Weekly Digest – 11 November 2020
Hello again – welcome to the latest edition of our Weekly Digest. Read on for the latest updates and some ideas that will help us all move forward.
NZ Set To Buy More of Pfizer’s Vaccine
Minister of Research, Science and Innovation Megan Woods said that the government is continuing talks to purchase more of Pfizer’s vaccine after news that it is 90% effective. The vaccine’s trial involving more than 40,000 people is still underway.
New Zealand initially secured a deal to buy 1.5 million doses in October.
Stock Market, Kiwi Dollar Boosted by COVID-19 Vaccine Hopes
The New Zealand dollar pushed on to a 20-month high and the local sharemarket soared to new records after news that Pfizer and BioNTech revealed a breakthrough in the race to find a COVID-19 vaccine.
The NZX-50 opened up by more than 2% on November 10.
$200K Up For Grabs For Kiwi Businesses Innovating In The Face Of COVID-19
ASB is calling on entrepreneurs across New Zealand to apply for one of four $50,000 grants to help them bring an innovative business idea to reality. The $200,000 grant pool is part of the ASB Backing Business series on TVNZ, which celebrates Kiwi businesses that have successfully pivoted amid the pandemic.
If you need help in considering your funding assistance options and your applications, get in touch with us today.
Online Māori Mall Launched to Help Small Māori Businesses
With the help of a $200,000 grant from Te Puni Kōkiri, the Hokohoko Māori Mall website was launched, along with business mentoring and networking as a key part of the initiative.
The goal was to get 100 Māori businesses on the platform with 500 products by June 2021. Currently, 60 businesses have already joined.
Managed Isolation Voucher System
Travellers to NZ must now have a managed isolation voucher to be allowed to board their flight to the country.
The system which went live on October 5 and applies to all arriving flights from November 3 was booking up fast for Christmas.
For more information on the Managed Isolation Voucher System, you may check this website.
New $40 Million COVID-19 Fund Opens
Te Tari Taiwhenua Department of Internal Affairs has announced that a new lottery fund worth $40 million has opened. The fund will provide one-off grants for community and social initiatives that will ensure that iwi, hapū and communities across New Zealand are safe and resilient following COVID-19.
This new fund is part of $178 million that has been allocated by the Lottery Grants Board this year to support community and social initiatives, marae, community facilities, heritage, environment activities, outdoor safety, health research and individuals with disabilities.
More details about applying for funding can be found on the Community Matters website. If you need help in assessing your eligibility or considering other funding options available to you, feel free to contact us.
Financial Help For Small Māori-owned Businesses Extended
The $10 million Māori Trustee Top-Up Small Business Cashflow Loan Scheme, which has paid almost $1 million to Māori-owned small and medium-sized enterprises, has been extended until 31 December 2020.
If you need assistance with your application or would like to take advantage of other financial help you are eligible for, contact us today so we can guide you in considering your options.
Remind Your Customers to Use NZ COVID Tracer App
Businesses are urged to remind customers to use the NZ COVID Tracer App. While this is not a silver bullet, the app is one of the tools that we can use for faster contact tracing and to prevent another wave of the virus.
As a business owner, you should take it as your responsibility to prompt your customers and remind them to scan the QR code displayed in your business premises.
Adapting Your Leadership Style in the Post-Pandemic World
COVID-19 has changed the business landscape now and for the foreseeable future. As a business leader, you need to adapt your leadership style and strategies accordingly to fit the new work environment in the post-pandemic world.
Below are four key things you can do to adapt your approach:
- Improve your emotional intelligence
These are difficult times for everyone. As your employees face new challenges, it is important for you to recognise these struggles and exercise empathy and flexibility.
- Foster trust and communication
Now, more than ever, business leaders must communicate to ensure staff are on board and they trust their leaders’ guidance. Keep your communication lines open, as well take time for one-on-one sessions and team discussions.
- Get your team members involved
Make your employees feel that they have a voice in the company. Involve them on company decisions, especially on matters that will concern them such as work arrangements.
- Keep an eye on the future
As we navigate the post-pandemic world, there will surely be more uncertainties ahead. Your role as a business leader is to be ready to quickly adapt to those future changes by staying on top of what’s gonna happen next.
Do you want to run your business better? Drop us a message so we can schedule a one-on-one consultation.
Free Business Advice for Auckland Businesses
Auckland Tourism, Events and Economic Development (ATEED) has supported thousands of businesses affected by COVID-19 this year by giving them access to fully funded expert advice amounting to $10 million.
If you haven’t connected with them, now is a good time to get consultancy services in areas such as HR, employee relations, legal, health and wellness, marketing strategy, digital enablement strategy and more.
Those who haven’t previously accessed support from the Regional Business Partner have to register on the RBP website first. You will need your GST number and NZBN number to do this. Meanwhile, Auckland businesses already registered can email the ATEED Business Helpdesk for their application, even if initial support from the COVID-19 Business Advisory Fund has been accessed.
If you would like to chat about your business, particularly on the financial side, please don’t hesitate to reach out to us. We can help you develop a plan for your specific situation.
Get in touch
Contact us if you have any questions or want to discuss the next steps for your business.