TITIRO MAI, PĀNUI MAI
Due to COVID-19 Poutama requires all applicants to provide Cashflow Forecasts for the next 12 months going out to July 2021. In addition we also require you to provide some form of Business Continuity Plan.
These additional requirements are required due to the uncertainty and unknowns caused by COVID-19. Poutama is a self-funded organisation that receives no Government support and therefore has limited resources. This will enable Poutama to make an informed decision on the viability of your business during these extraordinary times.
If you are unable to provide Cashflow Forecasts and a Business Continuity Plan, the Māori Business Response service is available whereby you are taken through a relatively quick and easy assessment. If it looks like your business can get through this crisis there is assistance available to have an Accountant and/or Business Adviser help develop Cashflow Forecasts and a Business Continuity Plan. The service is available at no cost and you can call 0800 4 POUTAMA (0800 476 882) to speak to an adviser.
Please be advised that if you are unable to upload Cashflow Forecasts and a Business Continuity Plan, your application will not be considered.
WHAKATŪPATO – PLEASE NOTE
Due to pressure on financial resources and the large number of applications for funding that Poutama receives, as from 1st July 2020 the amount that can be applied for at $10,000 per calendar year (from the date applied to 12 months later) will reduce to $5,000.
Please also note that to be eligible for Poutama grant services your business has to have an annual turnover of at least $120,000.00. Anything lower than this amount will be ineligible for Poutama support.
Poutama has a flexible approach on how it can invest into a business. The key thing we look for is how our investment will help develop and grow a business over and above what we consider ‘business as usual’ activities. For example we do not assist with the payment of salaries or wages, or the purchase of stock.
The Poutama team ideally like to see your business in action and get a good understanding of what are the key issues and challenges you face. We are more than happy to visit your business or talk to you via Skype, Zoom, on the phone, via email or through social media channels.
Once we have a good understanding of your business we can then better determine how Poutama’s investment services can best assist you to meet your business aspirations. Sometimes this may mean applying our investment services in a way that wasn’t initially envisioned by you. It is important to keep in mind that Poutama’s investment into your business is of a limited amount. Given this, we want to ensure that the investment is applied in a way that will be of maximum benefit to your business.
You should note that Poutama’s investment into your business is on a 50/50 basis up to a maximum of $5,000. This means that of the total sum you require, you must come up with a proportion of the amount that is at least equal to what Poutama is investing. For example, if the total amount is $6,000 then Poutama comes up with $3,000 and you come up with $3,000. If the total amount is $30,000 then Poutama comes up with $5,000 and you come up with $25,000. Remember, Poutama’s total investment is up to a maximum of $5,000. We do not go above this amount.
Poutama is reasonably flexible on the types of activities it will invest in. The main thing for you to be aware of is how the investment will impact upon your business, and how it will help develop and grow your business. Poutama will work alongside you to ensure that both your investment and our investment are used for maximum benefit for your business. Given that demand on Poutama’s investment services often exceeds our ability to supply, you need to consider carefully how Poutama’s investment services can help. Poutama urges you to make contact with us to explore possibilities.
With any investment services there are a number of conditions and criteria. These are outlined below, please take the time to read and understand what they are. If you have any concerns or questions please feel free to contact Poutama on 0800 476 882 or email firstname.lastname@example.org.