As companies continue returning to work, PrintNZ offers advice on safety and more issues for the industry.
This has become vital in an environment quite different from when lockdown began over a month ago. Ruth Cobb, chief executive at PrintNZ, says, “We had a great response to our safety plans with a huge uptake. It is good to see so many taking this seriously. I have been working alongside Worksafe to ensure these protocols meet their standards. I met this week with the chief executive of Worksafe and have received confirmation of their endorsement.
“Having these protocols endorsed will serve to provide a level of security to the businesses in our industry that they are operating in accordance with the Government’s requirements.”
While PrintNZ offers advice on safety, and other matters, during the Covid-19 crisis, it will continue to monitor developments at government level. In some good news, the government has announced it will provide interest free loans for a year to small businesses impacted by Covid-19 to support immediate cashflow needs and meet fixed costs.
The scheme, available to businesses with 50 or fewer employees, will provide up to $100,000. It will provide $10,000 to every business and $1800 per equivalent full time employee. Loans will be interest free if paid back within a year, but businesses can pay back the loan over five years at an interest rate of three per cent, with no repayments required for the first two years.
Designed to give businesses access to cashflow to meet fixed costs on concessionary terms, the scheme indicates the government’s recognition that the Business Loan Guarantee Scheme through the banks has not been suitable for many small businesses, although there have been further changes made to that as well, in particular removing the need for a General Security Agreement.
The eligibility criteria for the new loan are the same as for the Wage Subsidy Scheme in that the business will enter a legally binding contract. Cobb adds, “You will have to declare that the business is viable, and that the money will be used for core business operating costs. In addition, there will be an audit process.”
The funding will be available through IRD. Applications will open on May 12 and be open for one month. PrintNZ will share a link once it opens.
