Business Update – 9 July 2021

New Zealand Restarts Travel Bubble With Victoria, SA, ACT, and Tasmania

TravelNew Zealand has reopened the travel bubble for people from certain states in Australia.

From 11:59 pm on Sunday night, those from Victoria, South Australia, Tasmania, and the ACT will be allowed to travel to New Zealand without quarantine, provided they haven’t visited a COVID-19 hotspot.

According to New Zealand’s Ministry of Health, all travellers eligible to fly to New Zealand are required to take a pre-departure test within 72 hours of leaving Australia that must return a negative result.  Travellers must also not have been in Queensland, the Northern Territory, or Western Australia since 10:30 pm (NZ time) on 26 June and New South Wales after 11:59 pm (NZ time) on 22 June.

Travel Bubble Between NZ and Western Australia, the Northern Territory to Resume on 9 July

The government announced that Western Australia and Northern Territory have their outbreaks contained, and the travel bubble will resume from 11:59 pm on 9 July. Although the pause remains for NSW and Queensland, those who ordinarily reside in New Zealand will be allowed to travel but with the following requirements:

  • A declaration that they have not been in a location of interest in the past 14 days
  • Not symptomatic
  • Not a close contact of a positive case
  • Not awaiting the results of a Covid-19 test

It’s important to note that pre-departure tests are required, and those linked to a person or place of interest will not be allowed to travel.

Largest Pfizer Vaccine Shipment of 150,000 Doses Has Been Delivered

VaccinationNew Zealand’s largest shipment of 150,000 Pfizer vaccine doses has arrived two days ahead of schedule.  The government confirmed that about a million doses of the Pfizer vaccines would arrive this month.

The government is also calling on more vaccinators on board as the country moves to the next phase of the vaccination campaign.  Retired and overseas-trained health professionals can now join the growing vaccinator workforce.

New Zealand will likely need between 6,000 and 6,500 people vaccinating part time or full-time.

NZIER Survey: NZ Business Outlook Rebounds in Q2

New Zealand’s business confidence improved in the second quarter, suggesting strong economic recovery over the coming year and fuelling speculations of a sooner-than-expected rate hike.

According to the results of the New Zealand Institute of Economic Research’s (NZIER) quarterly survey of business opinion (QSBO), a net 7% of firms expected general business conditions to improve compared with a 13% deterioration predicted in the previous quarter.

Also, 10% expected business conditions to improve– better than the 8% pessimism from the previous period.  The trading activity measure of firms also picked up with a net 26% of businesses reporting increased demand in the June quarter, compared to just 2% in the previous one.

Conduct a Mid-Year Business Review

Time flies!  The year is halfway over and although the battle against COVID-19 is not completely over, a lot of things have changed since last year as countries ramp up their vaccination efforts.

Instead of waiting until the end of the year to do some business clean-up, why not conduct a mid-year review to evaluate your performance, boost your awareness of your business, and start corrective actions early?

This Forbes article provides an actionable checklist to help you look into your business more closely and knock off some tasks so you won’t get overwhelmed by the end of the year.  These include:

  • ReviewGet to a quiet place and check how you’re feeling.  Block off a day or a few to reflect on how you’re feeling about your business.  Are you living up to your purpose and vision?  Do you feel you’re accomplishing your goals?  Are you overwhelmed or anxious about the future of your business?
  • Assess your cash flow.  Regardless of your industry or size, cash flow is the life-blood of your business.  Monitor how close you are to your targets for revenue and profits, and identify problems or potential issues.  Some of the things you should look into include income, profit, owner’s compensation, tax, and operating expenses.
  • Review your tax payments.  Check in with your accountant to see if you’re on track with mid-year tax projections.  Your accountant can look at your revenue, make a projection, and estimate how much you should owe during tax season.
  • Conduct an expenses analysis.  If you’re having cash flow troubles or you simply want to have more cash, you can review your expenses and either increase sales or cut costs.  Cutting costs is usually quicker.
  • Write down what’s next.  Develop steps to accomplish new goals and write them down.  What can you do about the obstacles you’re facing?  How and when are you going to do it?  How do you feel about it?

Remember, the purpose of this review is improvement or progress, and not perfection.  If you need some guidance to push your business forward, get in touch with us today and let’s discuss how we can help!

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