Weekly Digest – 16 June 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Four New Auckland Vaccination Centres to Open

Four new community vaccination centres in Albany, Tāmaki, Pukekohe, and Takanini will open by the end of June, increasing the total number of vaccination centres in Auckland to 12. This is to support the vaccine rollout to group 3, which includes people aged 65 and over, as well as other at-risk groups.

More than 110,000 people 65 years old and above living in Auckland will receive an invitation via text or email to book their vaccination by 18 June (Friday). The remaining invitations to group 3 will be issued by mid-July.

NZ-Victoria Travel Bubble Pause Extended

New Zealand’s quarantine-free travel bubble with Victoria was originally scheduled to resume on 10 June, but public health officials recommended extending the pause for another week. Although most of the cases in Melbourne are linked to overseas, there are at least three cases where a link has not been identified. This means community transmission in Victoria is possible.

NZ’s precautionary approach in continuing the travel bubble pause will be reviewed again this week.

Stock Exchange for Smaller Companies

A new stock exchange for smaller companies has been granted permission to launch.

Catalist is the only licensed stock exchange in New Zealand designed for small- and medium-sized businesses with an initial value of $6 million to $60 million. It had been given a licence to open from 21 June, and is intended to fill the gap in the country’s capital markets. They’re aiming to get up to 200 companies in the first five years.

This could be a stepping stone for SMEs, and Catalist said it will assist these businesses in transitioning to a more traditional stock exchange when they reach an appropriate size. Get in touch with us if you have any questions.

Training Incentive Allowance to Support 16,000 Kiwis

The government is bringing back the Training Incentive Allowance to support 16,000 New Zealanders to retrain and gain higher skills. An investment of $127 million will be given over four years from the COVID-19 Recovery and Response Fund to reinstate this program.

Business Finance Guarantee Scheme

Business Finance Guarantee loans can help small and medium businesses access credit for cash flow, capital assets and projects related to, responding to, or recovering from the impacts of COVID-19.

Applications for Business Finance Guarantee loans are open until 30 June 2021. If you need help or have any questions, don’t hesitate to drop us a message.

Free Online Digital Training and Support Tool

DigitalBoost.co.nz is a free training and support service to help businesses develop their digital capabilities. This includes providing support on cybersecurity and fraud prevention.

Get in touch with us if you need help with your business.

Short-term Absence Payment

This is available for businesses, including self-employed people, to help pay employees who cannot work from home while they wait at home for a COVID-19 test result. This is a one-off payment of $350. You can find the details here.

Leave Support Scheme

The Leave Support Scheme is available for businesses, including self-employed people, to help pay their workers who can’t work from home and meet certain health criteria, eg they have COVID-19 or are a ‘close contact’ who has been told to self-isolate for 14 days.

The Leave Support Scheme is paid as a 2-week lump sum per eligible employee.

The Leave Support Scheme is paid at a flat rate of:

  • $585.80 a week for full-time workers who were working 20 hours or more a week
  • $350 a week for part-time workers who were working less than 20 hours a week.

Find out more about the Leave Support Scheme here.

Small Business Cashflow Scheme Extended Until 2023

The Small Business Cashflow (loan) Scheme has been extended until 31 December 2023.

Organisations and small to medium businesses, including sole traders and the self-employed, may be eligible for a one-off loan with a term of 5 years if they have been adversely affected by COVID-19.

The maximum amount loaned is $10,000 plus $1,800 per full-time-equivalent employee. The annual interest rate will be 3% beginning from the date of the loan being provided. Interest will not be charged if the loan is fully paid back within 2 years.

You can find out more here, or simply get in touch with us so we can provide our professional assistance.

Kiwi Business Boost Tool

The Government has funded specialist consultancy support services to provide advice to businesses who need it. You can use the Kiwi Business Boost Tool to find out what services are available in your region.

The Treasury website’s COVID-19 Economic Response Measures can also provide more information on the range of supports available to businesses.

Eight Key Signs You Need To Hire Additional Support Staff

How do you work out when it’s time to bring on new team members? For busy business owners and those that are new to the game, it may not always be clear when it’s time to move beyond your core employees and get additional help.

In this Forbes article, a panel of Young Entrepreneur Council members share eight telling signs that you need more support staff. Below is an overview of the indicators you should look out for:

  • Your team hesitates to use time off
  • Employees complain of being too busy
  • Staff are behind on key responsibilities
  • KPIs and success rates begin to fall
  • Managers and employees lose focus
  • Overtime and errors spike
  • Customer service tickets pile up
  • Customers complain more frequently

Do you manage your own books? It’s best to focus on your core responsibilities as a business owner and get expert help for the financial side of your business. Book a consultation with us and let’s discuss how we can make your life easier.

Get in touch

Contact us if you have any questions or want to discuss the next steps for your business.

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