Markets

Budget 2022 pitches equity fund for small business

Dan Brunskill
Thu, 19 May 2022

Budget 2022 pitches equity fund for small business
The government wants to partner with banks to provide investment in small businesses.
Dan Brunskill
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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