NZ Govt To Provide Additional Support To SMEs | NZ Market Update

  • Jul 14, 2020 NZST
  • Team Kalkine

The Ministers for Economic Development and Small Business have confirmed that more support will be provided to the SMEs as part of COVID Response and Recovery Fund. An additional of NZD 40 million for the Regional Business Partners (RBP) Network will be offered, on top of NZD 15 million funded since March. The economic development minister, Mr Twyford said, the Regional Business Partners scheme was a huge success, and the new support will keep up the momentum.

As per the Stats NZ report, due to COVID-19-related border and travel restrictions, the number of people that arrived in the country in May 2020 was the lowest since May 1959.  In May 2020, there were 5,600 arrivals, and there were 4,700 in May 1959. Maximum of the international travellers that came to New Zealand were short-term travellers, including 2,600 New Zealand residents and 2,200 overseas visitors. Also, temporarily there were 900 migrant arrivals. In the previous month, there were 6,300 arrivals.

Despite receiving millions in wage subsidies from the Government, international rental car firm Avis Budget Group says redundancies are inevitable as it struggles to cope with the impacts of Covid-19. Avis Budget Group, which was owned by American firm Avis Budget Car Rental, operated Avis Rent A Car, Apex Car Rentals and Budget Rent A Car in New Zealand. The company said in a statement travel restrictions and “nervousness about domestic travel” had hit its airport business particularly hard, slowing its recovery. The company employed about 800 people in New Zealand across its three rental car businesses.

#Covid19 #NewZealand #NZD #Kalkine


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