Value Improvement Business Advisory Services are now fully qualified for this subsidy, Click the link to register for the course and you could receive an NZTE Voucher for up to 50% of the cost.
But what does this mean for you?
It now means that any “qualifying” NZ business who wants to develop their business in a number of key areas can now get help with the training they require through the Capability Development Voucher Scheme. This scheme will provide funding for 50% of any training course cost(s) up to a value of $5,000 per year.
Do you qualify for funding? To be eligible for funding your business must:
- have fewer than 50 full time employees
- be operating in a commercial environment
- be registered for GST in New Zealand,
- be privately owned, or a Maori Trust or incorporation under the Te Ture Whenua Maori Act 1993 or similar organisation managing Maori assets under multiple ownership,
- demonstrate a desire to innovate and grow, and
- have undergone an assessment with the Regional Business Partner.
What Areas Can you Get Funding For?
There are a number of areas within your business that you can get assistance with, for more details, you will need to speak to a Regional Partner near you but here are the general categories:
- Marketing Strategies (Includes Sales Strategies)
- Business Planning
- Business Systems
- Finance (Including Budgeting)
- Business Sustainability
- Managing Resources
- Lean Manufacturing / Business Operations
How does the voucher scheme work?
Before a business can access training for the business owner / manager they have to:
- Sign and complete a registration form, contact us to be referred to your Regional Business Partner
- Undergo an assessment of their business with the Regional Business Partner. During this assessment the business can request a Voucher for the Bstar NZ Services listed above.
A Voucher is then issued to assist in accessing training as identified in the assessment.
Please note: The business only pays for the portion not covered by the Voucher. We will then invoice NZTE for the remainder once the service has been delivered.
Use of the Vouchers
Regional Business Partners issue vouchers to eligible businesses based on the needs identified during the business’ assessment, and their level of growth potential and contribution the local economy.
Each voucher is valid only once, and can be used for a workshop, a course or a series of one to one coaching sessions. If there are multiple training needs then the business owner / manager may receive multiple vouchers to give them the flexibility to use different service providers. Business owners / managers can not use a single voucher with multiple providers.
If more than one Individual from the business is attending the same course or workshop, one voucher can cover all attendees.
Value of the Vouchers
The Regional Business Partner decide the value of the vouchers based on the needs identified during the assessment. Once validated the voucher is valid for the lesser amount of either,
- 50 percent +gst (max $5000) of the cost of the required service, or
- The dollar amount stated on the voucher + GST.
Example: A business owner is given a voucher with a maximum value of $5000.00 +GST.
1. If the business owner chooses to attend a service that costs $10,000.00 +GST, then,
- The business owner must pay $5000.00 +GST, and
- The service provider can redeem the voucher for $5000.00 +GST
2. If the business owner chooses to attend a service that costs $2500.00 +GST, then,
- The business owner must pay $1250.00 +GST, and
- The service provider can redeem the voucher for $1250.00 +GST.
- This is because the most a voucher can be valid for is 50% of the cost of the service i.e. 50% of $2500.00
Expiry Date of Vouchers
Vouchers have an expiry date which is 3 calendar months from the issue date. This is the date by which a Voucher must have been validated with a regional business partner. Services may be delivered after the expiry date.
Feel FREE to Contact Us for more information