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Keeping your business afloat during the COVID-19

Industry Advice 19 Mar 2020

Following the NZ Government's announcement on Saturday of wide reaching travel restrictions, PCF and the Pacific-facing business councils want to make sure that you remain updated on issues that are likely to affect your business. While we can provide you with this general guidance, it is important to remember that every business and workplace will have its own specific set of issues, and we strongly recommend that you take advice for your particular circumstances.

We encourage businesses and communities to make fact-based decisions and stay informed COVID-19.

As business owners, there are a few things we can control and measures we can take:

[1] Communicate clearly and effectively with your employees. Your staff will be exposed to conflicting information and may be anxious or confused. Make sure to communicate any new policies quickly and in a balanced fashion. One simple step is to provide an information hub where employees can find all the information they need.

[2] Make sure travel policies are clear, and employees know what authorisations are needed and when the policy will be reviewed. This is a good time for businesses to consider which functions can be done remotely, including from an employee's home. It is often in moments like these that business owners rethink processes, finding creative ideas that improve the business long after a crisis is over.

[3] Tell sick employees to stay home. Businesses that do not offer paid sick leave may wish to make an exception in this case.

[4] Check your insurance policies. Re-read key business contracts to understand cancellation clauses. Interruptions from COVID-19 may allow suppliers to cancel contracts without penalties. Your business interruption insurance may also not apply.

Global Deloitte have a dedicated webpage helping businesses manage and mitigate the risk. Click on the link below:

Combating COVD-19 with resilience