Australian government COVID-19 stimulus packages are not enough.

Posted by Philip Wong on

Australian small business support

The Australian government stimulus packages for small-medium businesses are absolutely fantastic support for us, mine included.   These packages are not likely to be sufficient to sustain your small businesses going forward.  What on earth can you do?  What is Plan B?

The downside as I work through the details is that these stimulus packages, generous as they are - are unlikely to be sufficient to sustain my business for long.

As an accountant and business analyst, I know this to be true.

It is impossible to paint with broad brush strokes everything that every business expects, given the volume of the broadcasts from the media and daily TV sound-bites. 

Why?  Because of the lack of detail.

For example, were you aware that you need to lodge all your business activity statements, tax returns, and be registered for Single Touch Payroll - even before you can get a look-in?

The answer is to first to get a handle on your specific business needs and requirements.  Then we can look at the ways you can go about securing additional finance.  Here is a decision-tree infographic.

 

A Cashflow Projection

 A cash flow projection is what you need to see if you can devise alternative scenarios, known whether you need to stand-down unproductive staff, or cut costs that are not producing return on your investment.

For more info - feel free to chat to see how I can help  

 


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