--- title: Budget 2020 – Help for Businesses description: What you need to know as small business owner about budget 2020 image: https://blog.wiseadvice.co.nz/hubfs/WiseAdvice_November2017/Images/auckland1.jpg --- [![sr-logo-dark](https://f.hubspotusercontent20.net/hub/275827/hubfs/sr-assets/images/sr-logo@2x.png?width=220&height=50&name=sr-logo@2x.png) ![Wise-Advice-logo-min](https://blog.wiseadvice.co.nz/hs-fs/hubfs/Wise%20Advice_Logo/Wise-Advice-logo-min.png?width=160&height=60&name=Wise-Advice-logo-min.png)](https://www.wiseadvice.co.nz/) [![Wise-Advice-logo-min](https://blog.wiseadvice.co.nz/hs-fs/hubfs/Wise%20Advice_Logo/Wise-Advice-logo-min.png?width=160&height=60&name=Wise-Advice-logo-min.png)](https://www.wiseadvice.co.nz/) - [About us](https://www.wiseadvice.co.nz/about-us) - Industry - [Ecommerce Accounting](https://www.wiseadvice.co.nz/ecommerce-accounting) - [Hospitality Accounting](https://www.wiseadvice.co.nz/hospitality-accounting) - [Professional Services Accounting](https://www.wiseadvice.co.nz/professional-services-accounting) - [Crypto Accounting](https://www.wiseadvice.co.nz/crypto-accountant-nz) - Services & Pricing - [Business Accounting](https://www.wiseadvice.co.nz/business-accounting-package) - [Rental Property Accounting](https://www.wiseadvice.co.nz/rental-property-accounting) - Resource Center - [Business Resource and Tools](https://www.wiseadvice.co.nz/business-resources-and-tools) - [Blog](https://blog.wiseadvice.co.nz/) - [Contact Us](https://www.wiseadvice.co.nz/contact) - [Pukekohe Office](https://www.wiseadvice.co.nz/pukekohe-office) - [About us](https://www.wiseadvice.co.nz/about-us) - Industry - [Ecommerce Accounting](https://www.wiseadvice.co.nz/ecommerce-accounting) - [Hospitality Accounting](https://www.wiseadvice.co.nz/hospitality-accounting) - [Professional Services Accounting](https://www.wiseadvice.co.nz/professional-services-accounting) - [Crypto Accounting](https://www.wiseadvice.co.nz/crypto-accountant-nz) - Services & Pricing - [Business Accounting](https://www.wiseadvice.co.nz/business-accounting-package) - [Rental Property Accounting](https://www.wiseadvice.co.nz/rental-property-accounting) - Resource Center - [Business Resource and Tools](https://www.wiseadvice.co.nz/business-resources-and-tools) - [Blog](https://blog.wiseadvice.co.nz/) - [Contact Us](https://www.wiseadvice.co.nz/contact) - [Contact Us](https://www.wiseadvice.co.nz/contact) - [Pukekohe Office](https://www.wiseadvice.co.nz/pukekohe-office) [Call us now](https://www.wiseadvice.co.nz/tel:0800304040) [Client Login](https://wiseadvice.co.nz.practice.report/) By [Brad Golchin](https://blog.wiseadvice.co.nz/author/brad-golchin) on May 15, 2020 [loan](https://blog.wiseadvice.co.nz/tag/loan), [Cov19](https://blog.wiseadvice.co.nz/tag/cov19), [budget 2020](https://blog.wiseadvice.co.nz/tag/budget-2020) # Budget 2020 – Help for Businesses ![Blog cover-1](https://blog.wiseadvice.co.nz/hs-fs/hubfs/Blog%20cover-1.png?width=720&name=Blog%20cover-1.png) The Budget yesterday offered some further assistance for businesses facing severe issues due to Covid-19.  The main purpose of the budget is to protect current jobs and create new ones to reduce unemployment from a projected peak in June 2020 of 9.6%, back to the current 4.2% level, and grow the economy from 1 July 2020. 1. The Wage Subsidy Scheme has been extended for a further eight-week period, to follow on from the first twelve-week scheme, for those businesses who have suffered a 50% reduction in turnover for the 30 days prior to the application, compared to last year. 2. A short-term temporary one-off finance loan scheme is to be launched to support businesses to continue R&D programmes – administered by Callaghan Innovation. 3. NZ Trade and Enterprise has been given funds to assist exporting firms and money has been earmarked for small businesses to improve their e-commerce capability. 4. $400 million injection into the Tourism Recovery Plan. 5. 11,000 environment jobs to be created. 6. 8,000 additional public and transitional homes to be built. 7. Trade and enterprise package to provide opportunities for trades training. Plus funds for infrastructure investment. For the full budget [https://budget.govt.nz/](https://budget.govt.nz/) [https://treasury.govt.nz/publications/budgets/budget-2020](https://treasury.govt.nz/publications/budgets/budget-2020) Share [![Share on Facebook](https://www.lean-labs.com/hs-fs/hubfs/LLv2/images/icon-blog-facebook.png?noresize&width=24&name=icon-blog-facebook.png)](http://www.facebook.com/share.php?u=https%3A%2F%2Fblog.wiseadvice.co.nz%2Fbudget-2020-help-for-businesses%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on LinkedIn](https://www.lean-labs.com/hs-fs/hubfs/LLv2/images/icon-blog-linkedin.png?noresize&width=24&name=icon-blog-linkedin.png)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fblog.wiseadvice.co.nz%2Fbudget-2020-help-for-businesses%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on Twitter](https://www.lean-labs.com/hs-fs/hubfs/LLv2/images/icon-blog-twitter.png?noresize&width=24&name=icon-blog-twitter.png)](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Fblog.wiseadvice.co.nz%2Fbudget-2020-help-for-businesses%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Fblog.wiseadvice.co.nz%2Fbudget-2020-help-for-businesses%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=Budget%202020%20%E2%80%93%20Help%20for%20Businesses) Published by [Brad Golchin](https://blog.wiseadvice.co.nz/author/brad-golchin) May 15, 2020 Comments [Read More](https://blog.wiseadvice.co.nz/small-business-cash-flow-loan-scheme-sbcs) [cashflow](https://blog.wiseadvice.co.nz/tag/cashflow) By [Brad Golchin](https://blog.wiseadvice.co.nz/author/brad-golchin) on May 15, 2020 ### [Small business cash flow loan scheme (SBCS)](https://blog.wiseadvice.co.nz/small-business-cash-flow-loan-scheme-sbcs) [![](https://blog.wiseadvice.co.nz/hubfs/personal-money-service-sme-small-business-corporate-loan-product-finance-short-term-merchant-cash-advance-unsecured-working-capital.jpg) Read More](https://blog.wiseadvice.co.nz/is-it-the-right-time-to-take-out-a-business-loan) [small business](https://blog.wiseadvice.co.nz/tag/small-business) By [Wise Advice Team](https://blog.wiseadvice.co.nz/author/wise-advice-team) on May 15, 2020 ### [Is it the right time to take out a business loan?](https://blog.wiseadvice.co.nz/is-it-the-right-time-to-take-out-a-business-loan) [![Wise-Advice-logo-squre](https://blog.wiseadvice.co.nz/hs-fs/hubfs/Wise%20Advice_Logo/Wise-Advice-logo-squre.png?width=50&height=36&name=Wise-Advice-logo-squre.png)](https://www.wiseadvice.co.nz) ©2026 Wise Advice. 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