Business Boost funding will be available quarterly, with applications for the first round of funding opening on March 29. Photo / Bevan Conley
Business Boost funding will be available quarterly, with applications for the first round of funding opening on March 29. Photo / Bevan Conley
Economic development agency Whanganui & Partners has launched a new funding pool to assist start-ups and businesses with growth plans.
Applicants for Business Boost will be assessed against set criteria, with two businesses to receive $2500 in support towards their unique needs, and $1250 of mentoring or business coaching.
Business Boost funding will be available quarterly, with applications for the first funding round opening on March 29.
The funding is one stream of Whanganui & Partners' Business Start-up and Growth Programme that is designed to help local people begin, grow and rethink their businesses.
Creating a programme to help businesses grow and adapt was investing in Whanganui's future, business strategic lead Tim Easton said.
"We have all these great ideas and ambitions forming locally, and a lot of motivated and inspired people ready to take action.
"Our job is to clear the path for them and help them navigate the challenges ahead. We know from our work with successful entrepreneurs that asking for help and seeking advice is a strength. We wanted to make that task straightforward by creating a programme for businesses to engage and re-engage with.
"Based on feedback from locals who have successfully started a business over the past few years, we've put together a programme to give our next batch of business owners a head start."
Strategic Lead for Business at Whanganui & Partners Tim Easton. Photo / Paul Brooks
In addition to the Business Boost funding for targeted financial support for those ready to grow, a 'start-ups' stream is tailored to help people interested in creating a new business.
Eight start-up information sessions will run during the year, with the first on April 28.
The one-hour sessions will give insight from a successful local business owner, identify each attendee's learning style and start-up profile, and outline the support structures available for starting out.
A third programme on offer provides regular sessions for local entrepreneurs to develop their ideas. Eight entrepreneur meet-ups will provide updates on local projects, introduce newcomers to the entrepreneurial space, and allow input to a start-up calendar and programmes. The meet-ups will begin on May 5.
The final stream of the programme relates to the Innovate Whanganui competition.
Applications for the Dragons' Den-style competition open on April 11. Successful applicants will take part in a 'first pitch' night, which will result in the top five entrants being chosen.
They will then enter a 10-week accelerator programme, beginning in June, which includes seed funding and mentorship.
The top five will pitch to judges on finals night in August, when the overall winner will receive $10,000 towards their business venture.
Amplifying the success and growth of local businesses took many steps, Easton said.
"It can be an intimidating process, but no one should feel overwhelmed. If you have a great idea, you can come to us for the help you need to make it a great success."
To apply for the Business Boost grant and for more information on the Business Start-up & Growth Programme, go to discoverwhanganui.co.nz/businessboost
