At TODD & WALKER Law we look forward to supporting tourism-based businesses in the region get back on their feet as the borders reopen.
The Tourism Kick-Start Fund will be available from 1 April 2022 as part of the Government’s Tourism Communities Support, Recovery & Re-Set Plan. This fund can be used for operational activities such as recruitment and wages of staff, operating expenditures, fixed overhead (e.g. leases), marketing and repairs and maintenance directly related to scaling up business operations.
Tourism businesses that qualify under the below criteria are eligible for grants between $10,000 and $50,000, depending on the revenue of the business for the 2019/2020 financial year.
The key terms and criteria of the funding are:
- It applies to businesses physically based in Queenstown Lakes, Southland (focusing around Te Anau and Fiordland), Kaikoura, Mackenzie, and Westland (focusing around Fox Glacier and Franz Josef).
- To be eligible under this plan; you must operate a tourism business, which is defined as a business where at least 50% of its operational output is purchased by tourists.
- The business must have engaged in hibernation-like activities due to COVID-19, for example reduced opening hours or business capacity.
- Compared to the 2019/2020 financial year, the business must have experienced a drop in annual revenue of at least 50%.
- The business must have had a minimum annual revenue of $60,000 pre-COVID-19.
- The business must pass a viability test demonstrating that the business will remain viable and operating up to and beyond the border re-opening.
- The business must be GST registered in New Zealand.
You can register your interest for funding by contacting your Lead Entity for your district. See further information on the support fund and who the Lead Entity is in your district here.
We have an experienced team who can advise across a number of diverse business matters which may be of assistance as your business scales back up in preparation for the border re-opening, and you consider applying for the grant. We can assist with areas such as:
- Immigration and employment including advice on visa requirements and employer accreditation, employment agreements and employment structuring.
- Commercial advice, including business structuring and financing and
- Property matters, including leasing advice.
Find out more information about the TODD & WALKER Law team and how we can assist here.
If your business requires legal assistance as it prepares for the border to re-open, please contact us at [email protected] or 03 441 2743.