With the unprecedented flooding wreaking havoc for many Auckland businesses, business associations, including the Auckland Business Chamber, all met with the Mayor, Minister of Finance, Minister of Economic Development, and local and central government agencies. It was a productive, solutions-focused meeting that provided confidence in Auckland’s official emergency response to the floods.
Financial assistance to businesses suffering from a decline in short-term cash flow due to the floods was discussed. The Mayoral Relief Fund made clear it would be the vehicle for any respite. Using such a fund is a well-worn path from other emergencies, and it allows discretion and flexibility due to the changing nature of what is needed each day.
“My hope? That any support wouldn’t be needed for long. The main challenges are damages from the weather, timeframes to get insurance, sometimes a lack of insurance, and loss of income. Businesses with substantial damage will find it hard to land tradespeople to repair premises. It will take time,” shared Josh Beddell, Communications and Engagement at Auckland Business Chamber.
Beddell elaborated that he understood businesses would remain anxious until extreme weather conditions subsided, the cost of the deluge, insured and uninsured, is not yet fully known but is sure to be significant.
Affected Auckland and Upper North Island businesses are needed to be operational as soon as possible. However, to achieve this, Beddell stated a team effort is required.
“This doesn’t just fall on the government’s shoulders. Insurance companies and our banks must also lead. It’s been great to see strong policies around assistance already coming out from some banks. Our SMEs will need this wrap-around support.”
The Auckland Business Chamber has committed itself to help provide support to businesses experiencing vulnerability.
For support or more information, please contact the Auckland Business Chamber website.
