Government funding will kick-start your Business Consulting

Governments around the world are pouring billions of dollars into their economies to keep businesses operating and people in employment. These measures are simply to soften the economic blow dealt by the COVID-19 virus and consequential business slow-down.

Business support packages, funds and grants have significantly increased to inject additional money into the economy and provide businesses with desperately needed support. 

These packages, funds and grants can be used to kick-start or even boost your existing Business Consulting or Advisory business. In most cases, there is a simple registration process for the Business Consultant to become authorised to take part in the business support program. Once this is complete, you can offer any existing or new client a subsidised Business Consulting Package.

Based on past experience with similar schemes, our recommendation is not to solely rely on these packages for acquiring a new client. Significant time and care should be taken to build a genuine business relationship that will provide the client with value and significant results, so the Consulting agreement continues far beyond the funded period. 

Additional Government funds to help Businesses

Additional funding opportunities are also available in the form of wage subsidies, tax credits and new employee incentives. It would be highly beneficial for you to know what is available in your area, so you can pass this information on to your clients to take advantage of.

Government funding can help to quickly grow your Consulting Business by reducing the initial cost of your services, making clients easier to sign. Once you’re working with the business owner, you can make use of other subsidies to quickly grow their business, making your monthly fee affordable.

New Zealand Business Funding

At the time of writing this article (09 August 2020) the following funds and grants are available and relevant to Business Consultants working with start-ups, small, and medium businesses in New Zealand.

1. Business Planning grants up to $1,000 per year

2. New Businesses - up to $13,000 made up of the Flexi-Wage Weekly Allowance of $7,000 and Start up grant $6,000. 

3. Management Capability Development Fund through the Regional Business Partner Network. Funding varies depending on what help you need.

4. COVID 19 Fund - up to $5,000 per business through the Regional Business Partner Network.

5. Apprenticeship Boost

   1. employers of first year apprentices can get $1,000 a month

   2. employers of second year apprentices can get $500 a month

6. Employers taking on employees through work and income will get

   1. a wage subsidy of up to $16,000 in your employee's first year and up to $8,000 in the second year while they're still training

   2. up to $2,000 to help with pre-employment training

For more information on the Regional Business Partner funding click here.

For more information on other subsidies and allowances click here.