Increasing Transitions Support To More Tourism SMEs | NZX Market Update

  • Jul 21, 2020 NZST
  • Team Kalkine

An investment of $10 million via the Tourism Transitions Program is expected to help nearly 3,000 small and medium-sized tourism companies affected by COVID-19 in getting professional guidance, Tourism Minister Kelvin Davis declared today. Funding shall be given to the Regional Business Partners network that will connect businesses to expert guidance at no cost. Eligible companies shall get guidance and expertise worth up to $ 5,000 to promote business continuity. About 700 tourism businesses have enrolled for advice since the beginning of service in May.

Subsequent to the floods and harsh weather experienced on 17 and 18 July in Northland, the Insurance Council New Zealand (ICNZ) and EQC are advising people to contact their insurer as their first port of call to make sure the claims process is as easy and efficient as possible. This is the first time when customers’ private insurers will be capable of managing some claims for land damage on behalf of EQC. The customers who experienced damage of their residential home, and have debris or silt in their land, will be able to lodge and have their claim handled by their insurer. EQC, ICNZ and other insurance partners are working in partnership to manage the evaluation of flood damage.

For the 12 months ended 31st March 2020, General Capital Limited (NZX:GEN) reported positive growth for the company and its subsidiaries. Due to the looming COVID-19 crisis, the company slowed a little over late February and for March; however, the overall growth during the year was strong. The total assets increased to $51.2 million, and the total deposits increased to $41.5 million; Total capital stood at $9.4 million, and NPBT stood at $190k.

#NZX #GEN #Covid19 #NewZealand #Kalkine


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