Source: New Zealand Government
The Pacific Business Village (the Village) is now going to set up in the Auckland region, said Minister for Pacific Peoples Aupito William Sio.
The Ministry secured $15.5 million in Budget 2022 to meet community demand volumes for services to support Pacific businesses and Pacific social enterprises across Aotearoa.
“The Village has been well received by Pacific businesses and we recognize the need to expand the Village to supporting the large number of Pacific businesses operating in Auckland.
“Up until now our primary focus in establishing the Village has been on elevating Pacific regional economic development in areas outside of Auckland.
”I am confident that the Pacific Business Trust will continue to play a contributory role in the Auckland business world working with high value Pacific businesses, growing Māori and Pacific business opportunities.” Aupito William Sio said.
As part of the support delivered by the Village, the Ministry have provided capital investment for Pacific businesses through the Tauola Business Fund. Round two of the Fund will launch on 18 November 2022, and Pacific businesses are encouraged to apply.
The Tauola Business Fund aims to support Pacific businesses through the following objectives:
- Demonstrate capability and capacity to increase productivity and stimulate growth
- Strengthen Pacific-owned businesses to be more successful and sustainable
- Improve Pacific peoples’ participation in the labour market
- Create employment pathways for Pacific peoples
- Increase resilience through the challenges of COVID-19
“A total of 20 businesses received funding of up to $100,000 from the first round of the Tauola Business Fund. We know there is still a high need for capital investment and we will continue to deliver this support through the Village,” said Aupito William Sio.
