This is being done in partnership with the New Zealand Ministry of Foreign Affairs and Trade (MFAT), and the Australian Government Department of Foreign Affairs and Trade (DFAT).
The investment of 3.3M NZD by both the New Zealand and Australian Governments to the Business Adaptation Grants is another example of how these two nations are working together with the Pacific Islands to contribute to a stable and prosperous region.
“We understand small and medium-sized businesses throughout the Pacific are still hurting financially from the impacts of COVID-19. This second window of grants will help affected businesses with funding to support new products and services, as well as projects to adapt to the changing environment,” says Steve Knapp, Director of Business Link Pacific.
Adaptation Grants will be available to eligible businesses in the Cook Islands, Fiji, Kiribati, Papua New Guinea, Samoa, Solomon Islands, Tonga, and for the first time in Vanuatu.
Adaptation grants applications are open now until the 27th of July 2021 via the BLP website: finance.businesslinkpacific.com/adaptationgrants
Business Link Pacific’s recent survey on access to SME finance and the impact of COVID-19 continues to show a deeply impacted sector; 84% of respondents said they had seen a decrease in their business profitability with 54.4% having reached out for financial assistance provided by banks or other financial institutions.
Since Business Link Pacific was established in 2017; it has assisted over 2,500 small-medium sized businesses with online Business Health Checks, Continuity Plans and in-depth diagnostics. Also, it has facilitated 765 business advisory services subsidies, and contributed to the creation of an estimated 890 new jobs; 49% of which are filled by women.