Weekly Digest – 28 April 2021
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
Upcoming TRENZ Hui 2021 Conference for the Tourism Industry
TRENZ Hui 2021, a reshaped version of the country’s biggest annual tourism business event, will be held in Ōtautahi Christchurch on 5th and 6th May. It has reached its capacity with more than 700 tourism operators registered to attend.
This conference is set to prepare the tourism industry for the return of international visitors. It will focus on generating solutions for the challenges involved in reopening to the world.
Flights Between NZ and Western Australia Resumes
New Zealand has reopened quarantine-free travel with Western Australia from midday Wednesday. This comes after it was revealed a traveller from Perth was able to enter New Zealand despite the Australian city being locked down.
Travelers who have been identified as contacts to cases across the Tasman will have to test negative and self-isolate for 14 days before they depart for NZ.
Study: New Zealand and Australia Leads APAC in Entrepreneurial Spirit and Confidence
In a new study by Frost & Sullivan and Oracle NetSuite, it was revealed that Australian and New Zealand entrepreneurs are feeling confident about their businesses despite the threats imposed by the COVID-19 pandemic. Around 83% of Australian and 75% of New Zealand entrepreneurs emerged from the last year feeling confident about their businesses and next stage of growth.
Tourism Infrastructure Fund Applications to Close Soon
Applications for the Tourism Infrastructure Fund will close on 30 April 2021, 5:00 pm. This government support is available for areas under pressure due to the pandemic. Five South Island regions namely Kaikōura, MacKenzie District – Aoraki Mt Cook, Queenstown Lakes, Fiordland, and South Westland are given priority. You can read more about it here.
Non-Bank Lenders Join Business Finance Guarantee Scheme
Business Finance Guarantee loans can help small and medium businesses access credit for cash flow, capital assets and projects related to, responding to, or recovering from the impacts of COVID-19.
If you borrow from a bank, it will determine the amount you can borrow and the length of the term up to a maximum of $5 million payable in five years. Meanwhile, if you borrow from a non-bank, the maximum amount is $3 million payable in five years. More information on eligibility criteria and how it works can be found here.
This loan scheme is now available to five non-deposit-taking lenders including these Financial Services Federation Members:
- UDC Finance Limited
- Prospa NZ Limited
- FlexiGroup (New Zealand) Limited
- Speirs Finance Group Ltd
Applications for Business Finance Guarantee loans are open until 30 June 2021. If you need help or have any questions, don’t hesitate to drop us a message.
Free Online Digital Training and Support Tool
The Ministry of Business, Innovation and Enterprise, in partnership with The Mind Lab and Indigo, has launched a free training and support services to help businesses develop their digital capabilities.
More than 9100 small businesses are already taking advantage of these solutions through DigitalBoost.co.nz. This includes providing support on cybersecurity and fraud prevention.
Meanwhile, if you want more focused software integration advice, you may also get in touch with us so we can assist you in getting the right tech in place.
Short-term Absence Payment
This is available for businesses, including self-employed people, to help pay employees who cannot work from home while they wait at home for a COVID-19 test result. This is a one-off payment of $350. You can find the details here.
Leave Support Scheme
The Leave Support Scheme is available for businesses, including self-employed people, to help pay their workers who can’t work from home and meet certain health criteria, eg they have COVID-19 or are a ‘close contact’ who has been told to self-isolate for 14 days.
The Leave Support Scheme is paid as a 2-week lump sum per eligible employee.
The Leave Support Scheme is paid at a flat rate of:
- $585.80 a week for full-time workers who were working 20 hours or more a week
- $350 a week for part-time workers who were working less than 20 hours a week.
Find out more about the Leave Support Scheme here.
Small Business Cashflow Scheme Extended Until 2023
The Small Business Cashflow (loan) Scheme has been extended until 31 December 2023.
Organisations and small to medium businesses, including sole traders and the self-employed, may be eligible for a one-off loan with a term of 5 years if they have been adversely affected by COVID-19.
The maximum amount loaned is $10,000 plus $1,800 per full-time-equivalent employee. The annual interest rate will be 3% beginning from the date of the loan being provided. Interest will not be charged if the loan is fully paid back within 2 years.
You can find out more here, or simply get in touch with us so we can provide our professional assistance.
Kiwi Business Boost Tool
The Government has funded specialist consultancy support services to provide advice to businesses who need it. You can use the Kiwi Business Boost Tool to find out what services are available in your region.
The Treasury website’s COVID-19 Economic Response Measures can also provide more information on the range of supports available to businesses.
Here’s How Small Businesses Can Bring Shoppers Back Into Stores
With vaccination availability increasing in the country, small business owners can start to refocus their efforts on encouraging in-person visitors. This Forbes article shared some tips to effectively boost in-store traffic in the next months.
- Focus on personalisation– It is about relationship-building and appealing to consumers’ desire to invest in a company’s products and its values. With consumers having unlimited choices at their fingertips, you can stand out by providing a personalised experience that strengthens brand loyalty.
- Prioritise authenticity– Research shows 86% of shoppers value authenticity. Don’t just preach authenticity through customer emails and digital ads, you need to bring that same energy to in-person interactions.
- Align innovation with intent– Pair in-person with digital approaches to improve interactions with customers and ease the transition back into stores.
- Tap into senses and sensibilities– After a year of limited contact, customers are happy to get in front of people. Create in-person experiences that engage multiple senses and cultivate an immersive in-store vibe.
- Add mobile to the in-store journey– Review your mobile engagement to make sure it reflects current products and services, while showing you’re ready to reconnect with consumers.
Need more focused business advice on how to attract in-person visitors? Book a one-on-one consultation with us today and let’s work out a plan!
Get in touch
Contact us if you have any questions or want to discuss the next steps for your business.