PROJECT: PRODUCTIVITY KICKER FOR SME’S

The Bank of New Zealand and New Zealand Trade and Enterprise, challenge Kiwi managers to invest in their own capability. Invest in a mentor, take a course, and search out for advisors who can make a difference

The Bank of New Zealand has for nearly 10 years been leading the market in engaging with Kiwi SMEs to assist them lift their management capability. They have been offering business growth programmes for their established SME customers. They have done this regionally & nationally, in its own right and through organisations like The ICEHOUSE. They have learnt that there is a significant correlation between the growth of businesses where the owners of those businesses have invested in the development of their own management capability.

New Zealand Trade and Enterprise, New Zealand’s Government organisation tasked with enabling the growth and international success of Kiwi businesses has also found that the challenge of going global from New Zealand is incredible. The risks, difficulties and obstacles, demand that the management teams of these businesses are more effectively prepared. NZTE’s experience is that significant failure of high potential Kiwi businesses is occurring because of the lack of capability and preparedness of the Kiwi managers.

Both the Bank of New Zealand and New Zealand Trade & Enterprise believe the correlation between business growth and development management capability is extremely strong. Each organisation would like to see thousands more Kiwi SMEs commit to investing in management development capability.

The $750,000 of funding from the BNZ will enable business owner-managers to apply to have the cost of The ICEHOUSE Owner Manager Programme reduced from $20,000 to $15,000. Additionally, eligible businesses working with a Regional Business Partner may be able to use Management Capability Vouchers from New Zealand Trade and Enterprise to reduce the cost of the course by a further $5,000. A network of 14 Regional Business Partners have been appointed by NZTE and the Ministry of Science and Innovation to help businesses develop, grow and innovate.

The BNZ and NZTE would welcome others contributing to the scholarship fund and creating their own funds to encourage and support business owners to invest in their capability. The scholarship fund will never invest more than 50% of the cost, business owners need to contribute to the costs so they are committed to implementing the learning and strategies that come from these initiatives.