Online analysis push for small biz

Last updated 17:14 10/07/2014

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Some of New Zealand's biggest brands have combined to develop an online market analysis service for small businesses.

The group, which includes Westpac, Xero, 2 Degrees and New Zealand Post, will also make up to $1 million in grants to users of the service each year.

Technology entrepreneur Christina Domecq, who heads former New Zealand Post subsidiary Localist, yesterday launched Ora, a free online software market analysis tool for small and medium-sized businesses.

Domecq said Ora would provide businesses with live information on their market, competitor, customer and accounting information.

It does this by combining the technology of the partner companies.

 The service also helps businesses develop a 12-month plan, identify which media channels provide the greatest return on investment and shows what people are saying about a business on social media.

In a marketing stunt, Ora would give away ten $50,000 business grants this year.

However, that would increase to between $700,000 and $1m a year next year with contributions from its partners, Domecq said.

Any business using the Ora service could apply for the grants, but the money must be used to buy marketing, IT and financial services provided by the partners.

Growth of the chosen businesses and the projects they put the funds towards will be tracked on Ora.

Ora is owned by Foundry which bought Localist four months ago.

Domecq has been involved in 20 different businesses either as a founder, director or owner.

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- Fairfax Media

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