Westpac Business Growth Grants

Applications now closed.

The Westpac Business Growth Grants are part of our push to help upcoming Kiwi businesses reach their potential.

Congratulations to our six regional winners:

  • Earth Stability – Auckland/Northland
  • Jumpflex – Waikato/Bay of Plenty
  • Origin Earth – Central North Island
  • Taska Prosthetics – Wellington and Lower North Island
  • PURE Sports Nutrition – Canterbury Tasman and West Coast
  • Wanaka Transport Group – Otago Southland

Here are the prizes:

  • 6 regional winners will attend the Nurture Change Business Retreat in Hawaii - to take time out to focus on working on their business with a range of experts and business leaders.
  • 6 regional winners will receive expert business mentoring including legal, HR and accounting advice^ 
  • 6 regional winners will receive a $2,500 Quest business accommodation package voucher.
  • The overall winner will also receive a Growth Grant valued at $50,000 (including $40,000 cash# and $10,000 free advertising used in collaboration with Westpac's appointed media agency). 
Prize Packages

6 regional winners

  1. Business Retreat in Hawaii -The 6 regional winners will receive travel to and from, and free attendance at the upcoming Nurture Change Business Retreat being held in Hawaii, at The Modern Honolulu, from the 14th to the 19th of September 2018*.
  2. Quest Business Accommodation Package - The 6 regional winners will each receive a $2,500 Quest Business accommodation package voucher.
  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 Hawaii and receive the above Expert Business Advice PLUS a $50,000 grant 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 now closed.  

The 6 regional winners were notified 29th June 2018.

The Judging Event to select the overall winner will be held in Auckland: Thursday 26 July 2018

Nuture Change Business Retreat in Hawaii: 14 - 19 September 2018

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.