Covid-19 Crisis – Government Funding for Business Advisor Support
This is to advise that the Covid-19 Fund has been either fully allocated or used. An email was sent out to all Regional Business Partner Network (RBPN) Registered Business Advisors that there is no money left in the pool for Business Continuity Planning or any of the 5 other areas being support by this fund at present.
I requested an update from the Regional Business Partner Network (RBPN), and they have advised that:
- NZTE only allocated $15m of the $29m assigned to small and medium sized businesses (SMEs) went to Covid-19 Business Advisory Fund. The balance went to a “Help Desk” and other NZTE departments such as Callahan.
- RBPN are keeping the Covid-19 Business Advisory Fund open as there is a chance more money will be allocated to this Fund from the $50 billion budget.
- The RBPN were not able to send out updates on the use of the Fund as their systems, which are due to be replaced, could not cope with the volume of applications that they received – one month’s of applications in one day.
As we are now all aware, the $50 billion budget promised a lot but provided very little to the here and now. Most of the money was yet to be allocated to either a project, location / region or be given a starting timetable.
However, all is not lost as the 50% co-funding for Registered Business Advisors for the first 3 months is still available for business as usual through the Management Capability Voucher Fund. Please see the Registered Services I offer through RBPB.
I have also registered a new service in association with Business Support Studio Limited to provide Market Analysis, Planning, Strategy and Digital Enablement, which includes website development or updating.
As I am not happy that active funding in the Covid-19 Business Advisory Fund is no longer available and there is a $50 billion budget (including a $20 billion slush fund) with only a Wage Subsidy extension to help in the here and now, I am doing my best to petition for an increase in funds to the Covid-19 Business Advisory Fund by taking up issue with other interested bodies and my local MP. I will keep you informed of any progress.
Stop Press: Latest update MBIE has requested additional Covid-19 funding and are awaiting a decision which will be released on Monday 25th of May.