In an effort to get businesses up and running again as soon as it is safe to do so, the National Retail Association (NRA) has released a 10-point retail recovery plan.
The plan is designed to save thousands of jobs and NRA CEO Dominique Lamb urges the Federal and State Governments to adopt the entire plan.
“At both the Federal and State Government levels we have already seen very strong and rapid responses to this health and economic crisis,” she says.
“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.
Last week Lamb already criticised the planned minimum wage review. At a time where businesses are laying off thousands of workers nationwide, there was no way that retailers could sustain any increased cost pressure in the foreseeable future.
“In this environment, retail business owners cannot possibly absorb a wage increase. Indeed, even the consideration of increasing wages at this point is merely adding more trauma and stress to what is already an extraordinarily difficult business environment for many small operators.
“The annual wage review must be delayed for at least six months, so we can get a clear picture of the true impact of coronavirus on businesses and the economy.”
She says many businesses were doing their best to maintain their staff levels, but additional wages costs would undoubtedly be the tipping point for many.
“If retailers are forced to increase wages while their revenue and customer base fall apart, the only possible outcomes is that they will be forced to lay off staff who might otherwise survive.”
Lamb adds that 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.”
