If you run a small business in the field service industry, we understand that finances may be a struggle during the coronavirus outbreak. If you are searching for financial aid, tax deferrals or other funding assistance take a look at the following resources which we have collected together.
Business loans and grants
Employer Wage Subsidy Scheme
If you are an employer or contractor, you may qualify for this wage subsidy to keep your business going.
This is a lump sum payment for your employees and it includes:
- 12 weeks coverage per employee.
- $585.80 per week for full-time workers.
- $350.00 per week for part-time workers.
You can find more details about the Employer Wage Subsidy Scheme on the Work and Income website.
Business Finance Guarantee Scheme
This scheme is for small and medium-sized businesses to protect jobs and support the economy. The Crown, in partnership with participating approved banks, will support new loans to eligible businesses.
This scheme includes:
- A total of $6.25 billion in loans for New Zealand businesses.
- Increases to existing limits for business loans.
- A provision in which businesses with an annual revenue between $250,000 and $80 million can apply for loans of up to $500,000, for up to three years.
Find more information about the Business Finance Guarantee Scheme at business.govt.nz.
Resources for further guidance
- Auckland Chamber - Visit their website to discover business assistance and news articles relating to COVID-19.
- Aucklandnz.com - Find several resources for finance and cash flow management and business strategy and continuity planning
Please keep in mind that this guide is meant to be a list of financial resources, and simPRO does not claim to be a source of financial advice.
If you are looking for other resources to help you best manage your field service business during the COVID-19 outbreak, visit our COVID-19 Crisis Management Hub.