Business Development in the Cook Islands

The Business development team welcomes your inquiry, whether you are looking to start a business from scratch or whether you are an existing business looking to develop a new idea or keen to expand.

We offer a variety of services for new and existing small medium enterprises (SMEs) including the following:

1. Business Advisory services - Provide business advice, Business plan guidance, develop market plans, develop market profiles, Mentor guidance, Monitor & assist new and existing businesses   
2.  Business information & tools - Provide information on Government regulations and incentives when setting up a business, Business Toolkit assessments to determine areas of weaknesses and what needs to be done to address these, Funding options and access to business grants and schemes. 
3.  Business Training - Provide a range of business courses at various levels such as 'Start your business" (SYOB), Business Toolkits, "Planning your business", Cash flow projections, administration & marketing.     
4.  Focal point for SME development in the Cook Islands - We have wide networks with key stakeholders within the Cook Islands and within the region and continue to foster the development of small medium enterprises at all levels.

For further information on what being in business is all about please contact us at the Business Trade Investment Board. We look forward to hearing from you.  

Our Business Advisors 

has the responsibilities of developing, promoting and facilitating small business training workshops  for new or existing businesses in the Cook Islands. The objective is to develop and implement training programs specific to the needs of business clients. To provide a range of tools to assist businesses in the areas of funding, marketing, research, capacity building and technical assistance. 

Our  advisors also makes regular visits to the outer islands to help small cottage-type businesses develop and run efficiently. Assistance is given in areas such as marketing, basic financial book-keeping and costing of various products such as taro, mauke oil, arts, crafts ...etc. Though limited with resources, people of the outer islands have the ability to create products for sale. Our advisor is basically there to push these outer islands business enthusiasts in the right direction of business development. Ultimately, this will help with sustainability and growth in our economy.

Further, assistance is provided  for Cook Islanders with the development of business plans, which is a prerequisite for starting up any business and applying for a business loan. It is highly likely that the banks in the Cook Islands (Westpac, ANZ, Bank of the Cook Islands (BCI)) will decline a business loan application if a business plan is not provided. BTIB can assist clients finalize business plans in a format that qualifies for a business loan.

 

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The Outer Island Development Grant Fund (OIDFG) 

The purpose of OIDGF is to:

1.     Assist the Cook Islands with its economic base by stimulating private sector development in the outer Islands.

2.     Facilitate viable programs and proposals that can generate productivity, revenue and employment in the outer islands and the Cook Islands in general.

 3.     Provide opportunities for Cook Islanders in the outer islands as a means of reducing depopulation.

 OIDGF Vision

To create an environment that promotes economic development for the benefit an well being of all Cook Islanders with specific emphasis on the outer islands.

Priority Areas of Investment

Marine-based projects

Agriculture-based projects

Tourism ( other than tourism accomodation and lagoon cruises in Aitutaki)

Niche projects ( plumbers, roofers, mechanics... etc)

OIDGF Frequently Asked Questions  

Please refer to the checklist below: 

 Who can access OIDGF?

You must be a Cook Islander or Permanent residence status to be eligible for the fund.

Application Process

Your business venture must be conducted in the outer islands.

• You must submit a Business Plan 
• Provide two letters of support (either from a relevant government official, Island Mayor, Island Secretary, Member of Parliament or successful business person(s)
• Provide evidence of your 2/3rd contribution  (Example: land, assets, bank loan approval letter ).
• Submit an OIDGF Application Form
• Supply invoices of your OIDGF project

Important to read:

1. OIDGF criteria
2. OIDGF Funding Agreement

Contact

For further information regarding the outer island development grant fund please contact our  OIDGF officer:

Selina Napa

Phone: (682) 24 296

Fax: (682) 24 298

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Other Funding Programs

 The Markeing Support Fund (MSF)

The Marketing Support Fund was established to assist micro small and medium enterprises of the Forum Island Countries with limited financial resources and access to capital. The fund aims to assist these enterprises with an injection of direct financial assistance targeted at increasing market access, enhancing products to gain competitive edge and grow export potential and capability. These would be consistent with the Pacific Plan Pillar, Economic growth, which is defined as sustainable, pro-poor economic growth, and advocates among others, expansion of market for trade in goods under the trade agreements (SPARTECA, PICTA and PACER).

Application

MSF Guidelines

MSF application form

Quotes of your proposed projects as indicated within your application.

 Report 

Contact Us

For further information regarding business in the Cook Islands contact our executive manager:

Terry Rangi

Phone: (682) 24 296

Fax: (682) 24 298

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or Lydia Tararo-Marsh

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