The New Zealand Government has offered a $12.1 billion package providing for businesses to help them get through the current times. We are certain this package will be expanded as time continue access to these packages is easy and can mostly be completed online with a very quick response.
To provide you with some useful tips we thought it was a good time to outline some assistance EC Credit Control can provide as well as a summary of what the government is providing businesses to help them get through the current times.
The government’s current package includes:
- Initial $500 million boost for health
- $5.1 billion in wage subsidies for affected businesses in all sectors and regions
- $126 million in COVID-19 leave and self-isolation support
- $2.8 billion income support package for our most vulnerable, including a permanent $25 per week benefit increase and a doubling of the Winter Energy Payment for 2020
- $100 million redeployment package
- $2.8 billion in business tax changes to free up cashflow, including a provisional tax threshold lift, the reinstatement of building depreciation and writing off interest on the late payment of tax
- $600 million initial aviation support package
For more details and the most up-to-date information visit the Government’s COVID-19: Information for businesses page.
As your credit management specialist we are to help your SME business now and over the coming months. We have assisted with keeping many businesses afloat during the GFC and we are willing and able and waiting to assist your business through the COVID crisis and the following financial crisis.
Remember, EC Credit Control was born out of the 1987 share market crash where we assisted many clients due to our knowledge of SME businesses. This also saw a surge with the number of new clients that came into the EC ranks.
While the markets are responding it will take a little while for the effects to filter through to business, but let’s take this opportunity to best position your business for the future now. Get your debts loaded today and we can start working them now.
Have more questions on your credit management? Contact us here.