BNZ kick starts new fund for business growth

21 June, 2011

BNZ kick starts new fund for business growth

BNZ is joining forces with New Zealand Trade and Enterprise (NZTE) to provide up to $1.5 million to support the expansion of New Zealand businesses, helping to drive growth and improve performance. Owner-managers of New Zealand SMEs are being encouraged to apply for funding, available from the BNZ and NZTE, which will allow them to take advantage of the successful Owner Manager Programme (OMP) run by The ICEHOUSE.

The BNZ has committed $750,000 funding, while NZTE’s contribution will be through its Management Capability Vouchers. BNZ Director – Partners, Anthony Healy, believes the funding represents a significant investment in the New Zealand business community.

“BNZ is committed to the growth and development of New Zealand businesses. Right now they are poised, ready to expand. We see the ICEHOUSE’s OMP as having a key role to play in enabling a high performing New Zealand business community.”

The $750,000 of funding from the BNZ will enable business owner-managers to apply to have the cost of The ICEHOUSE OMP reduced from $20,000 to $15,000. Additionally, eligible businesses working with a Regional Business Partner may be able to use Management Capability Vouchers from New Zealand Trade and Enterprise to reduce the cost of the course by a further $5,000. A network of 14 Regional Business Partners have been appointed by NZTE and the Ministry of Science and Innovation to help businesses develop, grow and innovate. Hans Frauenlob, GM Products and Services at NZTE, says BNZ’s contribution is an excellent private sector initiative that complements the work NZTE is doing to build the management skills of New Zealand’s business owners and managers.

“Effective management practices will underpin the success of New Zealand businesses, domestically and globally. This partnership, between the BNZ, the ICEHOUSE and NZTE, focuses on helping owners and managers to build capability and ultimately grow their businesses in international markets. It is an initiative that we hope will inspire others to follow.”

ICEHOUSE CEO Andy Hamilton says, “The ICEHOUSE is looking to make a five-fold increase in our impact over the next 10 years through significantly increasing the number of internationally capable owner managers, entrepreneurs and businesses coming from New Zealand. We want to take a leadership role in working closely with organisations with aligned goals around growing great Kiwi businesses and growing a vibrant and internationally relevant New Zealand economy.”

The ICEHOUSE’s OMP is a 17 day course held over five months. It provides owner-managers with the skills they need to grow and fine tune their established business by providing a framework for strategic growth. OMP has a proven track record of fuelling growth in businesses that have participated in the programme, with some 96% of surveyed owner-managers saying the programme had a positive impact on improving their company’s performance. To apply for funding from the BNZ and for background information about management capability vouchers funded by NZTE, business owners can contact The ICEHOUSE. To apply for management capability vouchers, business owners should contact their local regional business partner. Visit www.nzte.govt.nz/regionalbusinesspartners for contact information.

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