In these trying circumstances, due to COVID-19, business owners will be faced with a number of issues:
- How do I control cash flow now?
- What about future cash flow?
- Where will working capital come from?
- How do I look after my employees?
- Will I have a business after the COVID-19 lockdown has finished and we can resume life outside our bubble?
Businesses are likely to experience or have experienced some form of disruption to their business-as-usual operations due the various lockdowns we have been experiencing.
Currently Auckland is under Level 3 lockdown until 26 August 2020 and the rest of the country is under Level 2. The details of which business can and can’t trade at Level 3 can be found at the COVID-19 website here.
Worksafe expects that staff will take care of their own health and safety and the health and safety of others while at work. This means following and co-operating with any reasonable health and safety instructions, policies and procedures they are given.
It is recommended that you view the implementation and enforcement of any Safe Practice Protocols through this health and safety lens. As you will already have practices in place, this will make it easier to explain the importance of the measures to staff and handle any subsequent issues.
Attached is a checklist which has been developed to support business leaders and senior management teams to complete on their readiness to return back to the workplace and resume under Alert Level 3 and Level 2. The checklist is designed to cover business and logistics issues as well as health and safety issues.
Up to date information regarding the the government response to COVID-19 can be found at the Beehive website here.
Business owners need to consider what business life will be like when we return to normal – that is of course if we will have a normal or will our economy recalibrate and our idea of business as usual will have changed significantly?
The following links to our article discussing – Will I have a business after the COVID-19 lockdown has finished and we can resume life outside our bubble?
We would like to offer help to any business owner who is asking these questions. It doesn’t matter if you are a client or not, we must all pull together to help each other out. If you are not sure where to start and or know what you need but are looking for more guidance, please feel free to call or email one of our partners and we will do our level best to help you.
COVID-19
Currently business owners and operators may be experiencing financial issues relating to the COVID-19 Level 3 or 4 Status. These may impact their ability to meet regular financial obligations, including rent, loan repayments and wages/salaries.
The government has recognized that COVID-19 Level 3 or 4 status will have a significant impact on the financial well being of many business, large and small.
To help provide some form of financial support, the government has implemented a number of initiatives:
Wage Subsidy Extension and Resurgence Wage Subsidy
Tax Changes to Support Businesses
COVID-19 Small Business Loans Cash Flow Scheme (SBCS)
Back to the Workplace Checklist
For more information on the above or if you have any queries regarding how COVID-19 will affect your business or how to lodge a claim please contact one of our partners to assist you with the application or your queries.
