Newsletter – 30 November 2021

The last hurrah:
Yesterday the government announced the wrap-up of financial support for business as we move out of Alert Level 3 and in to the new traffic light system.

What you need to know is:

The final round of wages subsidies and resurgence support payments which opened Friday last week, will still be available as before.

Then on 10 December, a final one-off payment will be available to eligible businesses, under the Resurgence Support Payment scheme.
– The rate is: $4,000 per business
– Plus $400 for each employee (full time equivalent)
– (don’t forget GST will come off this)
To be eligible, a business has to show their revenue (turnover) was at least 30% down between October 3 and November 9, compared with a typical week in the 6 weeks prior to August 17.

This is it for now. The traffic light system will be monitored, and early in 2022 the government will look at any further recommendations for support.  If made available (and we suspect that is a very big “if”, any future support for business would only apply at red.

Funds available for business planning and personal assistance:
Last year, a number of clients applied for funding for professional services including accounting, to assist with business planning.  Tomorrow a new fund, called Activate Tamaki Makaurau, opens.

We strongly urge business clients to take advantage of this, and apply for funds.  You are welcome to contact us for assistance with applying.

The fund has 4 areas:
Business advice
This covers financial planning, cashflow management, business management, continuity and strategy, marketing and digital media planning.  We offer services in all except the last two.  Funds are available up to $3,000.

Implementation grant
Up to $4,000 available to implement your financial or marketing plan.  We also offer services under this area.

Health and Wellbeing support
A package called First Steps provides access to health and wellbeing support for business owners who may be overwhelmed, isolated and under pressure due to the mental and emotional impact of the current climate.
Also see the below heading regarding further mental health assistance.

Business Community Resources
Free tools and resources are available to assist with operation under the framework, vaccinations, and returning to work safely.


And further mental health assistance:
If you are seeking assistance for staff or family who need access to mental health support, they are able to contact the free Xero service.  This is available even to businesses which do not hold a Xero subscription.

To access this, the business owner has to message with the name of the business, and you will be sent instructions on how to access the service.
In Xero’s own words: “It’s free and 100 percent confidential.  It’s run through the world-leading wellbeing provider, Benestar, offering access to three telephone, live chat, or online professional counselling sessions.”

These are trying times, and we are here to support you in bad times as well as good.  Please contact Barbara or your usual accountant as needed.