Trust Donates another Half Million to Canterbury Businesses

8 February 2012

Trust Distributes another Half Million to Canterbury Businesses

A further $584,519 has been injected into Canterbury businesses in the last two months, with $2 million still available for businesses in need.

The Canterbury Business Recovery Trust distributed the $584,519 to 32 businesses during December 2011 and January 2012, bringing the total amount distributed since the Trust’s inception to $3,701,320. To date $5.4 million dollars has been donated to the Trust, which provides cash injections into viable but earthquake-affected businesses. The Trust is administered by Recover Canterbury.

Recover Canterbury Communications Manager Pip Tschudin says around 70% of the Trust’s funds distributed to date have gone towards providing sales and marketing support for businesses or assisting with relocation costs. Around a third of the funds approved for sales and marketing support were for the development of online tools such as websites and social media marketing.

“Reconnecting with customers and markets is still a major issue for many Christchurch businesses, many of which have had to change their traditional business model to fit the new Christchurch environment,” says Mrs Tschudin.

With many businesses now reopening in new or renovated premises, Mrs Tschudin says relocation and refit costs have also hit some businesses hard.

“Many businesses have not been able to trade, or have been trading at much lower levels than they would normally expect, which makes it tough to find the extra cash for what can be substantial relocation or refit costs.”

One business that knows a lot about relocation costs is Burgers and Beers Inc. With their High Street shop demolished in the September earthquake, and their new premise red-stickered in February, it’s been a tough road for the burger bar.

Burgers and Beers Inc received a $16,268 grant from the Canterbury Business Recovery Trust which enabled them to develop the outdoor area of their new premise in Colombo St, Sydenham.

“We were a little under-insured and could have walked away, but our brand was getting such great traction prior to September and we had such great support that we knew we needed to keep going,” says Burgers and Beers Inc co-owner Andrew Brown.

“When we started talking to Recover Canterbury we didn’t expect anything. We’ve been hit so many times we thought any help would be great. To get this grant from the Canterbury Business Recovery Trust has been so fantastic. It’s encouraging after such a tough time to get that boost to help us grow our business,” says Mr Brown.

Over the last two months Recover Canterbury has also distributed more than $62,000 worth of training to business owners and managers through the New Zealand Trade and Enterprise Capability Building Voucher Scheme and has referred more than 50 businesses to both Business Mentors New Zealand and the Red Cross Independent Advice for Small Business grant.

The Canterbury Business Recovery Trust has a further $2 million to distribute to earthquake-affected businesses, and the Trust is continuing to accept donations.

“Canterbury is filled with strong, enterprising businesses which have a huge part to play in the economic future of this city and the Canterbury Business Recovery Trust is here to give these businesses a hand up so they can help grow our city and its economic future,” says Mrs Tschudin.

To apply for assistance from the Canterbury Business Recovery Trust contact Recover Canterbury on 0800 50 50 96 or go to www.recovercanterbury.co.nz.

About the Canterbury Business Recovery Trust

The Canterbury Business Recovery Trust was established after the Christchurch earthquake to help businesses survive, revive and thrive. The Trust is administered by Recover Canterbury and provides cash injections into strong but earthquake-affected businesses. 100% of the funds donated to the Trust go to supporting Christchurch businesses.

Some of the key expenses businesses are requesting funds for include business planning and development costs, costs associated with relocation and fit out, access to expert advice and assistance, marketing costs and bridging finance.

The Trustees of the Canterbury Business Recovery Trust are Bruce Irvine, Andrew Thorburn, Humphry Rolleston, Lady Adrienne Stewart and Sir John Anderson.

About Recover Canterbury

Recover Canterbury was established after the Christchurch earthquakes to accelerate business recovery and prepare businesses for future growth. It is a collaboration between the Canterbury Employers’ Chamber of Commerce and the Canterbury Development Corporation, along with various government agencies involved in business support.

Recover Canterbury offers a wide range of services and resources to help businesses recover and revive, including advice, training and mentoring, referrals to professional services, assistance with business issues such as raising capital and access to the financial assistance provided through the Canterbury Business Recovery Trust.

ENDS

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