The latest COVID-19 updates, information for business, resources and factsheets

Te Waka Economic Radar 3 July 2020

July 6, 2020
As at 3 July, New Zealand is midway through its fourth week at Alert Level 1 status.Te Waka, with the support of Waikato Regional Council Economists Blair Keenan and Sarah MacKay, continues to collate data to gauge what is happening in the Waikato economy. Charts in today’s Radar show some improve...
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Economic Situation Report

Treasury Scenarios
Last week – the third full week of Alert Level 4 – saw the release of a set of scenarios from the New Zealand Treasury. While we can quibble with some of the details, one thing it does illustrate is the historic magnitude of this shock to the economy. The gross domestic product statistics we use now only began in 1987. A look at the history of that data shows that quarterly changes average around 1 percent in magnitude, with the largest change in a single quarter being the -4.2 percent fall in 1989. Since 1987 falls of 3 percent or more have only been recorded 4 times.

Guidance for employers navigating the impact of COVID-19

With the enormous global impact of COVID-19 and the New Zealand Governments “go hard and go early” response, employers across the country are facing unprecedented challenges.  Whether it be a complete closedown, economic downturn, operational disruptions, reduced staffing levels, or managing this new and serious threat to health and safety – the impact is very real and is creating a lot of uncertainty and anxiety for employers and employees alike.

Level 2 Business Operations

Level 3 Business Operations

Level 3 Managing Health and Safety

Small Business Cashflow Loan Scheme

Changes to the Companies Act

In response to the Covid-19 crisis the Government yesterday announced changes to the Companies Act 1993 (“the Act”) to allow company directors a “safe harbour” from potential adverse claims under sections 135 and 136 of the Act, the introduction of a Business Debt Hibernation regime to allow directors to manage any creditors which arise as a result of the crisis and several other related changes.

The Heart of Resilient Leadership

The rapid global spared of COVID-19 has quickly eclipsed other recent epidemics in both size and scope. In addition to the deadly human toll and the disruption to millions of people’s lives, the economic damage is already significant and far-reaching. 

Deloitte Wage Subsidy Update 28 March

SME Tax Factsheet

15 April 2020

The Government has announced a suite of new measures to provide relief for small and medium-sized businesses during the COVID-19 pandemic.

Finance Minister Grant Robertson says while the Government has already acted swiftly in response to the crisis, with about $20 billion in support already announced, it recognises that more is needed.
The new measures include:
$3.1 billion tax loss carry-back scheme (estimated cost over the next two years)
$60 million estimated annual savings to business each year from changes to the tax loss continuity rules
$25 million in the next 12 months for further business consultancy support
Greater flexibility for affected businesses affected to meet their tax obligations
Measures to support commercial tenants and landlords

Business Information from Government

This page brings together government information relating to COVID-19 (novel coronavirus), how it may affect your business and how you can stay up to date as new information becomes available.

Wage Subsidy and Leave Payment

As part of the Government to response to COVID-19 they have announced on 10 March a $4million regional support package for SMEs which will be delivered using the Regional Business Partners Network.

Click here to arrange a time to meet one of our business advisors

Supporting Waikato Businesses

As our business community puts plans in place to operate from home, close its doors or keep essential services running, Te Waka's here to support you. Our thoughts are with you, your staff and your families during this extremely challenging and unprecedented time.

Please, if you need support or advice, get in touch with one of our business advisors on 07 857 0538. They can offer an ear, advice and connect you with the right help.

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We please need your feedback to ensure that the tools and support we offer meet the needs of your business.  We strongly encourage you to take the time to complete the survey below. 

EMA COVID-19 Website

EMA Covid-19 Website for Employers

We’re working to get you the information, advice and resources you need to continue doing business during this unprecedented time.