Blog

Hello again – welcome to the latest edition of our Weekly Digest. Read on for this week’s update.

COVID-19 Outbreak

After 102 days without community transmission, we’ve all been a little shaken by the return of the coronavirus. According to health officials, COVID-19 may have been circulating in Auckland for weeks, as 13 new community cases were confirmed. All these are linked to the initial four cases announced last week.

We understand that this return to lockdown is unfortunate news for struggling businesses, especially in the retail and hospitality sector. However, there are ways by which you can cushion its impact. Feel free to get in touch so we can help you work out a plan on how to recover amid the COVID-19 pandemic.

Mentoring Scheme for Small- and Medium-Sized Businesses

The Regional Business Partner Network gives business owners access to advice and resources on business continuity planning, finance and cashflow management, HR issues, and sector-specific concerns amid the COVID-19 crisis. You can find more details in this article from Treasury. If you’re looking for ways to adapt your business, get in touch with us.

Business support schemes you might not have heard of

While you’ve probably heard about the wage subsidy and small business loans programs, there are other grants and schemes available to business owners that you might not have heard of. This article details 5 business support schemes that have gone under the radar including business debt hibernation and IRD penalty and interest relief. Ask us if you have any questions about what you’re eligible for and how to apply.

Government Loan Applications Extended

The Small Business Cash Flow Loan Scheme allows you to get financial assistance of up to $100,000 and an additional $1800 per equivalent full-time employee. Repayments are not required for the first two years, but if the loan is paid back within a year, there will be no interest.

The government has extended this loan until the end of the year. For those who haven’t applied for this government loan yet, you can check your eligibility here or you can get in touch with us so we can assist you with your application.

Application for Wage Subsidy Extension

Applications for the Wage Subsidy Extension are open until 1 September 2020. This initiative is aimed at supporting employers, including the self-employed, who have been significantly hit by COVID-19. Under this scheme, the wages of your employees will be covered over an 8-week period.

To be eligible for this financial support, your business must have had at least a 40% revenue loss for a continuous 30-day period in the last 40 days before the application. Eligible employers must also reapply for the Wage Subsidy Extension once their 12-week Wage Subsidy has ended. You can read through the guidelines and apply online here. If you have any questions about this program, contact us.

Useful Remote Work Tools to Boost Productivity

You’ve probably realised that working remotely is not without its challenges. Many people have adopted new strategies and habits to stay productive and avoid distractions. This article covers some AI-powered tools that can improve your productivity and make your life easier.

• Timely- It tracks what you do throughout the day and automatically groups tasks into projects with labels and classifications.
• Otter.ai- It uses machine learning to help you generate rich notes from your meetings, interviews, and other voice conversations– saving you time writing the summary and meeting notes.
• Krisp- This app reduces background noise in your conference calls while making human voices crisp and clear.

Adjusting to remote work arrangements can be challenging for both employees and employers. Contact us if you need help in getting the right systems and tech in place for your business.

Avoiding COVID-19 Online Scams

Recently, there has been a significant increase in COVID-19-related online scams that steal your personal data, impersonate authorities, offer fraudulent medical goods and services, and make fake requests for charitable donations. Below are some tips from Google Safety Center to keep you from falling victim to these scams.

• Know how scammers may reach you- Aside from emails, they may also use text messages, automated calls, and malicious websites.
• Check trusted sources directly- Scammers may pose as trusted and authoritative sources. So directly visit reliable sources instead to get the latest factual information.
• Be cautious of requests for personal or financial information, pause and evaluate before sharing- Do not provide confidential information such as logins, bank details, and addresses to suspicious or unverified sources. Donate directly through non-profits.
• Double-check links and email addresses before clicking- Fake links imitate established websites by adding extra random letters and numbers or words, so be extra careful and check before you click.
• Search to see if it’s been reported- Copy and paste the email address, phone number, or suspicious portion of the message on your search engine to check if it has already been reported.
• Add an extra layer of security to your account- Add two-factor authentications to your accounts for extra protection online.

If you encounter phishing pages, you can report it here. For malicious software, you can report the site here.

Get in touch

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