Empowering Young Kiwis' Economic Potential
More than 5,300 young Kiwis will benefit from new funding which invests in their business potential, develops enterprise skills, and better prepares them for their future work environment, Youth Minister James Meager has announced.
Mr Meager confirmed the $1.5 million Ministry of Youth Development (MYD) funding for 11 community-based providers, while speaking at the INVOLVE youth sector conference in Christchurch.
'The Government is focused on growing our economy for all New Zealanders, including our young entrepreneurs and emerging business leaders. This investment will enable promising young Kiwis to access financial support to develop essential skills like financial and digital literacy, learn how to create a business, and provide seed funding and mentoring to those with ones ready to grow,' Mr Meager says.
Three separate funds will support a range of programmes targeting different levels of youth enterprise experience, eligible for those between 12 and 24 years of age:
The Introduction to Enterprise Fund ($475,000 total per annum) supports programmes focusing on essential skill-building, including financial literacy, digital, problem-solving, and communication skills.
The Building Entrepreneurial Capital Fund ($725,000 total per annum) supports young people to acquire enterprise experiences and knowledge needed to create a business.
The Developing Youth-Led Businesses Fund ($300,000 total per annum) supports seed funding and mentoring to young people who have businesses that are ready to grow.
Among the 11 funding recipients is The King's Trust Aotearoa New Zealand. This will enable it to continue delivering its He Kākano programme, which has supported young entrepreneurs since 2022.
The He Kākano Impact Report, released today, highlighted the success of the pilot programme, which is a collaboration with MYD.
'Youth Enterprise is a powerful tool, supporting young people to discover their interests, build new skills, and work towards their future aspirations. It helps young people see themselves not just as job seekers, but as job creators and change-makers in their own communities,' Mr Meager says.
'The He Kākano report highlights the value of investment in Youth Enterprise, and the talents of our young Kiwis, showing that 93% of the youth-led businesses supported through this programme are still trading after 24 months.
'An investment in our young people is an investment in New Zealand's future. This funding will ensure the next generation of Kiwis are supported in developing their business, entrepreneurial and workplace skills to grow our economy.'
· A full breakdown of the funding recipients is attached here.
· Further information on the MYD funding for Youth Enterprise providers can be found at: https://www.myd.govt.nz/funding/current-funding.html
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