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Source: BusinessNZ

National’s policy for growing enterprise would draw funds from several different sources and provide help at key points for new businesses, says BusinessNZ.
The BusinessStart scheme announced today would provide start-up grants of $10,000 and allow people to take $20,000 out of their KiwiSaver to start a business. The scheme would lift thresholds for provisional tax and writing off assets, provide free mentoring, and provide further grants of $10,000 for taking on a permanent employee. Tax credits for the taxed portion of redundancy payments would be available for a new business to pay future GST or provisional tax.
BusinessNZ Chief Executive Kirk Hope said the policy was a thoughtful approach to helping small business start-ups in the wake of the Covid crisis.