We have all heard the rhetoric time and time again. As a nation, New Zealand lives beyond its means. We spend more than we earn internationally, with the difference being funded by borrowings from rich foreigners. It’s unsustainable – a bit like putting holidays and cars on the mortgage year in and year out. Our booms in the past have been built on domestic consumption more than export earnings. We have been hearing this for years.
But what’s to be done? Elevate CA are very interested in the answers to this question, and this is a theme that will repeat in this blog over time.
So we are excited by the University of Auckland Business School Entrepreneurs’ Challenge which will provide finance to eligible growth oriented SMEs that are seeking funding for business growth – preferably internationally. Up to one million dollars annually will be made available for investment. Entries close on 21 August, and the Challenge is open to GST registered NZ businesses that have a turnover of at least $1m per annum and have been in operation for at least two years. Preferably they will be exporting or planning to export. We will be encouraging our clients and others in this category to enter and get involved in this Challenge! Check it out at http://www.entrepreneurschallenge.co.nz
This is an exciting offering from the Business School, and we’ll be watching this closely – and commenting here. Watch this space.
Fraser Hurrell is one of three directors of Elevate CA Limited, Chartered Accountants & Business Advisors in Whangarei, New Zealand.