In addition, the Government is guaranteeing 80 per cent of each loan under the expanded scheme (up from 50 per cent). Support has also been provided by the private sector. Landlords allowed for more flexible rent arrangements and banks offered to defer loan payments.
Along with the country's successes on the health front, these policies have lessened the economic impact of the pandemic and underpinned the economic recovery that is now well underway. The effects of this have started to flow through to small businesses. Measures of small business confidence have increased over the past 6 months.