We are sure that you are all feeling the disappointment, as we are, that we are back to level 3. We know that these new restrictions will have a major impact on some of our clients and how you are able to conduct your day to day business. Please do reach out if you are worried and need to sound out some issues. We are all back working from home but otherwise it is business as usual for us.
A reminder that there still are a number of support packages the Government still has available to you if you haven’t already taken advantage of these.
- Short-term Absence Payment, this new COVID-19 Short-term Absence Payment became available from 9am on 9 February 2021. It’s to help businesses keep paying eligible workers who are unable to work from home and; need to miss work to stay at home while waiting on a COVID-19 test result. This payment is a one-off payment of $350 for each eligible worker, and is available to self-employed workers. Parents or caregivers who need to miss work to support their dependents who are staying at home awaiting a test result are also eligible. Should you need to, you can apply here.
- Leave Support Scheme, Should you have an employee who has been directed by the Ministry of Health to stay home and isolate but is unable to work from home. You may be eligible to apply for the Leave Support Scheme, this is a lump sum payment much like the wage subsidy ($585.80 for people who were working 20 hours or more per week (full-time rate) & $350.00 for people who were working less than 20 hours per week (part-time rate). This is paid as a lump sum, calculated to cover 2 weeks. You can re-apply after this time if your employees still qualify.
- Small Business Cashflow Scheme, has been extended until 2023. Eligible businesses and organisations are entitled to a one-off loan up to $100,000. The maximum amount loaned is $10,000 plus $1,800 per full-time-equivalent employee.
- COVID-19 commercial lease dispute services, if commercial tenants and landlords of small-to-medium businesses have not been able to agree about rent arrangements during a lockdown period (Alert Levels 3 and 4), they can use the COVID-19 commercial lease dispute services to try to reach an agreement acceptable to both parties. The services are arbitration and mediation services to resolve commercial lease disputes due to COVID-19. Arbitration services will be subsidised up to $6,000 for each dispute. Mediation services will be fully funded, up to a value of $4,000 for each dispute. These services are available until 31 March 2021.
In addition to the above we have assisted a number of clients with restructuring their lending to use the Business Finance Guarantee Scheme. This has resulted in substantially lower interest rates, sub 2%. The flow on effect is a positive change in cashflow.
Should you need any help checking if you are eligible for the above or need assistance with the application process, please call your usual Greenlion advisor who will be happy to help.
We’re here to help
The uncertainty and rapidly changing nature of this pandemic means we need to think on our feet while still making sound decisions. At Greenlion we are here to help you, whether it’s acting as a sounding board, formulating funding requests for the bank or reviewing and implementing systems to allow staff to work at home. Please call us if you would like to talk.