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Pacific Aotearoa Regional Enterprise Fund

Pacific Aotearoa Regional Enterprise Fund

Frequently asked questions

Applications for the fund are at the discretion of applicants. The panel will make the final decision when they assess applications against the fund criteria and intended outcomes.

Applicants may consider applying for the fund if their business is based in a metropolitan area but can still clearly demonstrate, with supporting evidence, that the commercial contracts and economic operations of the business have been delivered in the regions over a prolonged and sustained period and will continue to do so over the duration of the fund.

Yes, capital expenditure (the fund) is available for all eligible Pacific businesses to scale, transition and diversify to participate in sectors/markets that will contribute to the rebuild of the economy and leading to the creation of jobs for Pacific peoples. This will need to be clear in the application.

Yes, this is one of the eligibility criteria for the fund. It is at the discretion of the applicant whether audited accounts signed by a chartered accountant is submitted as a part of their application.

No, but the Ministry for Pacific Peoples funds the Pacific Business Trust to provide support to Pacific businesses.

The eligibility criteria require the business to be trading for at least 12 months. However, if the business turnover is high and you require access to the fund to scale, diversify or increase productivity, then the panel will make the final decision when they assess applications against the criteria and intended outcomes.

Yes, if the roles and responsibilities of the partnership are clearly outlined in the application.

Yes, businesses already accessing other government funding or grants can apply for the Pacific Aotearoa Regional Enterprise Fund.

This classifies as a business that is operating commercially for profit (with a turnover of more than $70,000) and that all profits are directed or redirected towards the commercial operations of the businesses.

Yes. Ensure that the application demonstrates that the newly created job will scale the commercial operations of your business to diversify or increase the productivity.

Capital expenditure (the fund) is available for eligible Pacific businesses to scale, transition and diversify to participate in sectors/markets that will be contribute to the rebuild of the economy, leading to the creation of jobs for Pacific peoples. This will need to be demonstrated in your application.

Yes, if the application clearly demonstrates how the upskilling, training and/or education will diversify the commercial operation of your business, leading to an increase in productivity, and will scale the growth of your business to create jobs for Pacific peoples.

 

Yes, if the vehicle will directly diversify the commercial operation of your business. This should lead to an increase in productivity and will scale the growth of your business to create jobs for Pacific peoples within 3 to 6 months of receiving the fund.

Applications will also need to provide a clear plan on how equipment, including vehicles, will be operationalised over the duration of the fund and beyond.

There is no allocation towards specific regions, however the fund is open and accessible to all Pacific businesses in the regions (excluding metropolitan areas Auckland, Wellington and Christchurch).

The Ministry for Pacific Peoples funds the Pacific Business Trust to provide support to Pacific Businesses.

Other government agencies that could be useful are: New Zealand Trade and Enterprise, Ministry of Social Development, Inland Revenue Department, and Regional Business Partner Network.

Business plans and financial forecasts will provide clarity to the panel on the intention of your business.

Your application should include information on how you will utilise the fund to diversify the commercial operation of your business, leading to an increase in productivity that will scale the growth of your business and create jobs for Pacific peoples.

No, the eligibility criteria require limited liability or Partnership businesses to have a minimum of 50% Pacific ownership. Sole traders need to have full Pacific ownership. 

 

This can be negotiated when negotiating contracts. If you are applying for equipment, then the fund (80%) will be paid directly to a third-party.

Applicants are required to provide to competitive quotes. The applicant will then be required to pay their 20% contribution upfront to the third-party, for the equipment to be released.

The Ministry for Pacific Peoples will endeavor to provide guidance to unsuccessful applicants on other funding available.

All successful applicants are expected to deliver on agreed outcomes and spend the allocated fund within the timeframe of 1 October 2021 to 1 October 2022.

Yes, online workshops will be available on 9, 10 and 11 August from 6.30pm to 7.30pm.

Register for a workshop now