<i>Business mentor:</i> Funds on offer for Maori businesses

1 Nov, 2001 07:14 AM2 mins to read

What funding is available for Maori small businesses?

Richard Jones of the Poutama Trust replies:

Maori small businesses can get funding through Government organisations such as Industry New Zealand and the Foundation for Research, Science and Technology.

There is also funding, including loans and grants, that is available through organisations that deal specifically with Maori business development.

Two of these organisations, the Poutama Trust and the Maori Women's Development Fund (MWDF), have been delivering business development services to Maori for more than 10 years.

The Poutama Trust offers business development grants on a 50/50 basis up to a maximum amount of $10,000. These grants can be used for the investigation of new business initiatives and/or the strengthening of existing activities.

The MWDF offers business loans up to $20,000.

In addition, Te Puni Kokiri offers a free service aimed at helping people gain access to the Poutama Trust and MWDF services.

The Poutama Trust business development grant can be used to pay for writing business plans and putting together proposals to obtain finance.

The grant can, among other things, be used to help in the researching of overseas markets and the costs of airfares and accommodation required to visit those markets.

The trust also has funding that can assist with buying products or services relevant to an applicant's particular business activity. It can also help with the costs of business training.

The MWDF loans are available at market rates and there is some flexibility with the security that is required.

The MWDF also offers other services such as business broking, networking and mentoring.

* Contact the Poutama Trust on 0800 476 882 or check its website. The MWDF can be contacted on (09) 376-0901 and information on the Te Puni Kokiri Maori business facilitation service is available at ministry offices.

* Send your Mentor questions to: Ellen Read. Answers will be provided by Business in the Business Mentor Programme.