Reply To: I signed a commercial lease and formed the business on the 13 March. I was due to open 1 April. As this is a new business I am not eligible for the wage subsidy for myself or the small business help.  My partner works so we cannot get help from MSD. We have spent thousands setting the business up and still have the outgoings to pay.  Is there any assistance we can get?  The business is a drumming and percussion school. I would appreciate any advice. Thanks Jim. 


Hi Jim
I’m so sorry to hear this, it certainly is very disappointing timing. A few thoughts come to mind – I’m sure you will get more advice too from this wonderful forum:

1. Can you apply for the IRD interest free loan that was announced last week? Even if you could just get access to the initial $10k that might help you with continuing with your plans.

2. Are you able to leverage the mortgage holiday scheme (if you have a house) to give you a bit of cashflow?

3. Can you go ahead without your lease? I realise you just signed your agreement, but presumably there is an ability (due to unforseen circumstances) to get some sort of reasonable break from it? It would be worth negotiating to get out of it, and reduce your costs right now. Otherwise you are burdening your chances of success with costs that you can’t monetise for some time.

4. Can you proceed with your business, in an online model? Can someone learn the drums or percussion via a webinar, 1-1 video coaching, or could you set them assignments via video, and then coach them 1-1 on their progress? It would be great to think you didn’t have to ‘throw out’ all your plans that have gotten you this far – rather, think of ‘pivoting’ your plans into the new environment?

5. Timing in business is everything. It may be that this idea, isn’t right to launch now. So rather than thinking about pushing ahead as the only option, could you put it on hold, until the market has returned to more spending and mobility?

I hope this helps. Best wishes,

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