Pathways to Entrepreneurship for Indigenous Peoples
Why Tolaga?
Our focus is on supporting Maori and indigenous entrepreneurs, in starting their own service businesses. With the collaboration between Tolaga Bay Innovation and Edmund Hillary Fellow ‘Scott Miller’, we provide seed loans and business wrap around support.
When we say “service businesses”, think painters, landscapers, massage therapists. Businesses that have “durable” demand. Consumers of the services view the service as non-discretionary. Not a luxury, but something the consumer needs for daily living. These types of service businesses have a higher success rate. Here’s a list of the service businesses we like.
Why service businesses? Most service businesses have inherent customer demand., which increases the odds of success. Show up on time, do good work, and odds are, you will be successful.
How it works
Evergreen Fund
Capital in the form of a 5% interest bearing loan. All payments go back to the evergreen fund, to be loaned back out to other entrepreneurs. The loan is used to purchase equipment and other tools of the trade.
Training & Support
A two day course on how to operate a successful service business. We cover all the business basics: finance, sales, marketing, and customer service. Entrepreneurs are connected with a bookkeeper to facilitate the production of monthly financial reports.
Mentoring
Our entrepreneurs meet quarterly with their Tolaga advisor. The meeting agenda includes review of financial results, current challenges, and opportunities. More frequent engagement can be arranged.
