Small Business and Manufacturing Minister Cameron Brewer announced yesterday the government was funding two initiatives by Business South and Business Mentors New Zealand to support small businesses and unlock growth opportunities.
The undisclosed amount of funding would expand Business South’s Accelerator NZ programme to a further 500 businesses, Mr Brewer said.
"The programme has already proven itself with more than 100 businesses.
"This expansion will let more than 500 benefit from AI-powered diagnostics over the next year."
Business South chief executive Mike Collins said the programme went live in January and had so far only been available to businesses in Otago.
The funding would allow it to be scalable to other regions across the country.
"It's extremely significant," Mr Collins said.
"The model is working for us and the funding has given us that capability to provide the benefits of what we've done for Otago businesses to other regions, which is all about growing productivity and giving businesses practical action plans on how they can do that."
Combining a structured online assessment and a session with a local business adviser, Accelerator NZ aims to help businesses strategise for the future and connect them with the right ongoing support.
Artificial intelligence is used to personalise the programme for each business, matching the right assessment, insights and recommended next steps to their situation, sector and stage of growth.
The end result is a detailed action plan businesses can measure and monitor over time.
Mr Collins said the programme could reach businesses in Southland, Christchurch, Wellington and Auckland within about four months.
About 120 businesses had been through the programme so far and they had received some "fantastic" testimonials.
The programme was available to any business, not just Business South members, he said.
"We're hoping it's going to have a significant impact.
"It’s about moving the dial for businesses and making them more efficient and effective through partnerships and the like.
"Being recognised as something that's going to improve New Zealand businesses is a massive achievement."
