- Show you how to access help from technical experts who can give you guidance on how to take your idea to the next step.
In order to apply for this grant, you must have your business registered under the Companies Act, the Limited Partnerships Act, and either be a “Māori incorporation or trust established under the The Ture Whenua Māori Act, a trust set up to manage assets as part of a Treaty of Waitangi settlement, a Māori statutory body, or a business controlled by one or more of these entities.” Your business should also meet any due diligence and financial requirements that are needed to qualify for this grant. If granted, your business would receive up to $5000, or 40% of the research and development costs that are eligible. This funding is only available for research and development that is done in New Zealand. A one-off payment is received when the project has been completed.
Any Kiwi business owner who wishes to apply for this grant can contact their local business advisor. Callaghan also adds that this grant is delivered through their Regional Business Partner and can be applied for at any time. They encourage entrepreneurs to call them and they can connect you to the right people to get you started. In our next article, we will take a look at the Project Grant and the Growth Grant, both of which are designed to help Kiwi entrepreneurs continue to build their business.
There are many other grants available to those living in New Zealand who wish to start a business or have already established one. We will look at a few more of them in next week’s article. Receiving grants can help save you a lot of money in the process of building your business. Of course, you can also save a great deal by choosing to maintain a dedicated office space to draw in more clientele. Shared office spaces such as those offered by Offix gives those who are looking for office space to rent in Wellington an affordable option that still has all of the advantages of a traditional office.