COVID-19 - Help for Businesses

Cash flow support for small businesses

Government has announced it will provide loans to small businesses impacted by COVID-19 to support their cash flow needs. The Small business cash flow loan scheme will provide assistance of up to $100,000 to businesses employing 50 or fewer full-time equivalent employees.

Details of the loans include:

  • $10,000 to be provided to every business
  • an additional $1800 per equivalent full-time employee
  • interest free if the loans are paid back within a year
  • an interest rate of 3% for a maximum term of five years
  • repayments not required for the first two years.

The full announcement can be found here

New tax and business support

Government announced a further set of tax proposals to help businesses manage the impacts of COVID-19. These include:

  • greater flexibility for taxpayers in respect to tax deadlines
  • changes to the tax loss continuity rules
  • a tax loss carry-back scheme.

An updated announcement about upcoming tax changes was made on 30 April 2020. You can read the full announcement here

More information on support available for business can be found here www.business.govt.nz/covid-19/

www.covid19.govt.nz

This website has everything you need to know about COVID-19 in one place. Learn the simple steps you can take to unite against the virus and slow its spread. Find out what help is available and get the latest updates how to safely operate at Level 3 here.

Tourism Industry Aotearoa

TIA has a number of resources that it is making available to members and the wider industry through this unprecedented event.
The latest updates on what they are doing and the resources available can be found here.

Te Waka

As part of the Government to response to COVID-19 they announced a $4million regional support package for SMEs which will be delivered using the Regional Business Partners Network.
Te Waka’s Business Growth Team will deliver this programme for the region with the support of the service provider network, regional organisations and district councils.

For more information or to make a time to speak to a business advisor, visit the Te Waka here.

New support centre will buffer Waikato businesses

The new service is part of cohesive and growing efforts by our region’s community to support businesses hit hard by COVID-19 Alert Level 4 and the lockdown period. It also enables us to focus on crucial business recovery beyond lockdown. Waikato Business Support will provide an effective way to connect businesses to local and national government support resources. I am confident it will also reassure business owners that help and resources are available to help them navigate their way through this uncertain time.

Read more about the Waikato Business Support initiative here or visit the website

Hamilton & Waikato Tourism

HWT have been working behind the scenes during this time, lending our support to industry where needed, collaborating with stakeholders, neighbouring regions and national organisations and networks, while also planning for a post-COVID destination.

We are connecting with local industry on a regularly basis, whether that’s via our e-newsletter, webinars, zoom meetings, phone calls and emails.

The team is available to you any time during business hours so please do get in touch if you need any support, information or advice. We are here to help!

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This page was last updated on 12 May at 1.05pm