Posted by Jan Victor Valencia
May 04, 2020
Share
Small businesses are now fighting for their survival and governments around the world are supporting them to help them stay afloat. Here are the different relief packages offered to SMEs (small, and medium enterprises) in the midst of the coronavirus pandemic.
AUSTRALIA
- Cash-flow Boost for up to AU$100,000
- JobKeeper Payment Scheme
- Wage Support for Apprentices or Trainees
Visit business.gov.au for more information.
CANADA
- Wage Subsidy Support
- Deferral of Tax Remittance and Duty Payments
- Diverse credit access programs
Visit canada.ca/en/department-finance for more information.
HONG KONG
- More than 70 measures in line with the Anti-Epidemic Fund (AEF)
- The Government provides each sector with specific subsidies
Visit coronavirus.gov.hk for more information.
SINGAPORE
- Deferred payment of principal on secured SME Term Loans.
- Lower Interest on SME Loans
- Flexible Premium Installment Plan for general insurance policies
Visit mas.gov.sg/regulation/covid-19 for more information.
NEW ZEALAND
- Finance guarantee loan schemes for SMEs up to NZ$ 500,000
Visit business.govt.nz/covid-19 for more information.
UNITED KINGDOM
- Business rates relief
- Financing up to £5,000,000
- Tax payment deferral
- Assistance for employee wages and sick pay
Visit gov.uk/coronavirus for more information.
UNITED STATES
- Small businesses may get capital access up to US$5,500,000
- Can be used to assist businesses with their payroll, inventory, and market fluctuations.
Visit sba.gov for more information.
Outsourcing can be a great help as cities around the world continue to lock down to prevent the spread of COVID-19. However, finding a reliable outsourcing partner can be challenging. Download our Outsourcing: How to Make it Work whitepaper below and learn how to choose the perfect outsourcing partner for your business.
