I generally prepare each newsletter soon after publishing the previous one. In this case - especially when the end of March is sadly so chaotic, even before the pandemic. It seems inappropriate to publish the article I prepared earlier this month. The material is, as always, based on sound long-term business principles, including respecting everyone - customers, suppliers and your team, so it's not "wrong". But with covid changing the world as we know it, there are major issues to consider.
I fundamentally disagree with those who favour "survival of the fittest" - I believe every person is of value. It's interesting to see that, at least in this early stage of the pandemic, there is an amazing amount of goodwill and positivity out there - even to those of us whose immune systems put us (and our health systems and staff) at higher risk. That gives me great hope for the future - despite the financial problems we all face.
I hope our society will not return to business as normal now we've had the chance to see that relationships - not dollars - are the key to life.
With that little homily out of the way, on to business - but not as we know it. Covid-19 and the way it affects business is moving so fast there's no point in giving details here - they'll be out of date by the time you read them. Instead, I offer business links which should prove useful for some time.
Of course, we need to keep up to date with the government's stance.
Every business pays tax - here is IRD's guide.
To complete the trifecta at this stage here's an article about businesses surviving long term.
And here's a summary from IRD (31/3/20).
Whatever business you're in, covid-19 reinforces the only thing certain (apart from death and taxes) in life is change.