Budget 2022 pitches equity fund for small business

The government wants to partner with banks to provide investment in small businesses.

Thu, 19 May 2022

Budget 2022 has set aside $100 million to form a business growth fund that aims to invest in small to medium businesses alongside retail banks. The government would establish the fund with private banks and it would be a minority shareholder, essentially acting as a cornerstone investor.The minister for economic development, Stuart Nash said the fund was intended to fill a gap in New Zealand’s capital markets for small businesses that require growth capital. “SMEs are a core part of our economy, contributing 30% to New Zea...

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