Business Update and Resources
Everyone is doing it tough right now. Okay, there are some businesses that are thriving but in general, things are very hard. This year may require you to pivot your business into other areas, or change the way it operates. Continue to look for the opportunities to shift your business and keep moving forward.
I will keep this page updated with resources so that they are easily accessible for you to come back to.
The most common questions I am being asked at the moment are:
- What help is there?
- Should I get back-up finance? Where should I get it from?
- What can I do about my tax?
In general right now, there are 7 things you need to be covering off on:
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- Cash – Protect Cash and Cash-flow, reduce expenses
- Asset Protection – including petsonal assets like your family home
- Banks and Funding – if you think its going to be needed, get it in place now
- Your Business Continuity Plan
- Employees
- Communication with Customers and Supplies
- Mental Health Support
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Some links below that will be helpful and I will continue to send email updates and post on the facebook page as necessary:
QLD Government Business Support Loans (first year interest free, then low interest)
QLD Business Small Business Support
Brisbane City Council Business Relief
Moreton Bay Regional Council Update
Chamber of Commerce and Indutry Qld – Business Essentials Subscription (free – includes Fairwork Assistance)
NSW Government Health Boost and Economic Stimulus
Fairwork Most Recent Information (updated regularly)
FWC – Standing Down Employees
ATO – COVID-19 Assistance
ATO Media Release – Support Measures
Treasury Economic Response to Coronavirus
Factsheets available from The Australian Treasury
• Cash flow assistance for businesses
• Delivering support for business investment
• Stimulus payments to households to support growth
• Assistance for severely affected regions
Banking:
The following are a list of releases by banks regarding support to their customers as a result of the financial challenges being experienced:
https://www.bendigobank.com.au/help/coronavirus-assistance-package/
https://www.commbank.com.au/latest/coronavirus.html
https://news.nab.com.au/coronavirus-response/
https://www.anz.com.au/promo/covid-19/
In addition, here is a comprehensive list of links to your banks financial hardship teams, from the Australian Banking Association
https://www.ausbanking.org.au/campaigns/financial-hardship/
How We Can Help
These are times when we need to stay calm and rely on reliable news sources and information from State and Australian Government websites. What you see on social media may be panicky and unreliable information – stay away from this! If you are unsure or have questions, please feel free to contact us.
There are 2 options where we can immediately help you.
1. Provide you with a personalised COVID-19 Business Continuity Plan (BCP).
With this option, we provide you a your BCP and you then will need to review it and choose which actions to implement.
2. Have one hour Assistance Meeting with us, where we meet and discuss your personalised COVID-19 Business Continuity Plan and guide you through the best actions to take.
OPTION 1: where we provide you with a personalised COVID-19 Business Continuity Plan, is $150 + GST.
OPTION 2: where we have 1 one hour Assistance Meeting with you (via Zoom) to discuss your personalised COVID-19 Business Continuity Plan, is $350 + GST.
Both of these prices are low compared to the value that you will receive – keeping your business alive, protecting your family assets and helping to keep your employees in their jobs.
If you would like to have a chat to see if I can help you please send me an email tina@runningthenumbers.com.au or give me a call on 0490 096 864.