The Pacific Business Village initiative was launched in Tauranga by the Minister for Pacific Peoples, Aupito William Sio on 29 April 2022.
The initiative has been established to support sustained growth in the Pacific business sector and to provide a strategic framework for long-term economic development for Pacific business in the regions outside of Auckland.
The Ministry will work with Pacific business communities to provide greater accessibility to business support services and support Pacific business communities into operating sustainably, alongside recovery from the impacts of COVID-19.
Central to the operation of the Village and creating a Pacific circular economy, are the following funding components:
A key priority of the Pacific Business Village will be the Tauola Business Fund, providing direct investment into businesses to accelerate their long-term growth, and assist with the economic recovery from the impact of COVID-19.
The Fund provides up to $100,000 grants to support existing small and medium sized businesses in the regions outside of Auckland to create immediate employment, stimulate growth, increase productivity, and ensure Pacific businesses thrive in response to the impacts of COVID-19.