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LETS GET DOWN TO BUSINESS.

Question :
What financial support is avail for me other than winz as I hv 2 businesses

Question submitted 26/03/20 @ 01:37pm
Industry: Funding & Finance
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  • Hey Moana – there are a few places – here is the Government page – https://covid19.govt.nz/help-and-advice/for-businesses-and-organisations/employers/ that talks about the options as an employer from ‘wage subsidies for your staff and you’ if you keep people on for lump sum payments for appox. $300 per week for part-time and $585 per week for full timers – for a max of 12 weeks – there are also provisions for people who are isolating from your team – then there are also some provisions around loans, guarantees – there are some conditions ie you need to prove you are 30% down year on year or since Jan-March of this year – hope that helps – Andy

    Hi Moana, in case you are running your two businesses as a sole-trader, a quick follow up to Andy’s note to confirm you could be eligible for the ‘wage’ subsidy through WINZ. You don’t have to be an employer. The 30% reduction test would apply to your self-employed earnings with no requirements around payments to employees. Detail around the Government’s finance guarantee scheme isn’t out yet, but the announcement indicated application to businesses with a turnover of more than $250,000

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