Thursday, July 18, 2024

$5m package for flood-hit businesses

The Government has announced a $5 million package of emergency support to help businesses significantly affected by the recent flooding in Auckland.

The support includes:

  • $3 million for flood recovery payments to help significantly affected businesses;
  • $1 million for mental wellbeing support through a boost to the First Steps programme;
  • $1 million for small business advice focussed on business continuity and resilience;
  • Inland Revenue will also waive penalties for late payments for Auckland, Northland, the Bay of Plenty, Thames/Coromandel and Waikato​​​​​​​.

“The floods were devastating for many businesses in the Auckland region. The flooding was sudden and could not be reasonably prepared for so it is expected that it will take a long time for many businesses to recover and start operating again,” said Finance Minister, Grant Robertson.

“We developed this package of support through discussions with Auckland business leaders so it reflects the needs they identified.”

The money will be delivered through the Auckland Business Chamber, the Employers and Manufacturers Association, Whāriki (Auckland’s Māori Business Network) and the Pacific Business Trust.

“We will consider further support if required,” Mr Robertson said.

Revenue Minister, David Parker said Inland Revenue would also provide support for affected businesses.

“If taxpayers affected by the flooding and other weather-related damage contact IRD, it can waive penalties for late payments or late filing of returns,” said Mr Parker.

“It can waive interest on late payments by taxpayers in Auckland, Northland, the Bay of Plenty, Thames/Coromandel and Waikato.”

New Small Business Minister, Ginny Andersen (pictured, above) met with some flood-hit Auckland business owners on Tuesday.

“What they told me is that using existing business networks on the ground in Auckland is the most efficient and effective way to deliver this help, and that is what we are doing,” she said.

“We know that for Auckland businesses who are still dealing with the impact of COVID, the floods have been another blow.

“This is a tough time, and in order to provide further support we are boosting funding for the business led First Step programme which provides targeted mental health support to small business owners.”

Latest Articles