Covid-19 Business Update

Apr 14, 2020

March 2020 - what an unbelievable month it’s been! Filled with a constantly changing landscape, confronting situations, fear and uncertainty, it’s been difficult for many of us. But, like all challenges, dealing with the impact of Covid-19 is a matter of placing focus on what you can control, managing these facets well, and accepting that there are aspects of this current situation that you cannot control. By mastering this, your stress levels will be significantly reduced and day-to-day life will be easier for you and your families.

We hope you are well and coping with the new world we currently find ourselves in. 

Our rapidly changing environment requires an ability to adapt quickly and effectively. To ensure the long-term viability of your business, you may need to change not only the way you do business, but also the way you interact with and support your clientele. 

Government Assistance for Business

In the current climate there may be the potential for you and your business to save and access thousands of dollars via government assistance. At EBS, we strive to ensure that your business receives everything it is entitled to. Below are a number of links that we strongly suggest you review to ensure you receive all the assistance you are entitled to. 

If you have any questions, or want to discuss how these options personally impact you, please feel free to contact us to discuss further. 

Mental Health Awareness in Business

It is important to be aware of the social and emotional toll (see Mental Health link below) that this situation is having on everyone. We believe that you need to make this a priority and take the time to support yourself, staff and clients in this area. Recently listening to a webinar, the line ‘Put on your mask first’ really stood out. While this may sound selfish, it is good advice. In reality if you don’t get you right, you won’t be able to help others.

Communication 

As a leader, you may feel overwhelmed and unsure in these circumstances. In fact, you are probably in the minority if you don’t. At EBS, we are not experts about Covid-19, but in an effort to help you navigate these strange days, we have gathered as much credibly-sourced information as possible. Here are some ideas to help you communicate with your team and clients: 

  • Don’t be scared to admit that you don’t know. 

It is OK to not have answers. We have never been in this position before, but it is important to communicate with staff and clients as transparently as possible. In the absence of quality communication, people generally fill the gap with their own perceptions, which then become their reality. Simply acknowledging that you do not know the answers, but that you will find out and get back to them will assist greatly. 

 

  • State what you do know

Communicate what you believe is true - and do it regularly and effectively. A good example is ensuring that all your team and clients are fully aware of what you are doing to mitigate the risk of catching Corona – whether it’s your hygiene and cleansing routine, or work from home plans.

 

  • Borrow little gems from others

When you find specific gems of information or advice  through your research, customise them for your business and share them with your team and clients. Expert advice is greatly sought after and appreciated in these times. Please see the link below from one of our wonderful clients (Connect Chiropractic) on working from home.

 

  • Establish how and when you are going to communicate.

Due to the ever-evolving landscape, the consistency of your information is going to be appreciated by your team and clients. As a business leader, make sure that the ‘how and when’ of all communication is clearly explained and met. 

 

  • Allow your team and clients the opportunity to ask questions.

Staff and clients are also going to feel unsure, so allow them to have an outlet to discuss their uncertainties with you. Everyone is worried, stressed and in an unusual situation, so be approachable and considerate.

Over the next few months, the four main focal points for you and your business are:

  • Stay safe and healthy
  • Take control of what you can control. Do not spend time worrying about those things beyond your control
  • Adapt and communicate effectively to your staff and clients
  • Remain positive at all times

With support from the E.B.S. Team.

 

 

Corona Assistance Packages Links

VIC GOVERNMENT PACKAGES

  • 10K Government Grant

https://www.business.vic.gov.au/disputes-disasters-and-succession-planning/illness-and-business-management-plan/coronavirus-business-support  

 

FEDERAL GOVERNMENT PACKAGES

  • Overall

https://treasury.gov.au/coronavirus 

  • Job Keeper

https://treasury.gov.au/sites/default/files/2020-04/Fact_sheet_Info_for_Employers.pdf

https://treasury.gov.au/coronavirus/businesses 

  • PAYG Cash Flow Boost

https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet-Cash_flow_assistance_for_businesses_1.pdf  

  • Apprentice Support

https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet-Cash_flow_assistance_for_businesses_1.pdf  

  • Changed Creditor regulations

https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet-Providing_temporary_relief_for_financially_distressed_businesses.pdf  

  • Instant Asset Write off Changes

https://treasury.gov.au/sites/default/files/2020-03/Fact_Sheet-Delivering_support_for_business_investment.pdf 

  •  SME 250K Loan Guarantee Scheme

https://treasury.gov.au/coronavirus/sme-guarantee-scheme 

  • Superannuation Withdrawals

https://treasury.gov.au/coronavirus/households  

  • Business Continuity Plan

https://www.business.vic.gov.au/tourism-industry-resources/Business-Tools-and-Support/crisis-management-guide/plan/business-continuity-plan 

 

Working from Home

Dr Nicole Hudson from Connect Chiropractic has recently shared Facebook and blog posts with some helpful tips and tricks on working from home. 


Mental Health

https://www.lifeline.org.au/get-help/topics/mental-health-and-wellbeing-during-the-coronavirus-covid-19-outbreak

Contact us now

If you need guidance to grow your business or if you are planning to Buy or Sell your business