The $6.85m package, launched by Earthquake Recovery Minister Gerry Brownlee and Acting Economic Development Minister David Carter in Christchurch today, includes money for business recovery coordinators, international visits for exporters, a trust fund for those in need following the quakes, and more money for workshops and business training.
Mr Carter said the funding would go towards local initiatives to help restore the confidence of businesses, maintain their financial liquidity, and support ongoing operations.
"The package includes $1.7 million to extend the reach of the local recovery team by recruiting new business recovery coordinators," Mr Carter said.
"The new coordinators will assess businesses' needs and refer them to the right services, as well as facilitate access to funding sources."
A one-off donation of $2.5m had been earmarked for the Canterbury Business Recovery Trust Fund, a private-sector initiative to facilitate business-to-business donations.
It would go towards funding the needs identified by local businesses, such as professional services or relocation costs.
A $2m fund to support visits to international markets by earthquake affected export businesses would be made available through New Zealand Trade and Enterprise, and would cover 75 percent of eligible travel expenses.
A further $650,000 would also be made available for businesses to access training, workshops and business coaching.
Mr Brownlee said while a significant number of Canterbury businesses were fully operational, the Government knew it was not easy for some to get back on their feet after so many setbacks.
"By taking a partnership approach to economic recovery, we're aiming to put the right people and the right services where they can make the most difference," he said.
"Exporters have expressed concerns about how people outside New Zealand perceive the ongoing effects of the earthquake on business.
"The funding to support visits to international markets will help them meet clients face-to-face, reinforce ongoing relationships and reassure them that Christchurch, and New Zealand, is open for business."
The $6.85m funding for would come from a realignment of funding within the Ministry of Economic Development and New Zealand Trade and Enterprises baselines.
The Canterbury Business Recovery Group, which will administer the trust fund, said the support package would provide a lifeline for the whole community.
"It is essential for the future of the region that jobs are retained, businesses survive and thrive and money continues to flow within and into this economy," spokesman Peter Townsend said.
"The Government's wage subsidy has been working well but we know it can't last forever and these additional measures are needed now to enable the businesses to get back up and running again.
Businesses just need some immediate help to make it through this period."
A previous six-week Government assistance package for employers and workers finishes next week.
