Keeping your business on top of Covid-19 – what you need to know

Keeping your business on top of Covid-19 – what you need to know

There’s a wealth of tools to access to help businesses through the Level 2 period and beyond. Here’s a few key points that may be handy over the coming weeks:

  • The Government’s small business cash scheme (SBCS) is open until Friday 12 June. It’s been set up to support businesses that are doing it tough because of loss of actual or predicated revenue as a result of Covid-19. If you have 50 or fewer full-time equivalent employees, you could be entitled to a one-off loan.

    The maximum amount loaned is $10,000 plus $1,800 per FTE. For more information, check out the IRD’s dedicated SBCS page.
  • The threshold for provisional tax has been lifted to allow small businesses to defer their tax payments. This can reduce cashflow pressure and compliance costs. Talk to the IRD about how you can get some tax relief.
  • With New Zealand still in Level 2, contact tracing remains a requirement. And while things may be more relaxed when we reach Level 1, it’s good practice to keep this up. There’s a lot of helpful info out there to make these processes as easy as possible for businesses.

    Contact tracing means finding those who you or your clients may have been in contact with that much easier. All non-retail businesses must record details of all people’s movement on their premises. This includes all employees, visitors and customers. You must also keep people one metre apart, where practical.

    Contact tracing may be just as important when the Transtasman bubble opens up, which could happen as early as July.

    There are different ways you can set up a contact tracing register – including a paper register or using an app. If you have an existing booking system, you may be able to use that to meet the record-keeping requirements, saving everyone time and inconvenience.

    If you do use a paper register, get one of your team to fill it in for visitors or workers, so only one person is touching the pen and paper. The other option is to sanitise the pen after every use and ask people to sanitise their hands before and after writing down their details.

    Security of people’s details is important too. This and many more tools include a printable contact tracing form for non-retail businesses can be found here.
  • Remember too that it’s completely normal to feel anxious or stressed about Covid-19. Your emotional and mental wellbeing is important. There are lots of things you can do to feel better – check out some useful tips here.

For the all latest business info and details on what you may be eligible for, head to the Government’s information for businesses pages – it’s a one-stop shop for all the key updates.

For a confidential conversation about your insurance program, contact one of our members today.

General Advice Warning
The information provided is to be regarded as general advice. Whilst we may have collected risk information, your personal objectives, needs or financial situations were not taken into account when preparing this information. We recommend that you consider the suitability of this general advice, in respect of your objectives, financial situation and needs before acting on it. You should obtain and consider the relevant product disclosure statement before making any decision to purchase this financial product.

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