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17 April 2020

Find financial assistance for your field service business during COVID-19

Business Advice | 2 minute read

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.

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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.

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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, subscribe to our newsletter.

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