Business Update – 9 September 2021

09/09/2021

Lockdown Outside Auckland Has Been Lifted

Covid The nationwide lockdown outside Auckland has been lifted after three weeks. At midnight on Tuesday, the country moved into Alert Level 2. This means people are already allowed to return to work and school.

However, Auckland will remain at Alert Level 4 for at least one more week.

Economy Not Likely to Suffer as Much During this Lockdown

While household spending has declined after the country was moved quickly into Alert Level 4 three weeks ago, economists say it isn’t as bad as last year and that the country is more resilient and better prepared this time around.

Last year, GDP declined by 11% in Q2 due to lockdowns, but rebounded 14% in Q3. Economists are expecting a similar pattern, but not of the same magnitude.

COVID Support for Businesses Amid Level 4 Lockdown

Support Businesses impacted financially by this lockdown are being offered a range of support measures.

You can find information on the COVID-19 website detailing the support available, or refer to last week’s blog for details..

Wage Subsidy 2021 #2 Update

The Wage Subsidy currently only applies to those businesses operating under Level 4 or Level 3 restrictions. This means generally anyone outside of the Auckland borders cannot and should not apply for this round of Wage Subsidy (at this stage).

If you have applied and received the subsidy (done before the move to Level 2) then you will need to consider and ensure that

your revenue does in fact drop by 40% for the 2 weeks from 31 August to 13 September; and
it is attributable to the time spent at level 3 and/or any direct knock-on effect of Auckland remaining at level 4.

Get in touch with us if you have any questions.

4 Easy Ways to Provide More Value for Your Customers

Customers choose you over your competitors because you provide the most value. As competitors find ways to make their offerings more appealing than yours, you should also implement some strategies to provide even greater value than you already do and retain customers. This Forbes article shares some tips on how you can achieve this.

Become a niche authority. Establish yourself as an authority in your niche and provide solutions or insights to their pain points through blogs and social media posts.
Ask customers for feedback. Obtain honest feedback from customers to discover how you can add even greater value and improve customer experience.
Proactively customise your offerings. A one-size-fits-all approach doesn’t always work. Understand what each client needs and tailor your services accordingly.
Reward loyalty. If you want to gain repeat customers, find ways to reward their loyalty. Provide incentives and devise a rewards system.

As you try to make your customers happier, your business becomes more memorable and valuable for them. Therefore, it’s a win-win situation!

Need more focused business advice? Get in touch with us today and we can talk about your situation.

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