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Source: ONE News -
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Established Kiwi businesses are being given a helping hand to grow.
BNZ has joined with New Zealand Trade and Enterprise (NZTE) to launch a new $1.5 million business growth fund.
Owner/managers of small-medium enterprises (SMEs) can apply for funding which will subsidise them into incubator The Icehouse's successful business programme.
The BNZ has put up $750,000 in funding, while NZTE will contribute through awarding vouchers.
BNZ Partners Director Anthony Healy told TVNZ the bank has had a 10-year relationship with The Icehouse and trusts the results.
"We've seen the growth of the clients - over 500 that we've put through the programme - we've seen their revenues jump on average from 50 to 100%," he said.
The Icehouse programme is a 17-day course run over five months that founder Andy Hamilton says helps established businesses learn to grow their businesses.
The programme uses experts in marketing and finance and also entrepreneurs who tell their success stories and has already helped over 600 businesses.
"It's a really tight group of 25 participants who are all learning together which is really fundamental," Hamilton told AMP Business.
He says the incubator has had a wide range of people use it from importers and exporters to farmers and professional services including entrepreneur of the year winner Tim Alpe from Jucy Rentals.
Hamilton expects the BNZ funding and NZTE support will allow a lot more businesses to go through the programme although they still need to be willing to invest in themselves as the cost is around $10,000 after the subsidies.
SMEs can apply for funding from the BNZ and business owners can get more information from the Icehouse website and NZTE's regional partners.
