Westpac Business Growth Grants 2019

Regional finalists announced.

Congratulations to the Growth Grants 2019 regional winners:

  • Dive! Tutukaka - Auckland/Northland
  • Pacific Collections - Waikato/Bay of Plenty
  • Zeffer Brewing Limited - Central North Island
  • Fix and Fogg - Wellington and Lower North Island
  • Jeuneroa - Canterbury, Tasman and West Coast
  • Hunter and Craig Building and Design - Otago/Southland

All regional winners attend the Nuture Change Business Retreat in Fiji in September and will also receive expert mentoring including legal, HR and accounting advice.

Now in its fifth year, the Growth Grants was established to help upcoming Kiwi businesses reach their potential. The overall winner will be announced in Auckland on 25 July 2019.

 

 

Prize Packages

6 regional winners

  1. Business Retreat in Fiji -The 6 regional winners will receive travel to and from, and free attendance at the upcoming Nurture Change Business Retreat being held in Fiji, at The Intercontinental, Natadola Bay, from 4 - 8 September 2019*
  2. Quest Business Accommodation Package - The 6 regional winners will each receive a $2,500 Quest business accommodation package vouchers which are valid at any Quest Apartment Hotel in New Zealand*
  3. Expert Business Advice^ - The 6 regional winners will be able to choose from one or more of the following:
  • A 2 hour 1:1 consultation with a Chartered Accountant which can be used to review your business’s financials, business structure, tax structure or a particular accounting issue^.
  • A two hour 1:1 consultation with a Lawyer which can be used on any matter related to your business^.
  • A two hour 1:1 consultation with an Human Resources expert which can be used on any matter related to your business^.
  • A two hour 1:1 banking and finance consultation with an experienced business banker to review all your current banking and funding arrangements, to provide you with any recommendations to simplify your banking, save you money or improve cash flow, and answer any banking or funding questions you may have.

Overall Winner

The overall winner will also attend the above Business Retreat in Fiji and receive the above Expert Business Advice PLUS a $50,000 grand prize which consists of:

    •  A $40,000 cash prize; and 
    •  A $10,000 advertising package - which is to be used in collaboration with Westpac’s appointed media agency.

 

Key dates

Key Dates

Applications are open from Monday 29 April and close at 5pm on Friday 7 June, 2019. Apply now to get one step closer to Fiji. 

The 6 regional winners will be notified by 5pm, Friday 28 June 2019 by phone or email.

The Judging Event to select the overall winner will be held in Auckland on Thursday 25 July 2019.

The Nuture Change Business Retreat is in Fiji between 4 - 8 September 2019.

 

Application process and criteria

Application Process

If your business has been operating successfully (with a turnover of anywhere up to $10 million) and you’ve got a plan to grow it, then a Westpac Business Growth Grant could help you reach your goal. We’ll help provide a springboard for 6 New Zealand businesses by providing opportunities for mentoring and consultancy. 

There will be six regional winners who will be selected from six regions, one from each of the following -

  1. Auckland/ Northland
  2. Waikato/ Bay of Plenty 
  3. Central North Island (Taranaki/ Manawatu - Whanganui/ Hawkes Bay/ Gisborne)
  4. Wellington
  5. Canterbury, Tasman, Nelson, West Coast, Marlborough) 
  6. Otago Southland

The 6 regional winners will be asked to provide supporting financial statements (which may include a profit and loss statement and balance sheet). This should complement their application and is an opportunity to reinforce why their business should receive a Growth Grant

The 6 regional winners will also be asked to present their ideas for growth to a panel of high profile business leaders at a judging event day. They will have 15 minutes to pitch these ideas followed by no more than 10 minutes of Q&A from the panel. Presentations will be followed by an awards event where the overall winner will be announced. 

All applications will be assessed by panels of business experts.

Criteria

The assessment of entries will involve, but will not be restricted to the following:

    • Growth Opportunity: Your proposal must demonstrate a clear and viable opportunity that is sustainable in the long term. 
    • Planning: Your proposal displays that steps have already been taken towards the stated growth opportunity. Implementation has been considered along with identification of the barriers to the opportunity. The proposal must provide a clear outline of how the $40,000 will be spent if your business is selected as the overall winner.
    • Sustainability: Your proposal shows how your business makes a positive contribution to New Zealand economically, socially, and environmentally.
    • Financial: Your New Zealand business should have experienced sound financial viability for at least the last two years.
    • Communication: Your proposal communicates the vision, goals and business story effectively.
    • Business Acumen: Your proposal displays clear evidence of sound business acumen.