Improving business survival in Rotorua

A business programme that improves business survival for Rotorua organisations is expanding to include pure start-ups to help with innovation and ideation.

More than 70 graduating organisations have completed Incubate, a 12-week intensive course designed for newer and smaller organisations. It helps participants build the foundations of a successful enterprise, and has a track record of success.

Rotorua organisations that have been through the programme have a survival rate of 95% which is significantly higher than average.

Programme creator Darren McGarvie from Firestation business growth centre says he is very pleased with the outcomes and is looking for comparable results working with start-ups.

“We have been running Incubate for the last three years. Tracking the participants has shown that the vast majority of Rotorua graduates are still operating.”

“This is a fantastic result. It’s unfortunate that most small to medium enterprises have a short life span and a quarter fail in the year.”

“Research by the Institute of Directors shows only 30% of small or medium enterprises celebrate their fifth birthday and only 10% make it to double digits. We are definitely helping improve those odds in Rotorua,” says McGarvie.

“Incubate is for organisations already trading. In the past, we have turned away applicants at the idea stage. We want to fill this gap in the market, so we’ve developed Activate. This is for people with an idea for a product, service or business to get them ready to launch.”

McGarvie is ready to replicate the success of Incubate with Activate. He attributes the success to the material presented and that execution is followed up with one-on-one coaching.

“Activate will follow the same model as Incubate. All sessions are focussed on implementation and execution. These are not theoretical courses. We provide best practice examples with tips for implementation. We share what we have done in our own business and why it works.”

All participants need to sign a pledge of commitment.

“The pledge is an important part of our programmes as the programmes are subsidised by councils and economic development agencies. We have found it is a powerful way to really set the tone of the course.”

“It highlights that it’s not just about sitting in a room for a couple of hours a week. You need to be an active participant and then execute what you learn.”

The programmes are generously subsidised thanks to funding from Rotorua Lakes Council.

The retail cost is more than $3,000, but is reduced to $49 per week with support from the council, Firestation and Employers & Manufacturers Association BoP.

There are a limited number of subsidies and free placements. Free places are only for non-profit organisations.

Applications are now open for Incubate and Activate, with the programmes starting late October. For more information or to apply go to www.bit.ly/FS-Inc10

More information:

Incubate:

• 70 organisations across 9 cohorts graduated since 2014

• Cohort 10 to commence October 2017 in Rotorua

• Cohort 11 to commence October 2017 in South Waikato

• 12-week course requiring a commitment of 2-3 hours per week

• Eight group sessions covering topics such as Growth Mindset, Marketing Essentials, Sales Strategies, Employment Law, Online Marketing, Business Essentials, Finance Essentials and Pricing.

• Two one-on-one coaching sessions.

• Final session all participants must present a business plan.

Activate:

• New programme to help progress business idea to launch

• 12-week programme requiring a commitment of 2-3 hours per week.

• Group sessions covering idea development, lean business canvas, market validation, business planning and growth mindset.

• Two one-on-one business coaching sessions.

• Final session all participants must present a launch plan

ENDS

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