SME RELIEF PACKAGE – A USEFUL START

The Small Business Relief Package is a welcome investment in the small-business (SME) sector, said Eastern Bay Chamber of Commerce President Gerard Casey.
“The SME sector – making up 95% of all businesses and the largest employer group overall – is the most vulnerable sector NZ business.
“We must invest in them and the people they employ. The tax package will assist cash flow which right now is king for business,” he said.

It is vital that everything practical is done to make sure business make the most of opportunities they have available now and not live on the dire predictions they are hearing from many quarters.
“While we expect times to get more challenging we can use the lag time to make sure we are in good shape. One thing is certain, that times will improve and when they do, we should be ready and firing to capitalise,” said Mr Casey

The SME health check unveiled today is a way to encourage every business to start the internal review and the resources that are available  will be useful for getting business focused on doing what’s needed to stay the course.
The package has five parts: a suite of 11 tax changes costing $480 million, an expansion to the export credit scheme, extended jurisdiction for the Disputes Tribunal, expansion of business advice services, and a prompt-payment requirement for government agencies.  The tax changes will cost $480 million over the next four years. That means nearly half a billion dollars of benefit to New Zealand businesses.

The prime Minister has said that "The package as a whole is aimed at urgently improving the business environment by reducing the impact of taxes on firms' cashflows, improving firms' access to credit, and reducing business compliance costs.It has the potential to lighten the load on small and medium-sized businesses.  Improving the environment for business, and therefore jobs and growth” which will be good news for local business here in the Eastern Bay of Plenty says Mr Casey.

For more information contact:

Gerard Casey
CEO
Eastern Bay Chamber of Commerce

Telephone:   07 3125677
Mobile:   <027 2719032
Email: gerard@ebopchamber.co.nz