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LETS GET DOWN TO BUSINESS.

Question :
. I am seeking advice and assistance. I am an independent fitness centre owner who is still required to stay closed in level 3. I have a difficult decision to make, if to close my business indefinitely. I have reviewed the short and long term financial projections of the company and due to a prolonged lockdown it seems to be not feasible for the business to stay trading..i have applied for the wage subsidy, which has been helpful. Can you inform me if there is any subsidy or assistance for the lease rent and other overheads. I have only been in business for a year, and made no profit in the first year of trading. I do not wish to take out a loan as I will not have the means to pay it back. My market research indicates that clients are very hesitant and fear spread of infection, this has now produce a substantial decline in membership and for the foreseeable future. The UK are not allowing gyms to reopen until September as they are deemed one of the worst places to spread the virus. And this has been reflected in my clients feedback.please can you advise what financial assistance is available to enable me to stay afloat.

Question submitted 07/05/20 @ 01:39pm
Industry: COVID-19 Funding & Support
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  • Hi there – tough, I am sorry. There was some update around the alert levels today – check those out here – https://covid19.govt.nz/businesses-and-employees/businesses-and-services/

    At this point, beyond the wage subsidy, and the small business loan, there are not too many other support schemes or financial assistance – there are new provisions around tenancies, but that is more protection if you can’t pay or the landlord wants to raise the rent – they can’t kick you out straight away for non-payment.

    But to you point, I am not aware of current financial assistance for rent, or other overheads.

    Sometimes you have to make the tough calls when you look at all of the facts – and if you can’t see it makes sense to stay open, then that may be a serious option for you to pursue.

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