We are pleased to present the EMA's 2020 Annual Report
Kia ora koutou members, stakeholders and partners,
We are pleased to present the EMA’s annual report for the financial year to June 30 2020, which has been a challenging one, for us all. Over the financial year to June 30 2020 the EMA returned a net profit from continuing operations of $397,335, with an overall surplus before other comprehensive revenue and expenses of $120,667.
This surplus largely reflects funding we received to implement and run the Government’s nationwide Business Helpline, and the wage subsidy following the loss of more than 30 per cent of our revenue in March mainly in learning, conferences and events because of COVID-19.
This impact on our services revenue continued to be a challenge for the rest of the financial year.
We are proud that our membership has remained stable and that we have been able to provide more support than ever for the business community, and what has been satisfying over the past year is how many businesses we have been able to help get through, transform and grow.
We have worked more closely than ever with Government to focus on solutions to business issues over this unprecedented time, and continue to do so and lobby for the best support for our members and business environment for the community as a whole.
Our staff have shown extraordinary resilience, our management team such positive leadership, and with the guidance of our board have helped the organisation pivot to meet the needs of members. In particular we advanced our digital capability to help keep them up to date with timely, practical information, policies and insights, and transform the EMA into the future.
We have also been pleased to work much more closely with the BusinessNZ network to provide one, cohesive voice for business and to provide services nationwide, something we are looking at doing more in the coming year.
Now it is a matter of really focusing on the biggest challenge of transforming the country’s economy and the business environment. We need to get the policies in place that enable us to carry out this transformation, which is also necessary for many of our industries, and ensure fit-for-purpose regulation so members can thrive.
We thank you, our members, for your support and input into everything we do. We will continue to support you – advocating for you, bringing you insights and information, offering you learning opportunities, and create the services needed to help you succeed.
If we can help you in any way, please do let us know.