In focus: Schemes and incentives for entrepreneurs in New Zealand
New Zealand is today, recognized as one of the most business-friendly countries in the world. This is largely due to reasons such as – the acceptance of international trade, lack of government and business corruption, free-market economic reforms and the country’s reputation for encouraging foreign investments.
New Zealand, ranked 4th globally in the 2022 Economic Index for its progress and support of the achievement of women entrepreneurs and business owners. So, all this makes New Zealand a popular destination for entrepreneurs. Prominently, this is because there are no restrictions on the flow of capital from a New Zealand business to overseas investors; and this enables anyone to effectively set up a new branch of business and transfer assets to your home country.
Here are some schemes and incentives for entrepreneurs in New Zealand.
> Women Entrepreneurship Centre (WEC)
Women Entrepreneurship Centre (WEC) is a not-for-profit organization based in New Zealand that is striving towards the empowerment of the community – through inspiration, education, and leadership. WEC provides assistance in entrepreneurship, leadership, employment & training, career mentoring and upskilling through many awareness programs, workshops, skills development, mentoring information sharing & networking.
> Ministry of Awesome
Ministry of Awesome is a strong force that backs high-growth startups in Aotearoa. They give full support in a number of ways – they drive startup ambition, build capability and steer success for early-stage NZ founders and startups that have global ambitions.
> Entrepreneurial Women with Purpose
Entrepreneurial Women with Purpose supports women to develop a defined mindset for the future, that will lead to progress. Their purpose is focused on – educating, empowering and enabling women to be the change they want to see in the world. They are committed to supporting women in business, emerging leaders and the next generation to lead, in keeping with the mood today. And we have seen how it t has become increasingly important to us – to lead our businesses, keeping our planet and all of its ecosystems – at the core of our decisions.
> The Māori Business Growth Supports
The aim of Māori Business Growth Supports is to help Māori business owners and entrepreneurs who are starting out. To be eligible, one point is relevant – the majority ownership of your business must identify as Māori. There are conditions – you must also have a business plan and have attended Inland Revenue’s Introduction to Business workshop; then, you will be paired with an account manager who will help you to identify your needs; and account managers are located throughout New Zealand.
You will be connected with other agencies who will help you establish and grow your business.
>>Agency – Te Puni Kōkiri, which is aimed at: Māori business owners and entrepreneurs. And registration can be done online.
>>Agency: Ministry of Business, Innovation and Employment, is aimed at Māori collectives and
to get this, people can apply in the annual call for proposals.
>>Agency – Callaghan Innovation, has the objective of working for high-growth or technology start-ups. They “activate innovation and help businesses grow faster for a better New Zealand”. Here people can sign up and then be connected to the nearest incubator or accelerator. Callaghan Innovation funds incubators and accelerators across the country. Accelerator programmes are available for technology start-ups and aim to quickly get them ready to approach investors.
The goal here is to help entrepreneurs grow global for agtech & foodtech businesses. As an agtech or foodtech innovator all you aspire to do is to get your idea or product “out there” and to make your mark on the future health of the planet and its people. This can be done and you can build your business here through the Sprout Accelerator!
The Sprout Accelerator seems to be tailor-made for all selected companies. And it focuses on three core areas that enable scalable growth: connections to an expansive, sophisticated global network so you can engage with the market and find customers and business partners; extensive domain knowledge to help you develop innovation that actually contributes to the resourcing, feeding and health of the planet; capital raising preparation through business plan development and investment pitch practice, and the chance to pitch for investment to access $1 million in seed-stage capital and also introductions to investors, who may be waiting for good ideas.