Money, Jeremy Tauri: Financial support for businesses during Covid-19

Jeremy Tauri is an associate at Plus Chartered Accountants.

By now, you probably know about the financial support available to help you get through the Covid-19 disruption. There's another round of wage subsidy coming for the hardest-hit businesses,the small business loan and income payments for people who've lost their jobs.

But the world is changing fast and both employees and employers might need some other support to adjust to a new normal.

If you're in business, do you have a good mentor to help you work out how to keep up with the changing environment?

Mentor schemes are available across the country — both formal ones through networks such as Business Mentors NZ, your local Chamber of Commerce or the Regional Business Partner Network. There is also dedicated support available for Maori business.

You could also find a mentor or coach through a business group, where people in your industry or region get together to support each other. Often you can find people who are willing to share their experience.

It's important, with any mentor you work with, that you understand their skills and experience, and that it is relevant to your business. If you are in doubt then ask for references or referrals so you can qualify them as right for you.

You don't necessarily need to have coaching on the mechanics of your business — sometimes it can be helpful to get support around ways to keep your staff engaged through what has been a stressful period, or new ways to use technology to boost productivity.

If you're employed, you can also access training and support to help you adjust to an economy that might have demand for a different set of skills.

The Government has set aside more funding in the Budget for training — including $320 million for free trades training in "critical industries". This will mean courses in things such as construction, manufacturing, agriculture, community health, counselling and care work. Things are changing fast but you're not in it alone. Don't be afraid to ask for help.

Jeremy Tauri is an associate at Plus Chartered Accountants. www.plusca.co.nz