Scheme extended
PA Masterton Companies with fixed assets up to $50,000, and annual sales of $150,000 are now eligible for Government assistance. The previous levels were fixed assets of $30,000, and annual sales of $lOO,OOO. The new levels for businesses eligible for assistance under the Small Projects Assistance Grants scheme, was reported by the Minister of National and Regional Development (Mr Gair) in Carterton.
The limit for qualifying investment had been increased from $20,000 to $30,000, with grants being made up to a maximum of 50 per cent of qualifying costs.
The maximum grant will now be $15,000 per project, which is up $5OOO on the previous maximum.
The Small Business Agency would not provide direct financial assistance, but may, in the course of counselling, refer small businesses to Regional Development Councils for help. The grants scheme applies mainly to businesses in towns with a population of fewer than 10,000, but also includes Gisborne and Invercargill.
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Press, 29 July 1978, Page 19
Word Count
156Scheme extended Press, 29 July 1978, Page 19
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