Tauranga Plasterers owner Stuart Phelp. Photo / George Novak
Half a million dollars worth of business advisory funding is still up for grabs to help Bay of Plenty businesses survive and rebuild after the economic gut-punch that was Covid-19.
A total of 780 businesses have registered for the second round of the Covid-19 Business Advisory Fund, which was rolled out last year, but there was still $500,000 in funding available.
Business owners that have been impacted by Covid-19 can apply for financial support to gain access to professional service providers, who will help them overcome the challenges they face through expert advice and guidance.
This funding is delivered through the Regional Business Partner Network, a national programme that is facilitated throughout the Bay of Plenty by Tauranga Chamber of Commerce in conjunction with Rotorua and Eastern Bay chambers and Poutama Trust.
Since August, about $2 million has been allocated to a variety of expert providers who are delivering the support to local businesses impacted by Covid-19.
In the first round of funding, more than 600 Tauranga businesses and 100-plus Rotorua businesses applied for the funding and about $1m was allocated.
Tauranga Chamber of Commerce chief executive Matt Cowley said the funding gave businesses access to short-term advisory support, enabling them to deal with the impacts of Covid-19.
"We have seen business owners who have never needed to ask for help before reach out for business advice. You can see the weight lifted off their shoulders."
However, he said there had been a slowdown in businesses applying for the funding.
"This is mostly because many people have already received support and have got the help they needed to navigate through the impacts of Covid-19.
"That's key and what the support was designed for – they got help and have now moved on. Some have even grown.
"It's also the time of year, where things have got busy again as we come to the end of the year, and people are focused on doing the doing again."
Cowley said many owner/operators did not have a board or executive team of experts who they can discuss key challenges with.
He encouraged businesses to reach out to ensure they are prepared "for whatever 2021 throws at us".
Rotorua Chamber of Commerce chief executive Bryce Heard said the Covid support package has been an important part of demonstrating to businesses they've not been forgotten.
"Government and the chambers are there to support them at a particularly difficult time," he said.
"The three BOP Chambers have worked closely together to deliver these outcomes and it has certainly had a positive impact for businesses, both those who needed the advice and those who provided the advisory services."
Businesses apply to the chambers through the RBPN portal to receive help.
The chambers then discuss with the businesses what their needs are, what aspects of their business they need help with and connect them with the right people.
The funding then goes directly to the expert provider to pay for their services.
Managing director of Tauranga Plasterers' Stuart Phelp sought help through the second round of the Covid-19 Business Advisory Fund.
The family-owned interior plastering specialists of more than 50 years has morphed from offering high-quality fibrous plaster to include plasterboard fixers, stoppers and painters.
"It's all very physical work," he said. "The fact we're at unprecedented levels of work, they [our staff] are tiring."
So Phelp decided to pay for physio treatment, doctor's bills and for counselling to help his staff's mental and physical wellbeing.
"We're in an industry where it's the suck it up attitude. But ultimately their bodies are their tools," he said.
"We sell labour. I am a broker of labour. If I don't have that effective and working I have nothing."
But Phelp also wanted to encourage his team to communicate and he needed the tools to be able to do that.
"We need them to have the skills to be able to communicate their frustrations and anxiety."
That's why he went to Roz Irwin at the Tauranga Chamber of Commerce for help.
"Knowing there is a network there to help is so important."
The funding helped the business pay for a provider to develop a high-performance team coaching programme designed to help leaders get the best from their teams.
"Wellbeing is becoming more and more of a topic. We just need that mental shift."
Portico Rotorua for Picture Framing and PhotoArt co-owner John Miles said the funding helped he and business partner Susan Jory keep their heads above water post lockdown.
Miles said he and Jory bought the business on Pukuatua St about three years ago and spent the first few years focused on their new company.
"We knew there was growth potential for the business," he said.
Miles said the pair contacted Rotorua Business Chamber before Covid-19 to get help with training, so they could develop a plan to grow the business through the capability development funding.
"It was to really help us get our heads above water and to build a growth plan."
The pair worked with a Rotorua company to develop a financial plan.
"Then Covid came along."
When business started to drop, Miles said they needed to focus on how they were going to recover from the time spent not trading.
"So we went back to the drawing board and came up with a detailed cash flow plan. We had to survive.
"It really helped us look at the important things. Cashflow was key ... We felt confident we could get through to January and still be on our pathway to growth."
Miles said the business was also able to recruit two new training staff. They also applied for the recent funding round as part of the Covid-19 Business Advisory Fund, which he said has helped them with marketing.
"Without this we would have just muddled through and who knows what would have happened," he said.
"It helped us to look at our businesses and what we needed to do to survive and thrive."
Businesses must:
- Have undergone an assessment with a Regional Business Partner Growth Advisor
- Have fewer than 100 fulltime equivalent employees, and
- Be GST registered in New Zealand, and
- Have a New Zealand Business Number, and
- Be operating in a commercial environment; and
- Be a privately-owned business or are a Māori Trust or incorporation under the Te Ture Whenua Māori Act 1993 or similar organisation managing Māori assets under multiple ownership.
What is the funding used for?
- HR & Employee Relations and Legal
- Financial and Cashflow Management
- Health and Wellness (ie. mental health and wellbeing support)
- Business Continuity Planning
- Marketing Strategy
- Digital Enablement Strategy.
Source: Regional Business Partner Network
Jefferies and family will enjoy a leg of lamb with summer sides.