Westpac Business Growth Grants

Applications are now closed.

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

If you have ideas and a clear plan to grow your business, then we want to help. It doesn’t matter where you are based, which sector or industry you’re in, or even if you’re a Westpac customer.

Here are the prizes we’re offering:

  • 6 finalist businesses will attend the Nurture Change Business Retreat in Fiji - to take time out to focus on working on their business with a range of experts and business leaders including Sir Graham Henry, Kathryn Wilson and Sir John Kirwan.
  • 6 finalist businesses will receive expert business mentoring including legal, HR and accounting advice^ 
  • The overall winner will also receive a Growth Grant valued at $50,000 (including $40,000 cash# and $10,000 free advertising). 
Prize Packages

Top 6 finalists

  1. Business Retreat in Fiji -The top 6 finalists will receive travel to and from, and free attendance at the upcoming Nurture Change Business Retreat being held in Fiji, at the InterContinental Golf Resort & Spa from the 8th to the 12th of November 2017*.
  2. Expert Business Advice** - The top 6 finalists will also win:
  • A half day 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 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 open from Monday 26th June and close at 5pm on Friday 4th August, 2017. Apply now to get one step closer to Fiji. It should only take 15 minutes. 

Come and hear local heroes talk "growing business" and the keys to success in 2017 and beyond. 
To complement the Westpac Growth Grants programme we are running local events with a great range of speakers including social entrepreneurs, Economists and digital gurus.

Local event dates:

  • Napier - 4 July 2017
  • Nelson - 5 July 2017
  • Christchurch - 6 July 2017
  • Queenstown - 14 July 2017
  • Whangarei - 17 July 2017
  • Wellington - 20 July 2017
  • Hamilton - 25 July 2017
  • Auckland - 26 July 2017
  • Palmerston North - 26 July 2017
  • New Plymouth - 26 July 2017
  • Rotorua - 27 July 2017
  • Tauranga - 28 July 2017

If you'd like to attend an event near you please email us at growthgrants@westpac.co.nz 

The Top 6 Finalists Judging Event will be held in Auckland: 22 September 2017

Nuture Change Business Retreat is in Fiji: 8 - 12 November 2017

 

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. 

Shortlisted applicants 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 top 6 Finalists will be asked to present their ideas for growth to a panel of high profile business leaders at a judging event day. Here they will have 15 minutes to pitch their 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:

  • Financial: Your New Zealand business should have experienced sound financial viability for at least the last two years.
  • Growth Opportunity: Your proposal must demonstrate a clear and viable opportunity that is sustainable in the long term. 
  • Business Acumen: Your proposal displays clear evidence of sound business acumen.
  • 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 their opportunity. Provides a clear outline of how the $40,000 will be spent if your business is selected as the overall winner
  • Communication: Your proposal communicates the vision, goals and business story effectively
  • Sustainability: your proposal shows how your business makes a positive contribution to New Zealand economically, socially, and environmentally.

We may also take such other matters into consideration as part of this initial evaluation phase as we deem appropriate (acting reasonably).