The EMA says its members will be delighted to hear of immediate relief offered through the Government’s $12.1 billion business continuity package announced this afternoon.
Chief Executive Brett O’Riley says as a first stage the package, at 4 per cent of Gross Domestic Product (GDP), is impressive and will significantly help with business confidence and cohesion in the short term.
“We’ve been engaged with officials providing input into this over the last few weeks and it looks like they’ve really been listening,” he says.
In particular, $5.1 billion in wage subsidies and the leave payment scheme for all kinds of workers will be most valuable for the EMA’s 7000 member businesses from Taupo north.
“We know many of our members are operating on small margins and facing some hard calls around downsizing, and this will help delay those decisions until the situation becomes clearer,” says Mr O’Riley.
“Our AdviceLine has been running red hot over the last few weeks and the biggest issue has been around leave. Employers certainly want to look after their people but it comes at a huge cost.”
Through the private Facebook group the EMA set up for its members and others in the Business NZ network, it has seen businesses banding together and sharing information and knowledge.
“Nationwide it’s about keeping the economy going and businesses intact and what we’ve seen firsthand is them collaborating to maximise the chances of everyone getting through this recession,” says Mr O’Riley.
In addition to its AdviceLine on 0800 300 362, the EMA is also happy to be helping support the Government’s package by funnelling employers through to the MSD where they can apply for this help.
“We’re hoping that with positive signs such as China opening back up we’ll be on the other side of this when this support runs out, but if now we’re happy to also be part of the solution for the second stage, including helping those who were displaced get back into employment where they’re needed,” he says.