Establishing a BGF was a recommendation from the Small Business Council's New Zealand Small Business Strategy in 2019. The Small Business Council was established by Economic Development Minister Stuart Nash, also then Small Business Minister, to provide strategic advice on the small business sector. We continue to discuss a potential Business Growth Fund with government officials, but we’re not in a position to make further comment about this yet," an ANZ spokeswoman says. Against that backdrop the Government launched the Small Business Cashflow Loan Scheme, overseen by Inland Revenue, to help businesses struggling because of Covid-19. "The BGF model is a particular type of private equity fund that pools bank capital to create a fund of scale.

Source: Stuff March 09, 2023 19:07 UTC