More small and medium-sized businesses may be eligible for the Business Finance Guarantee scheme, with a simplified and expanded scheme now in place. Participating banks can provide new loans, increased limits to existing loans or a revolving credit facility to eligible businesses. The scheme supports banks to take on lending by government taking on the default risk of up to 80% of the loan. Changes to the scheme mean the… Read more
In a pandemic world, setting up a strategy will guide your recovery and allow you to thrive.
While we are all planning our next steps as we rebuild our businesses, the Ministry of Social Development (MSD) have begun the mammoth task of auditing certain applications made under the wage subsidy scheme. This is an action that was signalled from very early on in the scheme. While the swift move into audit phase may seem harsh, the statistics that emerged regarding fraudulent claims on hardship grants after the… Read more
The Government has announced that the Small Business Cashflow Loan Scheme has been extended to the 31st December 2020 and can provide assistance of up to $100,000 to business’s employing 50 or fewer full time equivalent employees. The scheme is in the way of a loan from the government and will provide $10,000 to every firm and $1800 per equivalent full time employee. Loans will be interest free if they… Read more
As small business owners look to the future post COVID-19, there are some important questions to ask. These questions will help you determine what changes you want to keep, whether your business model is still working for you, and if there are any additional changes you may want to make to keep your company operational through future economic disruptions.It’s not always fun to do this sort of investigation, but… Read more
Beyond COVID-19 – How to build value in your business We’ve said it before and we’ll say it again – this has been an extremely difficult few months for all of us, but there is no better time to think seriously about your business. In this article, we have compiled a few tips to create value in your business. The key to building value in your business is to plan… Read more
If you’re a small business owner whose company hasn’t gone through hardtimes, that’s great but it’s likely to happen at some point. As much as wedream about being brilliant enough at business that we’ll never face slow times,there are many things beyond our control that can negatively affect our business. It’s highly likely that the Coronavirus and it’s resulting impacts, hasput some significant pressure on your business. Here are four… Read more
Prime Minister Jacinda Ardern has outlined what life will look under level 2, including details on retailing, hospitality, sport, education and travel, if Cabinet agrees to loosen lock down restrictions next week. No decision has been made to move to Level 2 just yet but the government is keen to do so sooner rather than later and it would be a phased approach. Businesses like retail outlets and hairdressers will… Read more
The Government has announced a boost to cashflow support for small businesses to aid in their recovery from the affects of Covid19. The Small Business Cashflow Loan Scheme will provide assistance of up to $100,000 to firms employing 50 or fewer full time equivalent employees. The scheme is in the way of a loan from the government and will provide $10,000 to every firm and $1800 per equivalent full time… Read more
The Government has announced that New Zealand can safely move out of Alert Level 4 lockdown at 11.59pm on Monday 27 April. We are still in Alert Level 4 until then. We will hold at Alert Level 3 for two weeks, before Cabinet reviews how we are tracking and makes further decisions on 11 May. The shift to Level 3 is not hugely different for a lot of people, but… Read more
With continuous media coverage, unverified stories on social media and uncertain outcomes, it’s common to feel overwhelmed and worried about your’s, or your family’s health and wellbeing. While these feelings are understandable, if they start to interfere with your everyday life, you may be experiencing health anxiety. What is health anxiety? Health anxiety is a mental health issue characterised by feelings of worry, anxiety or fear about your health and… Read more
Economic Response Package Finance Minister Grant Robertson today outlined a $12.1 billion package to support New Zealanders and their jobs from the global impact of COVID-19. The global economic impact of COVID-19 on New Zealand’s economy is going to be significant, so we are acting now to soften that impact. The $12.1 billion package is worth 4% of GDP, a larger plan than that implemented in response to the Global… Read more
Panic creates panic. Mass hysteria will not make it any better, so we all need to remain calm in the face of this virus and do our bit to ensure it is contained. If your business financials feel volatile, you’re not alone. We end up in the way we show up. Choose to be proactive and lead with a clear plan & communication. Here are some other ways business owners… Read more