Business Preparedness Guide launched to help Kiwi businesses

A Business Preparedness Guide has been developed by leading accounting software provider MYOB for New Zealand businesses who may be looking for advice during the current COVID-19 pandemic.

The guide offers support in a range of areas from managing cashflow to business continuity and preparing for the eventual upswing. Key Government announcements and links to Government resources are also included.

MYOB NZ country manager, Ingrid Cronin-Knight, says while there’s a raft of information available for businesses, it can be challenging to find all the basics in one place while navigating everything you need to know during the lockdown.

“Managing a business during these uncertain times can be overwhelming and stressful, but it is important to focus on the health and wellbeing of your staff and yourself as we prepare to get through this pandemic, together,” says Ms Cronin-Knight.

The guide focuses on fundamental issues business are currently facing, including establishing secure and successful work from home operations, managing staff and dealing with leave. There is a breakdown of wage subsidy and leave support, including how to apply, and how much employers are entitled to.

Business owners considering the potential shutdown of their business are also provided with information on appropriately managing the next steps and where to get professional help – when required.

“Although many business owners are very independent, it is important to seek help where you can – organisations such as Work and Income and BusinessNZ are available for when you need assistance and as you navigate your business through this pandemic.”

The Business Preparedness Guide encourages business owners to create or update a business continuity plan – and to re-evaluate the plan once the pandemic is under control.

Ms Cronin-Knight says business owners like certainty, but preparing for a crisis to this degree has seen a lot of challenges – even for the most prepared business owner.

“We encourage business owners to take some time out and plan how to effectively communicate with staff and customers, and how you will manage your finances moving forward.”

“Reach out to your employees and keep them up to date on the status of your business, it’s important to create an environment that keeps staff motivated and engaged while working from home – our guide suggests maintaining regular contact in the form of emailing or video conferencing, or even establishing a buddy system for larger businesses.”

“But it is also worth spending some time focused on the future. Experience has shown that there will be a recovery, and given how fast the crisis arrived, the upswing might be as strong for some businesses – so we’ve included some steps businesses should consider to help them be prepared.”