Your Business Health during the Coronavirus
My Business Health has been put together by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) to help small business who are affected by the coronavirus and its ripple-effects.
It offers simple and practical information to help small business owners navigate everything that's happening in this difficult time; latest information on government support measures, assistance with employer obligations, finances, available government payments, loans and tax.
The ATO has also set up a page which they call a 'one stop shop' for essential tax and superannuation information with regards to the changes that have now become law. Please keep in mind that superannuation obligations still need to be met.
We are already seeing that if the business has been allowed to stay open, many business owners are having to put staff on stand-down (or lay them off entirely) and work within the business to keep it going so there's something to come back to which may include reducing their own salary. This has a huge mental drain as not only are they worrying about being able to pay the normal bills, they want to keep their staff on, they want to be able to offer them a job when life 'returns to normal', but all that additional time IN the business to keep costs down at the moment means there is less time for them to work ON it, or spend time with their family in a meaningful way (or even go surfing etc).
It's a ridiculously tough time, even for those that aren't struggling as much as they too are worried about what might happen to them in the near future.
Sure, the governments are offering financial incentives, and while it helps a little (and only some), is it enough to ease some of the mental burden on the business owners?
This is where we come in. We want you to know that we care, that we want you to succeed and flourish, that we understand what it means to be a small business owner and what the stress feels like. We also want you to know that if you need a shoulder to lean on (figuratively of course), that we are happy to listen (sometimes, all we need is an ear, not necessarily advice).
Of course, we can help you navigate the maze of legalese and look at the figures to see where you've come from, where you might be going and how we might be able to stave off the worst (let's face it, no business really wants to close down for good - and especially not because of a virus). We can have the hard discussions on your behalf - it's an emotional topic and when you are deeply intwined in it, it's hard to stay stoic. We understand the stresses (believe me, we've been stressing) in being a small business owner, in managing staff and having to have hard conversations, in being solo and taking it all on yourself, in worrying about where the next dollar to pay the mortgage is going to come from, how hard it is when we feel like we're alone with no one to talk to (but we all do), in being excited for our clients because they have achieved some of their financial goals and can help their staff out in being able to live in these times. In good times and bad, we're here for you. We care about you and your business and we want you to succeed; we are in this together.
Please call or email and if we aren't able to respond straight away, we endeavour to do so within 24 hours. If the phone isn't answered, please, leave a voicemail so we know who to call back (spammers are still going strong unfortunately).