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Sectors such as retail have been hit particularly hard by Covid-19 and successive lockdowns.
Many economists predicted a plummet post Covid-19. But the softening effect of government subsidies, quantitative easing, and mortgage holidays saw many New Zealand businesses come out of 2020 relatively unscathed.
A year on, there are storm clouds on the horizon. Government assistance is subsiding, loans will need to be paid, and businesses cushioned by the various measures may have a hard landing ahead.
Colin Gower, head of business restructuringwith accounting firm BDO, says the real economic impact of Covid-19 is likely to mirror that of the global financial crisis (GFC) in 2008.
“With the GFC there was quite a delay [in the …
Read the full article at: https://www.stuff.co.nz/business/industries/124653976/postcovid-road-to-recovery