Today saw the next iteration of support measures for businesses announced. The announcements were scant on details, but we expect that will be released over the coming week to 10 days.

Here is a very brief summary of our take:

  • The Resurgence Support Payment (the one that IRD administers) will be doubled, meaning the new payments will be $3,000 PLUS $800 per employee. The payment schedule will also move from 3 weekly to 2 weekly, so it might mean a little more admin in the application process.
  • Funding will be available for certain business advice and support (up to $3,000 per business) and implementation of the advice (up to $4,000 per business) via Regional Business Partners. It looks like this might be limited to Auckland businesses and it’s not yet clear what types of support will be eligible.
  • There is funding being made available for mental health and wellbeing support, as above, the mechanism that this will be delivered isn’t yet clear.
  • It appears the Wage Subsidy (the one administered by WINZ) will be unchanged.

As the old saying goes “the devil’s in the detail”, so as this becomes available, we will be sending it out accordingly, along with our take on how it might work.

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