COVID-19 Business assistance.
If you need any assistance or clarification on how to access support, or would like to talk with one of DWC’s Capability and Growth Advisors, we are here to help.
Funded advice and support available to West Coast businesses.
Eligible West Coast businesses will be able to access funds to put towards a range of approved support services thanks to the Regional Business Partner (RBP) COVID-19 Advisory Funding. The fund will be administered locally by DWC.
Businesses will be able to access the fund pay for one-on-one advice and support in the following areas:
- Health and wellness
- Business continuity planning
- Finance and cashflow management
To be eligible for funding businesses will need to meet the following criteria:
- Have fewer than 50 full time equivalent employees
- Be registered for GST in New Zealand
- Be operating in a commercial environment
- Be a privately owned businesses, or a Maori Trust or incorporation under the Te Ture Whenua Maori Act 1993 or similar organisation managing Maori assets under multiple ownership.
If your business meets the above criteria and you wish to apply for the RBP Covid-19 Advisory Fund your next step is to arrange an assessment a DWC Growth Advisor. Funding will be at the discretion of the Growth Advisors with the aim to provide funds to as many eligible businesses as possible.
DWC Delivery Rebate Scheme.
If you are a SME on the West Coast offering deliveries in Level 3, you may be eligible to receive a $5 rebate per delivery from Development West Coast, up to a maximum of $250 per establishment, to help offset some of the costs associated with running your own delivery service or using an established delivery/courier service.
We may not be able to hold our usual workshops and events during the lock down, but we will keep you posted with upcoming virtual events which have been specifically designed to support business through the impact of COVID-19.
Wage Subsidy and Leave Schemes
The Wage Subsidy Scheme supports employers adversely affected by COVID-19. The scheme helps employers and their staff to maintain an employment connection and ensure an income for affected employees, even if the employee is unable to actually work any hours. It is also available to sole traders and contractors.
Business Finance Guarantee Scheme
Small and medium-sized businesses may be eligible for the Business Finance Guarantee Scheme to protect jobs and support the economy. The Crown in partnership with participating approved banks will support targeted new loans (including increases to existing limits) to eligible businesses, as a response to difficulties caused by COVID-19.
Business cash flow and tax measures
The government has implemented measures to support business cash flow and tax measures.
Small Business Cashflow Loan Scheme
Inland Revenue will provide interest-free loans for a year to small businesses impacted by the COVID-19 economic shock.
The Small Business Cashflow Loan Scheme will provide assistance of up to $100,000 to firms employing 50 or fewer full-time equivalent employees.
Loans will be interest-free if they are paid back within a year. The interest rate will be 3% for a maximum term of five years. Repayments are not required for the first two years.
Applications will open on 12 May and be managed by Inland Revenue.
Support for Māori communities and businesses
Māori communities and businesses can access help tailored to meet the specific needs of Māori in the face of COVID-19. These include:
- A Whānau Māori Community and Mārae package reprioritising $10 million from the Māori Development vote to support community outreach
- Māori Health and Whānau Ora response with $30 million targeted directly to Māori Health services and an extra $15 million to Whānau Ora commissioning agencies
- supporting Māori Businesses and engaging with Māori with $1 million of funding to enable a needs assessment for Māori businesses, and $470,000 to Te Arawhiti to engage and work with iwi on their COVID-19 pandemic response plans.
Insolvency relief for companies impacted by COVID-19
New legislation is underway to help companies facing insolvency due to COVID-19 to remain viable. Companies Office has more information about the changes.
|Doing business during COVID-19.|