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Speaker 1: To Labour's Future Fund idea two hundred million dollars in

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Speaker 1: seed funding from US taxpayers fund managed by the Guardians

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Speaker 1: of the super State owned companies' assets will be transferred

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Speaker 1: to the fund, dividends used to invest in Kiwi businesses.

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Speaker 1: Very light on detail at this point, but we're going

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Speaker 1: to Adrian Bigbie, who's managing director of prosper in zed Adrian,

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Speaker 1: good morning, Good morning, Ryan, Good to have you on

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Speaker 1: the show. So you help small businesses get funding. What

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Speaker 1: do you think of this?

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Speaker 2: I think it's great to see. It's great to see

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Speaker 2: someone actually stepping forward for Kiwi businesses. Key businesses are

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Speaker 2: the backbone of our whole economy, so it's great to

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Speaker 2: say someone eh to come up with something that could

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Speaker 2: be potentially very good for them.

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Speaker 1: Do we know Do you even know whether any of

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Speaker 1: the businesses you work with would be eligible at this

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Speaker 1: point or is it so light on detail you can't tell.

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Speaker 2: Yes, it's the eligibility that's the question, isn't it. Ryan.

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Speaker 2: I think it's light on detail, but hopefully there is

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Speaker 2: still that more comes from it. A couple of things

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Speaker 2: that they've cited though, talking about high tech startups and

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Speaker 2: community renewable energy. So you wonder how many small you know,

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Speaker 2: really small businesses that would be a focus for them.

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Speaker 2: If you're talking about a headdresser or you're talking about mum, dad, plumber,

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Speaker 2: so cafe, that they're not really focused on those areas.

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Speaker 2: So does that actually already point to a larger sized

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Speaker 2: business not a small business.

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Speaker 1: We have a three hundred to four hundred million dollar

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Speaker 1: Elevate Fund already which is run by the Guardians of

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Speaker 1: Indeed super I was reading about it last night. Is

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Speaker 1: that not exactly what we're talking about.

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Speaker 2: It's very similar and there are other things around there.

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Speaker 2: There's research and development funds that they can also access,

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Speaker 2: so there's other things. But small businesses are very underserved

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Speaker 2: and the mu Zealand community and the financial community, so

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Speaker 2: that's why prosper pub businesses like us are here to

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Speaker 2: help those businesses. So major banks are they really do

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Speaker 2: struggle to lend people without a security so without a house,

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Speaker 2: and that's really to get into their businesses and to

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Speaker 2: help them grow. So hopefully this fund actually does give

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Speaker 2: some investment, so so different investment that can help these

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Speaker 2: businesses to grow and real you know, helped spark up

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Speaker 2: new Zealand. As we were talking about those growth numbers before.

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Speaker 1: Adrian, when we're talking about you know, the borrowing and

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Speaker 1: then the success rate of a company, how many of

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Speaker 1: them flop? Realistically, I think.

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Speaker 2: It's very high percentage of businesses that flop terrible words,

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Speaker 2: maybe not survived and their person you know, in their

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Speaker 2: initial years. But we I mean pus ory a line.

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Speaker 2: So we that's what we do. We lend small businesses.

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Speaker 2: So we are the Kent Canary in the mind. We

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Speaker 2: can see what's happening in the economy and our portfolio,

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Speaker 2: our customers are performing very well. So a lot of

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Speaker 2: our use of funds we talk about it, so a

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Speaker 2: lot of our use of funds is for growth, is

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Speaker 2: for darting, is for marketing, is for extra stock. So

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Speaker 2: that's people that are that are getting ready for this

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Speaker 2: specic area that we're about to come into. So our

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Speaker 2: portfolio is performing very well and our customers are so

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Speaker 2: that's actually really good to see.

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Speaker 1: Adrian. Appreciate your time this morning. Adrian Bigbe, Managing director

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Speaker 1: of prosper n Z. For more from Early Edition with

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Speaker 1: Ryan Bridge, listen live to news talks that be from

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Speaker 1: five am weekdays or follow the podcast on iHeartRadio,