Capability Development Vouchers
If you or any of your team need to upskill as part of your aspiration to grow, we are here to help.
With each step you take in starting or growing your business your skills may need to grow too. The Business Advisors here at Northland Inc will create a personalised business action plan with you. This may include a range of training options from short courses to one-on-one coaching programmes in Northland or elsewhere.
Capability Development Voucher funding helps business owners access business training and coaching services, by providing them with up to 50% subsidy towards the registered service cost. Before committing to a course of action you will have the opportunity to meet with the training providers directly. Your Business Advisor will help you weigh up your options, and will follow up with you to ensure you are getting the help you need to grow your business.
Growing your skills
Benefits of Capability Development
→ Develop new skills and knowledge in-house
→ Empower managers and leaders within your business
→ Build confidence
→ Build a strong team to support growth
→ Develop a culture of learning
What you need to know
What are the steps?
To access this co-funding you must first meet with one of our team to discuss your business.
- Register online and one of our team will be in touch to arrange a time to meet in person.
- Meet with our Growth Advisor so we can understand the opportunities for growth and help identify any barriers to this.
- We will then work with you to put together an action plan.
- Where there is a management capability need identified that could be addressed by undertaking training, we may issue a Capability Voucher to the business.
Am I eligible for a voucher?
Any business can meet with a Growth Adviser. However to access co-funding for registered training enterprises must also meet the following criteria:
- Have undergone an discovery session with a one of our Business Growth Advisors
- Be able to demonstrate both willingness and capacity to grow
- Have developed an action plan together with your Business Growth Advisor.
- Have fewer than 50 full time equivalent employees;
- Be registered for GST in New Zealand
- Operating in a commercial environment
- Are a privately owned businesses, or are a Maori Trust or incorporation under the Te Ture Whenua Maori Act 1993 or similar organisation managing Maori assets under multiple ownership.
Your Business Advisor will be able to talk you through the criteria for voucher funding, and will generally be able to confirm whether your business is eligible right from the outset, so you can plan your training budget.
What is the voucher worth?
Vouchers may be used to help pay up to 50% percent of the cost of services (up to a maximum value of $5,000 excluding GST) from registered providers that improve management capabilities.
The value of the voucher will vary dependent upon the value of the coaching and action plan agreed to between you and the business advisor. There are no limits on the number of vouchers that can be issued to any one company, however the total value of the vouchers may not exceed $5,000 per year (1 July - 30 June).
A company may apply each year for a voucher, however a review of the previous coaching will be undertaken to see how this has made a difference to the business. The business advisor will reassess the business and alignment to the agreed action plan and if necessary a new action plan will be developed.
What areas of my business can I get coaching for?
There are a number of areas within your business that you can get assistance with, here are the general categories:
- Business Planning
- Business Systems
- Lean Manufacturing/Business Operations
- Managing Resources
- Marketing Strategies
For more details, speak to one of our team.
Who are the business coaches?
Business coaching and training is provided by local and national service providers. They are required to register their services and be accepted into the program. Our team has a list of local providers and also national providers that are active in our region. You may already know of a service provider and already be working with them, this is often the case with accountancy firms.
Once registered and working with a Business Growth Advisor you will be able to see the full list of services provided in the "marketplace", from here you will be able to select a few providers to speak with and explore if they are the right fix for your business and needs. If you have no idea don't worry our team is here to help guide you so you get the best result out of your investment.
How long do I have to use the voucher?
You have one month from the time the voucher is issued to your business to "allocate" it to a training or coaching service provider. Once allocated you then have up to 12 months to undertake the training or coaching.
Can I use the voucher to train staff?
Vouchers are used for the development of management capabilities it is not general staff training. Therefore vouchers maybe used for;
- Sole traders
- Business partners
- CEO's and Senior Management Team
- Team Leaders
You may find that as your business grows so does your team and this results in team members being promoted or new teams being created with new management roles. If your staff have recently moved into a team leader or management role and need to develop their skills to support them in this new position then this may be a great tool to support your business.