10-Point Retail Recovery Plan to save thousands of businesses and jobs

The National Retail Association has today released a 10-Point Retail Recovery Plan, designed to save thousands of businesses and jobs.

NRA Chief Executive Officer Dominique Lamb urged Federal and State Governments to adopt the entire plan, saying it would get businesses up and operating again as soon as it was safe to do so.

“At both the Federal and State Government levels we have already seen very strong and rapid responses to this health and economic crisis,” Ms Lamb said.

“Some of the points in our plan have been partially implemented, and some no doubt are in the pipeline.

“And while we understand that the National Cabinet has a lot on its agenda, we urge the rapid adoption of the NRA’s 10-Point Retail Recovery Plan to get businesses back on their feet as quickly as possible.”

The plan includes:

• Ensuring a consistent approach across all states to the National Rental Relief Scheme;

• National Wage Subsidies, to get money into workers’ hands quickly;

• Deferral of the Minimum Wage Review;

• Further financial support for sole traders, micro business and small business;

• All states to freeze Land Tax payments

• Banks to freeze loan repayments, not defer them or compound the interest;

• Federal fund for significantly impacted industries – tourism, fitness, hospitality and retail;

• Investment in digital upskilling for business;

• Begin work on a retail recovery plan, to help businesses reopen as soon as it is safe to do so

• Fund a consumer confidence campaign, to get shoppers backing local retail as soon as possible.

Ms Lamb said the idea of national wage subsidy would get money into the pockets of workers much faster than a welfare scheme, because the payment channels were already in place.

“Part of the challenge is finding the right policy solutions, and part of it is implementing them as quickly as possible.

“Retailers are very keen to be part of the solution. We look forward to engaging more with both levels of government to get business moving again as soon as possible.”

4 Comments

  1. Brad Ward on 31 March 2020 at 11:17 am

    The Government and NRA have missed a significant slice of the business community. Self funded small business will, under the Governments latest offering. have a viable workforce but no business owners. There is almost no support for the owners of business who have to continue to pay high leasing costs. Hence, the business will collapse but the workers survive. The only real way to keep businesses viable in post Covid world is to subside rent, not drive the businesses deeper into debt.

    • Rebecca Goulter on 31 March 2020 at 11:21 am

      Thanks for your comment Brad. This is why we are working with several other associations on ensuring a consistent approach across all states to the National Rental Relief Scheme. We will continue to update.

  2. Helen Lomakin on 1 April 2020 at 4:22 pm

    There’s support for the employees however very little for the actual small business owner. They too need to survive why aren’t they eligible to receive the $1500 ?

    • Rebecca Goulter on 2 April 2020 at 9:25 am

      Hi Helen, we’ve compiled all the support available on nracoronavirus.net.au. If you’d like to reach out to info@nra.net.au we could talk further?

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