As many business owners look to life after COVID-19, an important question comes up: how do we plan to reopen our business? For most businesses, the easing of restrictions doesn’t mean an overnight return to “business as usual”. There are rules and regulations in place about how businesses can operate, including how many people can be on their premises at one time and how employees must be protected. Customers may… Read more
Hello for another week! We hope you are staying healthy and well. The big news late last week was the government’s three-step plan to relax coronavirus restrictions. It’s great news for our country and our economy – well done to everyone for playing a part in “flattening the curve!” Plans to reduce restrictions Each state will work independently to implement their own three-step plan, at their own pace. State government… Read more
In this week’s update, as well as some updates on government support for businesses, we’ve included a number of resources to help with navigating your business out of the dire situation we’ve all been in. No doubt there are still tough times ahead but there are many reasons to be hopeful and we’re here to help you through it all. JobKeeper The first JobKeeper payments are expected to flow… Read more
During difficult economic times, having large cash reserves is such a lifeline. But often, when we most need it, the cash is just not there. So how do we build our cash reserves? Your “war chest” is the financial reserve your business has built up so you can take advantage of an opportunity or cover unexpected costs or emergencies. Building a cash reserve when finances are tight, however, can be… Read more
The Covid-19 Pandemic is far from over. Like any other event that impacts the world, we don’t know what the future will be like, but we do know that the other side of this will require resilience and creativity from all of us. In the spirit of resilience, we have put together some useful resources to help you. JobKeeper is all we have been thinking about and dealing with lately,… Read more
JobKeeper, decline in turnover tests, eligible employees, non eligible employees, cash boost, state government grants, unfair legislation, cash flow problems. Somehow, it seems I am responsible for all the shit that has happened in the past 5 weeks. But I am here to tell you I am not. I actually have no involvement in the process of government decisions becoming legislation. I have no involvement in how the ATO interprets… Read more
Working out your eligibility for the JobKeeper wage subsidy is a bit of a mine field. April 202 v April 2019, March 2020 v March 2019, cash v accruals – but what if your business has irregular income? What if you were not in business this time last year? The ATO has just released Alternative Tests for the JobKeeper payment which expands eligibility from the initial basic test. This is… Read more
Most small business owners face a time in their career when they have to communicate in ways or about topics they aren’t comfortable with. COVID-19 has put business owners in the position of having many conversations that are uncomfortable and stressful. Whether you’re communicating with employees about business issues during the pandemic, hoping to negotiate a rent reduction or changes to credit terms, or asking customers for help in keeping… Read more
We’re back for another week! Hopefully you had a nice Easter break. Or if like most small business owners, you were reading, learning and listening to all the updates around Jobkeeper, JobSeeker and the Cash Flow Boost. There is a lot to get your head around, so here are the latest updates from us. Many of us are adjusting to a new normal of staying home as much as we… Read more
Some good news for commercial tenants amid the Coronavirus downturn. Commercial leases are such a huge cost, and whilst we get that landlords also need to make an income, unless a compromise is made between landlord and tenant, there could be plenty of empty shops soon. Prime Minister Scott Morrison announced some new measures for landlords and tenants yesterday (Tuesday 7th April). The new mandatory code will apply to tenancies… Read more
At times when the economy is struggling, clients are struggling, we are all emotionally fragile, it pains me to send out a post saying that we will be saying no to some clients, and to certain activities requested of us. JobKeeper and the economic cash boosts is not a free for all. And it is certainly not the time to be creating dodgy business practices. We simply will have no… Read more
As we try to catch a breath from all the chaos going on with Coronavirus, we just got word of the Australian Government’s latest stimulus package. This package focuses on the ‘job keeper’ payment, aimed at helping businesses keep their staff, which will be a lifeline for many people over the coming months. Here a very quick overview of what it means as we know it right now (keeping in… Read more
It’s hard to escape the news of the Coronavirus as it continues to have a huge impact on people across the world. Closer to home, the Morrison Government has announced a stimulus package in response to the anticipated economic downturn. This package includes a number of economic stimulus measures for the 2019/20 and 2020/21 income years, with most of targeted at helping small to medium-sized businesses. Here to help But… Read more