December 2, 2022| Newsletters| Wellington Pasifika Business Network

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Warm Pacific Greetings to you *|FNAME|*,

Applications for the Tauola Business Fund have recently opened to Pacific business owners. The Fund enables direct investment into Pacific businesses across New Zealand, allowing you to increase productivity, scale your business, and participate in the economic development of Aotearoa.

This announcement is very exciting! As a Pacific business owner, so long as you fit the criteria, you are able to access up to $100,000, excluding GST. Please read our newsletter to gain an idea of what you need to do.

If you want to take advantage of this funding opportunity, I am available to support any of our members who wish to submit an application. So, please do reach out if you would like some assistance from me. The Wellington Pasifika Business Network is here to serve our members.

Tauloa Business Fund

Aims

The aims of the Tauola Business Fund are to:

Increase productivity and stimulate growth
Strengthen Pacific-owned businesses to be more successful and sustainable
Improve Pacific peoples’ participation in the labour market
Create employment pathways for Pacific peoples
Increase resilience through the economic shocks

Fund Opening & Closing Dates

Amount Requested: Applicants can request up to $100,000, excluding GST from the Tauola Business Fund.

Your Contribution: Please note that you are required to contribute a minimum sum of 15% of the requested amount.

Closing Date: Friday 20 January 2023 (7pm).

Eligibility

To be eligible, applicants must:

Be a Pacific business (defined as minimum of 50% Pacific ownership).
Sole traders must be 100% Pacific owned.
Operate commercially in New Zealand and be GST registered.
Commit to co-contributing a minimum of 15% (excl. GST) of the requested funding amount.
Have a turnover of at least $60,000 per financial year.
Be trading for at least 12 months.
Not be a current funding recipient of the Ministry for Pacific Peoples.

What Can Be Funded

The Tauola Business Fund is available for Pacific businesses who can demonstrate the following:

An ability to create employment opportunities for Pacific peoples.
A commitment to improving Pacific participation in the labour market.
An ability to increase productivity and scale up.
Job creation within 6 months of receiving funding.
Build capacity and capability to participate in economic development projects.
Good health and safety practices.

What Can’t Be Funded

There are some activities that are not eligible for funding. These include:

Feasibility studies
Financial subsidies for salaries and wages
Travel, accommodation, or fact-finding tours
Debt repayment or debt servicing
Rent/leases

The full list is available on the Ministry for Pacific Peoples’ website.

Evaluation Criteria

There are, as you would expect, quite a few questions to respond to when making an application for funding.

There are five sections of the form to complete:

Applicant details
Eligibility questions
Business / organisation details
Funding details
Supporting documents

I am available to support any of our members who wish to submit an application. So, please do reach out if you would like some assistance from me.

Assessment Timeline

Application Submitted: by 20 January 2023
Application Assessment: by 10 February 2023
Panel Phase: 13 - 17 February 2023
Contract Phase: 27 February – 10 March 2023
Outcome Notification: 20 - 24 February 2023
Contracts Signed and Returned: 13 March 2023
Payments Made: Mid-April 2023

Frequently Asked Questions

The Ministry provides a frequently asked questions about the Tauola Business Fund section. It’s worth reading.

The best thing to do is to head over to the

Ministry for Pacific Peoples’ website

Support For Members

Should you decide, this could be for your business, I am available to support any of our members who wish to submit an application. So, please do reach out if you would like some assistance from me.