The Small Business Entrepreneur Scheme offers selected students a platform to outwork their entrepreneurial knowledge. A seed fund* and comprehensive mentoring will help materialise the business opportunity.
Graduates of New Zealand Certificate in Business Level 4 can apply for the Scheme within six months of course completion. A maximum of two business plans per calendar year will be funded.
Aspiring students will submit a business plan to the scheme’s committee for consideration. Selected students will have four weeks to complete their business plan. Consultation sessions and one-on-one mentoring will be provided. The Business Plan must be feasible, detailed and comprehensive.
*The Seed Fund is an investment in a Kiwi Entrepreneur’s business. As an investor and shareholder Crown will receive dividends for a determined period and under defined conditions.
A maximum $20,000 will be invested. The total investment will not exceed 20% of total shares of the Entrepreneur’s business
After the first 12 months, if the business is profitable, Crown will start to receive its share of dividends from the business, which is a maximum 20% of profits.
Crown is eligible to receive up to 150% of the invested seed fund. After this threshold is reached, Crown will cease to receive any further share dividends from the business, and will no longer be considered a shareholder of the business.
If the business is not making a profit or closes down, the Entrepreneur will not be held to any obligation to return the seed fund.
While Crown’s intention is not to profit from the Scheme, it is important that the Seed Funded business be self-sustaining.