Business development funding in Budget

By KEVIN TAYLOR

More money for business development is coming in the Budget on May 23.

Economic Development Minister Jim Anderton yesterday announced that $2 million would be spent on a new network of regional case managers to help businesses with high growth potential.

He also announced one-off funding of $320,000 to fund two non-profit organisations which help businesses.

He said an economic innovation package in the Budget contained the money for the case managers.

Industry New Zealand would now be able to "roll their sleeves up" and work even more closely with innovative small and medium enterprises with high growth potential.

Mr Anderton said the money for the non-profit business help organisations would go to Business in the Community and Company Rebuilders. It had been reallocated from other business assistance programmes.

Money for both initiatives comes from the $331 million set aside by the Government for industry and regional development over a 4-year period from 2000.