Covid-19 took the world we know by a tornado, and we are still in the process of recovery. The response to the pandemic requires addressing the complexities that have unraveled from direct and indirect effects on society and businesses. Long term solutions and collective support from the government, community, and individuals is necessary.
The Covid-19 pandemic is an infectious disease that has varying levels of severity on individuals. The increasing spread of the virus and its various forms has been a challenge, and the role of the Elimination Strategy for Aotearoa has been working towards preventing widespread infections.
We’re all familiar with alert level lockdowns, right?
There are four levels of lockdowns in Aotearoa. Lockdown has been a result of attempting to contain the Covid-19 outbreak. Implementing alert levels has been a fundamental aspect in preventing the spread but has caused significant disruption to many businesses. Initially, businesses throughout industries saw a decline through cycles of redundancy, cut in working hours and loss in productivity. General improvement was recorded across labour market measures in the December 2020 quarter with a slight increase in employment. However, improvements have been inconsistent with smaller businesses and disadvantaged groups continuing to experience struggles and disruptions.
Business owners are also experiencing mental health issues through stress and complexities trying to cope with long hours whilst continuing to seek new business opportunities.
The Wage Subsidy August 2021 has been introduced to support businesses in paying their staff and protect jobs affected by the change in alert levels. Since its initial stage, 781 364 jobs across Aotearoa have been supported by wage subsidy schemes. There is an eligibility criterion that businesses must meet before applying, including reduced revenue. For workers experiencing reduced hours, the Ministry of Social Development may also be able to assist in some essential costs through different services, including Jobseeker Support, Accommodation Supplement, etc.
Aotearoa has also come together to support local businesses in their communities. Amidst the hardships of Covid-19, supporting small local businesses has strengthened the sense of community. Shopping locally, discovering and promoting smaller businesses through social media such as Instagram and Facebook are ways to adapt to the change for businesses and come together as a community.
Ultimately, your accountants are there as your trusted adviser to support your businesses and communities. Whether it concerns the complexity of the wage subsidy scheme, government services, business growth or general advice, we're here to provide accurate information and deliver a plan for your recovery.