$40 Million To Support NZ Businesses A Welcome Relief

Minister for Economic Development Phil Twyford and Minister for Small Business Stuart announced a further $40 million will be invested in the Regional Business Partner programme (RBP) today.

This is a welcome relief for businesses trying to plot a path back to a thriving business after the COVID-19 pandemic says the EMA Chief Executive Brett O’Riley.

"Financial support via the wage subsidy and small loan scheme helped businesses stay afloat, but what is going to get them back to profitability long term is good advice and mentoring around changing the way they operate," said Brett.

The RBP offers eligible businesses help with HR, health and wellbeing, business continuity, cashflow and finance management, strategy and digital capability. In the announcement today a further $10 million of funding for tourism businesses will also be channeled through the RBP.

"One of the sectors that was hit as far back as January by COVID-19 was tourism. They were feeling the effects of dwindling tourist numbers, the China tourist ban and accommodation, hospitality, tourism, and tourism related retail were all on the decline.

"Six months later and with border closures still in place they are in desperate need of the type of support the RBP offers." Brett said.

The fund is open to registered New Zealand businesses with fewer than 100 full time equivalent employees and provides access to up to $5000 of expert advice and support.

The RBP is a partnership between NZTE and Callaghan Innovation.

Businesses looking to register should call the Business Helpline on 0800 500 362 in the North Island or 0800 505 096 in the South Island.

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