Weekly Digest – 14 May 2021

Welcome back to our Weekly Digest.  Read on for the latest updates and some ideas to help us all move forward.

500 Extra Managed Isolation Spaces Every Fortnight For Skilled and Critical Workers

The government has announced 500 spaces a fortnight in managed isolation will be allocated over the next 10 months – the majority for skilled and critical workers.  The current policy is for at least 10% of MIQ spaces to be given to these workers, but this announcement means 500 would be set aside for certain groups on a targeted basis.

New Zealand COVID-19 Travel Bubble With NSW Resumed

New Zealand reinstated its COVID-19 travel bubble with New South Wales starting last Sunday, after temporarily pausing quarantine-free travel last week amid reports of two COVID-19 cases in Sydney.  Quarantine-free travel to New Zealand from Australia was introduced in April, following the relative success of both countries containing COVID-19.

Māori Business Identifier Goes Live

Māori businesses can identify themselves as a Māori business on the New Zealand Business Number register.  This will allow them to benefit from the opportunities provided by the NZBN, doing business with confidence and certainty, connecting and interacting more easily, with more accuracy, saving time and money.

Māori businesses who already have an NZBN will have a check-box field to complete on their existing digital NZBN registration to indicate if they identify as Maori.  If you don’t have an NZBN, you can apply for one at www.nzbn.govt.nz.

Strategies for Lowering Your Startup Costs

Starting a business can be expensive, even if you’re just working with something small and lean.  This Forbes article shares some strategies to ease the financial burden that you might face upon entering the world of entrepreneurship:

  • Consider buying used equipment, machinery, or vehicles
  • Lease instead of buying expensive equipment
  • Reduce overhead expenses such as by reducing the size of your workspace
  • Hire only who you need– at least at first
  • Secure a floating line of credit
  • Invest in insurance for financial protection in a number of areas
  • Form mutually beneficial partnerships with other entrepreneurs

The earliest stage of your business development is going to be the hardest financially.  So if you need more toughest advice, get in touch with us for a one-on-one consultation.

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Contact us if you have any questions or want to discuss the next steps for your business.

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