A blog on issues affecting Australia's newsagents, media and small business generally. More ...

Month: April 2020

NZ government closes non daily newspapers

Kiwi blog has this story:

Govt closes down all non daily newspapers

The Government announced:

  • The current focus for government and all New Zealanders must be on minimising the movement of people to stop the transmission of Covid-19

  • In relation to news and  this applies both to the movement of staff of  organisations and their supply and distribution lines

  • The focus for news and media as an essential service has to be on the provision of timely news and current affairs

  • Daily newspapers are currently included in the definition and are expected to take strong measures to ensure safety of staff and the public; combined with their digital reach, they remain essential at this stage for the timely dissemination of news to the majority of New Zealanders

  • Printed periodical and non-daily publications are not considered essential under the news and media designation

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Media disruption

Ovato seeks help from banks

This story The Australian just now:

Printer Ovato cuts pay by 40pc, seeks bank aid

Australia’s largest printing company, Ovato, is seeking help from its banks amid the coronavirus crisis and will slash pay by 40 per cent for most of its staff, including all executives and board members.

Ovato, previously known as PMP Group, said ANZ and Assetsecure have agreed to waive the testing of financial covenant ratios.

It is also working to secure “similar waivers and covenant relief from noteholders” of the $40m secured subordinated notes due in November 2022.

Chief executive Kevin Slaven said the company is working to ensure its expenses match its revenue during the economic uncertainty.

“While this uncertainty continues, Ovato remains confident in its ability to maintain our service standards with plants operating in all Australian states, albeit at reduced capacity,” Mr Slaven said in a statement released late on Tuesday night.

Chairman Michael Hannan said the group is facing the “unprecedented crisis with the most experienced management team in the industry”.

“We have acted early and are adapting to the daily changes. We have managed capacity by shutting down equipment at all sites, while retaining the flexibility required to ramp up or down quickly.

“I am proud to say that we have had good co-operation from our entire workforce, which will see an effective 40 per cent pay reduction for most of our staff, including all executives and board members,” Mr Hannan said.

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magazines

State governments support small businesses

Newsagency marketing group newsXpress, of which I am a Director, in its daily support email to members, included this list of financial support from state and territory governments, which you may find useful:

State government support packages.
Here are links to state / territory government support packages announced to help businesses through the COVID-19 situation. While each state has different rules, some will allow the packages to be used for useful things such as website development and other activities that support the operation of the business. Please click on the appropriate link for your location and read up what you may be able to tap into. The text for each state is from the government websites.

  1. Victoria. $10,000 grant that could be used for business improvement including web development or similar.
  2. ACT: Earlier in the month, the government released a recovery plan, including a $20 million business improvement scheme. Under the scheme, businesses will be eligible for grants of $10,000 for improving business premises. This can include new equipment, new fit-outs and physical changes to attract customers. It is not currently clear what is required for eligibility. If they can also contribute $10,000 of their own, they will receive an additional $10,000, for a total of $30,000 funding.
  3. NT: $20 million All Territory businesses will be able to access a $10,000 grant, followed by an additional $10,000 grant if they contribute $10,000 of their own.
  4. Western Australia: No grants as such, other than the Lotterywest announcement from Monday. However: The WA Government will waive rental payments for small businesses and not-for-profit groups in State Government-owned buildings for six months. One-off $2,500 credit on electricity bills for small businesses that consume less than 50MWh per annum.
  5. Queensland. Nothing substantial for small business here.
  6. Tasmania. Several grants available, somewhat limited in scope and subject to eligibility.
  7. New South Wales. Several options available, somewhat limited in scope and subject to eligibility.
  8. South Australia. Nothing specific yet.

Our advice is that you carefully read the information for your location and that you then apply for every thing you could possibly be eligible for.

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Newsagency management

Pandemic selling out

Yeah, I know it’s April 1, but seriously, Pandemic, the game, is selling out. It’s been a hit. We jumped on a couple of months ago and are grateful for the insider supplier tip.

Pandemic is another early adopter move that has provided some welcome sunshine in an otherwise challenging time for retail.

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Opportunistic retail
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