Relationship fund helps Canterbury exporters

More than 90 Canterbury exporters will be reinforcing their relationships with key customers in the coming weeks thanks to the Christchurch Market Connections Fund, launched 10 days ago as part of the government’s economic recovery package for earthquake-affected businesses.

Over $1.3 million of the $2 million fund has already been approved to support 91 firms seeking to strengthen relationships and reassure customers that Christchurch, and New Zealand, is open for business.

Companies approved to utilise the fund include five from the education sector, seven from the biotech sector, nine food and beverage producers, 22 from the ICT sector, 23 services or creative firms, and 25 manufacturers.

The fund, which is administered by New Zealand Trade and Enterprise, was established in response to Canterbury exporters’ concerns about international market perceptions of the scale of damage to the region, and the belief by some customers that businesses weren’t trading at full capacity.

“Reassuring foreign customers that orders can and will be met is important to the region’s economic health,” Earthquake Recovery Minister Gerry Brownlee said.

“The scheme will solidify existing relationships and almost certainly lead to new business, which couldn’t be timelier.”

One company receiving support is orthotic insole maker Foot Science International, which has been exporting for over 20 years, and has clients in 25 countries. Its key markets are Germany, the United Kingdom and Australia.

Foot Science survived both quakes with little physical damage, but international misperceptions of the region’s ability to trade had caused problems, with even its oldest and most reliable customers thinking they were doing the firm a favour by holding back order volumes or delaying their usual order cycle.

“In response, Foot Science is keen to increase communication and make face-to-face contact with as many customers as possible – and as part of this, the Christchurch Market Connections Fund will help them to visit key partners in Europe, the UK and Australia,” Acting Minister for Economic Development David Carter said.

The fund was established to provide short-term assistance to earthquake-affected export businesses, supporting international visits to (or by) businesses’ existing customers, distributors, agents, and other key partners.

It is part of a wider $6.5 million business support package which is also funding business recovery coordinators, a trust fund for business operators in need following the quakes, and money for workshops and business training.

Exporters wanting more information about the Fund should contact New Zealand Trade and Enterprise on 0800 555 888. For more information about the government’s business support package visit www.recovercanterbury.co.nz or www.nzte.govt.nz/canterbury