NZTE offers Incentive for NZ Business to Break into Latin American Markets

A recent announcement made by Economic Development Minister Trevor Mallard that New Zealand entrepreneurs, start-ups and established businesses will receive extra funds for market development assistance is welcome news for Pifor, its clients and, importantly, its potential client base.

The funds will be directed to encourage the integration of more New Zealanders into global markets and improving New Zealand's international linkages.

The annual funding for the EDG-MD Scheme operated by NZTE will increase from $6.1 million to 25.9 million in 2006/2007. In addition to the extra funding, eligibility has been widened from $20 million to $50 million annual turnover to help more medium size companies access the support.

From 1 July application details will be available on the NZTE website and firms will be told if their application has been successful from 1 October.

The projects that are covered will need to be related to the implementation of a strategic market development initiative, covering the following expenses on a 50/50 match basis:

• Market visits (includes travel and accomodation in accordance with NZTE schedule rates)
• In-market representation and expenditure related to setting up and maintaining representation in new international markets
• Legal expenditure related to establishing in-market representation and costs related to setting up an office in-market, provided there is not one already present
• Advertising and promotion
• Marketing collateral
• Trade fairs and events (inlcuding related project management)
• Market research - services paid by NZTE for the provision of market research are excluded.

If your firm can demonstrate that it is committed and capable of undertaking significant and sustained market development activity, please contact NZTE or us for further information.

We are convinced Chile and Latin America offers significant business development opportunities for you.

NUNC TEMPUS ACCEPTABILE