Additional business support as part of budget

Business mentoring services and help for business under stress will get additional resources in Budget 2002.

Economic Development Minister Jim Anderton today announced that the Economic Innovation package in Budget 2002 contains one-off funding of $320,000 to fund two non profit organisations which help business.

Business in the Community provides a mentoring network to businesses where government services and assistance are not appropriate or necessary.

Company Rebuilders is made up of retired business people who assist viable companies which are facing difficulties.

“Building the nation’s skills and talents is a key goal of economic policy and this Government encourages experienced business people to help other businesses to do better.

“This government has always emphasised that industry and regional development initiatives should be based around partnerships with private sector expertise and this funding recognises and supports these two private sector initiatives,” said Jim Anderton.

The $320,000 is one off operating funding which has been reallocated from other business assistance programmes.

The new spending of $320,000 comes from unallocated 2002/03 Vote Industry and Regional Development appropriations.

Funding comes from the $331.875 million set aside by the Government for industry and regional development over a four year period from 2000/01.