Government Business Continuity Plan

On March 17, 2020 the New Zealand government announced a Business Continuity Package designed to provide immediate relief to tourism operators facing a devastating downturn in the midst of this crisis.

 

KEY POINTS:

  • This funding will be available to operators in all regions without delay - the government has indicated that payments may be possible within five days
  • The wage subsidies will be available for businesses that can show a 30% decline in revenue for any month between January and June 2020 compared to the year before (including projected revenue)
  • There is a $150,000 cap to the payment of $585 per full-time employee for 12 weeks, which should allow for approximately 20 staff to be subsidised
  • Tailormade packages are being made to larger businesses. Please contact Work and Income immediately to explore what options are available to you
  • While the package does not currently include business loans, the government has indicated it will hold further discussions with banks around access to capital for businesses
  • Download the wage subsidy factsheet here

 

TO QUALIFY:

  • your business must be registered and operating in New Zealand
  • your employees must be legally working in New Zealand
  • the business must have experienced a minimum 30% decline in actual or predicted revenue over the period of a month when compared with the same month last year, and that decline is related to COVID-19
  • your business must have taken active steps to mitigate the impact of COVID-19
  • you must make best efforts to retain employees and pay them a minimum of 80% of their normal income for the subsidised period.
  • More information on the qualifying definitions is available here.

Click here for information on how to apply.

For more information on the wage subsidy scheme and other support for businesses, please visit the NZ Government website and business.govt.nz