Winter 2020 message from Greg and Vanessa
We hope that you’re well and starting to develop strategies for your business to emerge from the COVID-19 coronavirus lockdowns reinvigorated!
As expected, the 2020 Budget has been a high spending one with a deficit forecasted to be $29.6 billion in 2021. Unemployment is projected to increase significantly, peaking at 9.8 per cent in the September 2020 quarter before recovering thereafter.
New Zealand's real GDP growth rate is projected to decline from 2.8 per cent in the year ending June 2019 to -4.6 per cent in the year ending June 2020. Annual real GDP growth is not forecast to become positive until the year ending June 2022. Read our Budget summary here.
Many of our clients have availed themselves of the opportunity of asking us to perform a wider range of duties over recent months – why not discuss with our team the broader range of services and support we offer to help you survive in your business beyond COVID-19 and during this financial year?
Have you given serious consideration to:
- Budgets and forecasts for this financial year
- Any additional bank funding required and assistance with loans
- Government subsidies
Our team can help you put pen to paper or work in a Virtual CFO role - it's up to you. Timing-wise, the next few months offer the opportunity to work on your business as we all know how long the planning and application process can be.