Covid 19 and my business 0 Comments Uncategorized By admin

When a pandemic or epidemic hit, many industries are affected, the health sector, obviously, but what about your business? A paper investigating the economic Impact of the 2015 Middle East respiratory syndrome coronavirus (MERS-CoV) outbreak on the Republic of Korea’s tourism-related industries finds that the relatively brief outbreak was associated with 2.1 million fewer non-citizen visitors, which corresponds to about US$2.6 billion in lost tourism revenue. In a country like NZ that relies on its tourism brand – how might this affect you and your company?

Agriculture:

Given that around 60% of emerging infectious diseases reported globally are zoonoses (i.e. naturally transmitted diseases between people and vertebrate animals), virus outbreaks may result in significant costs to a country’s agricultural sector and trade. Secondary costs to not being able to trade in meat, dairy and produce, such as culling of animals will also have a huge impact on peoples’ livelihoods.

Tourism:

Another economic implication of an epidemic is that travel and tourism to regions affected by outbreaks are also likely to decline.Closed borders and a reduced number of tourists will certainly hit local NZ tourism businesses hard – in an area where seasonal income is already difficult to manage. IRD recently announced that tax relief and income assistance is available to people affected by the downturn in business due to the Coronavirus COVID-19. So, if Covid 19, in any way, shape, or form, is having an effect on your income and ability to provide for your taxes, give me a call today and let’s remove one of your worries, together.