Below we have compiled up-to-date information from the New Zealand Government, Ministry of Health and MBIE

New Zealand's business support package

Yesterday the Government announced its business support package, noting it is one of the largest packages in the world on a per capita basis.

The $12.1 billion package includes:

• Initial $500 million boost for health

• $5.1 billion in wage subsidies for affected businesses in all sectors and regions, available from today. Businesses need to show a 30 percent decline in revenue for any month between January and June 2020 and applications can be made here.
• $126 million in COVID-19 leave and self-isolation support
• $2.8 billion income support package for our most vulnerable
• $100 million redeployment package
• $2.8 billion in business tax changes to free up cash flow
• $600 million initial aviation support package

For more detail on the business support package and Government factsheets, see here.

Staying well informed
Keeping reliably informed, understanding the symptoms of COVID-19, staying up to date with developments and making sure your business is as prepared as possible will help you make better decisions.

MBIE has collated some great resources for businesses here that we recommend reading through and bookmarking. This includes everything from health and travel guidance, to how to create a business continuity plan.

Taking care of wellbeing
We know that there's a growing need for mental health support in small businesses, and times of uncertainty can be particularly challenging. If you want talk about any issue you are currently experiencing, do pick up the phone. We are happy to chat.

Hamish & the Team at Coombe Smith (PN) Limited.