COVID-19 RESOURCES FOR BUSINESS
Page updated 15th May 2020 @ 7:23
We have put this page together for our clients so they have the resources they need in one place to help them and their business through this crisis and in particular the lock-down.
Sass is working 100% from home, and will continue to do so until we reach level one. Just a reminder to our clients, we are here to help you through this. Call us today if you need help. Call either your Account Manager or Accountant or if it's regarding HR, business continuity and cashflow forecasting contact Lisa - see below how you can get 100% funding.
Webinar - Business Resilience & Continuity Through COVID-19
Webinar - Understanding & Improve Your Cashflow Through COVID-19
Video from Lisa & Kelly, pre lock-down on what to do to get your business through Covid-19
If Your Business is On Lock-Down; Our Tips to Work on Your Business
If your business is in total lock-down, I would use some of this time to work on the future good of your business. Maybe, you have struggled to 'work on' your business and now you can. Ideas are:
Scoping & developing new products or services
Creating or updating your budget/cashflow
Website updates or planning
Learning a new skill
Researching ways to streamline your business and make more lean
Researching/learning new software to help streamline/automate your business
Start thinking more innovative and maybe anticipate the changes to your industry once we are on the other side
Of course, spend time with your family, but maybe continuing a work type routine would be good for everyone to help feel a little normal. If you are going to work from home, setup that routine and talk with your family so they are aware and to not interrupt you.
2020 Budget Highlights for You as a Business Owner
Click on the image below for more information
Great Software When Working From Home
Video Meetings - Zoom is great for this and free for up to 40 minute meetings - https://zoom.us/
Staff Group Chatting - If using Office365 you will have free use of Teams and is great for group chatting and even video chatting among the staff - https://teams.microsoft.com/downloads
Or, if you don't use Office365, then try out Slack as that is for free - https://slack.com/intl/en-nz/
Phone Scanning - If you need to scan documents from home, try out Office Lens - https://play.google.com/store/apps/details?id=com.microsoft.office.officelens&hl=en
Relevant Blogs - Wage Subsidy FAQs
Relevant Blogs - Other
Small Business Cashflow (loan) Scheme Link
Wage Subsidy Links
Wage Subsidy Extension - Information regarding the Wage Subsidy Extension, applications open from 10 June.
Here is the site to work through to see if you are eligible: https://www.workandincome.govt.nz/products/a-z-benefits/covid-19-support.html#null
Here is the site to work through to see if your essential workers are eligible: https://workandincome.govt.nz/products/a-z-benefits/covid-19-essential-workers-leave-support.html#eligibilitycriteria
Rules around Changing Your Staff's Employment Contracts - it is important you get this right
100% Government Funding on Cashflow Forecasting, HR Advice, Business Continuity, Marketing & Adopting Digital
If your business is affected by Covid-19, the government has allocated funding to the Regional Business Partners Network to help those businesses out. We have already had clients apply and approved for 100% funding to help in the above areas.
You can either ring Lisa first, DDI 928 4277, to discuss how we can help, then apply, or apply first. Details to apply for funding are or 021 330 923.
Further Help From the Government
These are additional changes that the government has made to help businesses (listed in a blog above too):
Giving Inland Revenue the discretion to remit use-of-money interest (UOMI) for customers significantly adversely affected by COVID-19.
Increasing the provisional tax threshold from $2,500 to $5,000 from 2020/2021. This is from April 2020, for the 2021 financial year.
Increasing the small asset depreciation threshold from $500 to $1,000 – and to $5,000 for the 2020/21 tax year.
Allowing depreciation on commercial and industrial buildings from 2020/2021.
Removing the hours test from the In-Work Tax Credit (IWTC) from 1 July 2020.
Banks will allow up to 6 months of a mortgage holiday. This is for both businesses and anyone with a mortgage, that is affected by Covid-19.
Businesses with turnover between $250,000 and $80 million per year, can apply for a loan of up to $500,000. Maximum of 3 years (the government will carry 80% of the risk, with the banks to carry 20%).
For point 6 and 7 each bank will develop their own packages. Please contact your bank manager.