With the whole country having spent months at the red ‘traffic light’ setting, many businesses have been struggling. The Government has more support available for those businesses experiencing a revenue fall as a result of Omicron or the red traffic light setting. Over $500 million has been paid out already, but some businesses haven’t yet applied – if you’re eligible, it’s the right time to put in your application.
The support payment is worth $4000 per business plus $400 per full-time employee, capped at $24,000. This applies to businesses of all sizes, including sole traders and self-employed contractors or freelancers – the total payment available for the self-employed is $13,200 over six weeks, or $2200 a week. Societies and clubs may also be eligible.
Is your business eligible?
The Covid Support Payment (CSP) applies to revenue between 16 February 2022 and 4 April 2022. You can read more here.
Three payments are available to eligible businesses, which must:
Have experienced a 40% or more drop in revenue as a result of widespread Covid-19 or the red traffic light settings – this can be demonstrated using your accounts
Have taken “all reasonably practical steps” to prevent the revenue drop
Have been complying with the red light settings and vaccine certificate requirements
Be able to demonstrate the business is viable
The money can only be used for business operating expenses.
We can apply on your behalf
We can put together accounts to demonstrate your loss of revenue and your business’s viability, as well as your total number of employees. We can apply on your behalf and help you get the support paperwork processed quickly, so you receive your funding as quickly as possible.
Get in touch, we’re here to help!
Check out https://www.crossgroup.co.nz/covid-19 for more info on this and other financial support options!