SMEs get chance for funds to aid growth

Chamber of Commerce Northland chief executive Tony Collins, Westpac Northland Area Manager Rod Parkinson and Whangarei lawyer Ian Reeves at the chamber's BA5 last Wednesday. Photo / Christine Allen

Small to medium (SMEs) size businesses in Northland could be in with a chance to scoop some top prizes through the new Westpac Business Growth Grant programme.

The programme is part of a nationwide focus to help SMEs that have plans to grow and the overall winner would receive a $40,000 Westpac Business Growth Grant and $10,000 worth of advertising.

Ten businesses will win up to one day's free business consultancy across a variety of chosen topics, while the top six finalists will get to attend the Nurture Change Business Retreat in Fiji on November 11-15, where they can take time out to focus on their business with a range of experts and business leaders, including Sir Graham Henry and Victoria Crone, MD Xero.

The programme is open to businesses from all sectors, which have plans to grow, and the companies do not have to be Westpac customers.

Westpac Northland area manager Rod Parkinson said Westpac had spent the past few months speaking to business customers to see what their needs were.

"Many SMEs need an injection of funding to grow," he said.

The evaluation criteria states that the application must be an original work and the business should have experienced sound financial viability for at least the past two years.

The application must provide a clear and viable opportunity for the business' growth, and display clear evidence of sound business acumen.

It must also consider long-term financial sustainability and show that steps have already been taken towards the stated growth opportunity, identifying hurdles to achieving that opportunity.

The application should communicate the vision, goals and business story effectively and provide a clear outline of how the $40,000 Westpac Business Growth Grant would be spent if the business is selected as the overall winner.