- Is there a deadline to apply?
On 1 May 2017, the Minister for Economic Development launched the Business Recovery Grants Programme (BRGP) for quake-affected businesses in Kaikōura, Hurunui and Marlborough.
The BGRP is intended to assist those businesses most in need, helping them through until State Highway One (SH1) reopens.
There is no deadline to apply. We recommend businesses submit an application as soon as possible, so you can receive help quickly and relieve the financial pressure on your business.
- Why do we need to go through an application process?
The aim of the application is not to create burden for business, but to ensure that the support reaches the businesses in most need, and that these businesses are otherwise viable.
- Why does it need both the 2016 and 2017 financials?
The 2016 financials provide a base point for evidence of viability before the Earthquakes. The 2017 draft financials show that the impact that the November 2016 Earthquakes had on your business, showing sales, and any insurance proceeds.This is not a forensic review of your accounts but merely an exercise to gain a big picture of your business.
Your accountant will be able to assist you with this.
- Why do I need to do a cash flow?
The cash flow allows businesses to demonstrate the amount of financial support they need going forward.
- Why do I need to provide a Personal Financial Summary? And what is one?
Applicants are expected to contribute towards their businesses financial future, where they have the means to do so.
The Personal Financial Summary can be as simple as a statement of personal assets and liabilities, not listed in the businesses Balance Sheet
- Does the council see my financial statements?
No. District councils will not see businesses’ financials. These go to an independent administrator who will confirm all the documentation has been received and then will forward through to a Grants Assessor for review. In most cases the Assessor will make direct contact with the business to discuss the application and the best way forward.
The Assessor then provides a recommendation through to the BRGP Independent Panel for its decision.
- I bought a business just prior to the earthquake am I eligible?
If you have purchased a going concern, new business owners should email email@example.com.
- What is the point of applying when there is not a large amount of money available when shared across many businesses? Focus on your individual business needs and what support that your business requires to continue operating. The Grant Programme looks at each individual business separately rather than just equally splitting payments amongst all that apply.
If further funding is required, then Government will reassess the Programme’s funding. The Ministry of Business, Innovation and Employment is monitoring the application process closely and will ensure Government receives early advice if more funding is required.
If you have any further questions or would like to discuss your circumstances with a Grants Assessor, please email firstname.lastname@example.org and we’ll arrange that for you.