The Business Finance Guarantee Scheme was effective from 1 April, introduced in response to the COVID-19 economic downturn. While great in theory, when you delve into the detail, it's less useful than might first appear.

Andrew Sayers recently joined Baker Tilly Staples Rodway Waikato. In a former role Andrew was Managing Partner and International Liaison Partner of a large Australasian accounting firm.

As we all know, there is significant global economic uncertainty as countries deal with COVID-19, and the steps taken to control it. Most countries are expecting to enter recession, if they are not in one already.

Many businesses are facing unprecedented times and have been forced to consider if they can continue to operate in the same manner as before.  

As a Business Development Manager, I spend a lot of my time looking to the future and preparing businesses for their future. Well that future has changed dramatically during this year.

On 3 April, the government announced they will be introducing temporary new legislation to help businesses facing insolvency remain viable, with the aim of keeping New Zealanders in jobs.

Amid the uncertainty created by the coronavirus (COVID-19), including how long the effects will be felt, it’s worthwhile understanding what your options are.

The Insolvency Practitioners Regulation Act (the Act) was passed into law in mid-June 2019, bringing with it tighter regulations and standards to help ensure that insolvency practitioners act in the best interests of creditors.