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Everything You Need To Know About Startup Business Grants In New Zealand

Man looking at plans for business

Startup business grants could be the answer to your business financing troubles – but just how do you get your hands on the limited amount of dollars available as grants in New Zealand? We’re breaking it down with the grants every startup entrepreneur should know about and how you can successfully apply.

 

Grants for R&D

 

The Callaghan Innovation Getting Started Grant

If you’re still in the process of developing your product line (or want to expand into something new), the Getting Started Grant is worth a look.

What you get

  • One off payment of up to $5,000 or 40% of your eligible R&D project costs

Who can apply

  • Only for registered companies, limited partnerships or a Maori incorporation or trust.

Find out more.

 

The Callaghan Innovation Experience Grant

This grant essentially subsidises the cost of hiring a full-time student during their summer break. It’s designed to give students experience and to give businesses the opportunity to leverage new thinking in their R&D.

What you get

  • A one-off payment of approximately $8,500 for 400 hours of full-time work upon proof of payment to the student you’ve hired.

Who can apply

  • Only for registered companies, limited partnerships or a Maori incorporation or trust.
  • You must have an active R&D programme with a budget and staff.

Find out more

 

Grants for starting a business

 

Work & Income Flexi-Wage

If you’re currently on a benefit and want to start your own business, the Work & Income Flexi-Wage can provide you with a subsidy while you get everything rolling. Essentially, it lets you retain some of your benefit until your business is making enough to support you normally.

What you get

  • The equivalent of the minimum wage for up to 30 hours of work a week, for 52 weeks.

This will depend on your needs, skills, expected cash flow and your living expenses.

Who can get it

  • Those starting a business while on Jobseeker Support, Sole Parent Support or Supported Living Payment.
  • Those who already have started a business but need help to become self sufficient (and are on one of the benefits listed above).

Find out more.

 

Self-Employment Startup Payment

Starting a new business can have a lot of costs, and the self-employment startup payment exists to help you cover them.

What you get

  • A maximum of $10,000 in a 52 week period to go towards, equipment, stock, materials, renovations, legal costs, bonds and so on, depending on your needs.

Who can get it

  • Those on a benefit (either currently or have applied), and those on superannuation or a veteran’s pension as a non-qualified partner
  • Those who are starting a new business or need help becoming self-sufficient.

Find out more

 

Business Training and Advice Grant

Starting a business may be technically easy in New Zealand, but keeping it running efficiently is tough. This grant gives you access to the expert advice you need.

What you get

  • Up to $1,000 every 52 week period to put towards business skills training, developing a business plan, business advice, and more.

Who can get it

  • Those on a benefit (either currently or have applied), and those on superannuation or a veteran’s pension as a non-qualified partner
  • Those who have already asked for help from the government with their business
  • Those who are planning to take up or are already receiving the Flexi-wage for the same business.

Find out more

 

Non-financial support

While they don’t give you money towards anything specific, the resources below can provide access to valuable skills and experts that can help you get your startup rolling.

 

Regional Business Partner Network

The RBPN provides networking opportunities, business advisors and other resources to help you find ways to build capability and grow. They also, notably, can give you advice on obtaining the other grants listed here.

Find out more

 

Callaghan Innovations incubators and accelerators

The Callaghan Innovations incubators and accelerators programmes give technology companies advice and investment to make the most of the flourishing, innovation-dependent industry they have stepped into.

Find out more about incubators and accelerators.

 

Business Mentors NZ

Business Mentors NZ provides guidance and general advice to entrepreneurs in any industry. They have a specialised programme specifically for startups which can help you develop business plans, test idea feasibility and understand your legal obligations.

Find out more

 

Need more capital than the grants here can provide? Get in touch with the business finance team at GetCapital to discover your options for fast, unsecured business loans for your startup.