Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Dunedin Business Incubator Awarded $35,000

15 July 2001

The Dunedin Fashion Incubator has been awarded $35,000 in the first Industry New Zealand Incubator Awards.

Funding under the awards is provided for a wide range of purposes, including installation of IT and web infrastructure, provision of business services to tenants, research into business incubator best practice, management training and salaries, and visiting expert programmes.

“The emergence of business incubators in Dunedin is a really positive development for the city’s economy. They will play a key role in building bright, innovative businesses that will make a valuable contribution to the region through the creation of commercially viable products and services.

“Industry New Zealand is keen to support their development, which will lead to more jobs and greater prosperity. American research showed that 87% of incubated companies remained in business three years after leaving their incubators, and 85% remained in the community,” said Neil Mackay, chief executive of Industry New Zealand.

“Business incubators will help arrest the failure of small businesses. In New Zealand, 86% of enterprises employ less than 5 people. It has been suggested that around 80% of them fail within three years of establishment.”

Ends/…

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>

ALSO:

Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>

ALSO:

Talking Up The Economy: NZD Gains On PM's Mistaken GDP Comment

Her comments were downplayed by her chief press secretary who said she was referring the government's June year financial statements and had "made a mistake." More>>

ALSO:

Oxfam: Drug Companies Cheating Countries Out Of Billions In Tax

Oxfam’s analysis suggests these four companies are shifting profits out of countries where they do their business and into tax havens that charge little or no tax. More>>