Updated: Apr 27
Business management to staged recovery
highlight: Reference ABC - Victorian, Australia
Mr Andrews said the first stage of the business survival package would consist of $550 million which would go to 24,000 small and medium-sized enterprises with a payroll of less than $3 million as a payroll tax refund.
It is hoped the cash will help keep about 400,000 workers employed and ease the growing stress being felt by the entertainment and hospitality industry.
Businesses will be able to access the payroll tax cash refunds by next Friday- Victorian
Businesses will be able to access the payroll tax cash refunds by next Friday
Payroll tax that was paid by eligible businesses in the first three quarters of this financial year will be handed back
It will provide businesses with up to $113,975 in cash, with most receiving about $23,000
Australian government released the framework to lift lockdown restrictions e.g. Viable business could access loan (from $250K to 1m) Digital transformation (Sales, Marketing, Procurement, Supply chain, Finance, HR) Global market extension (yes your business could reach out to customers globally) Automation helps you to allocate resources in more critical elements Business restart
Business continuity plan(adaptive) Employee transition
If you need independent advice on Jobkeeper, business modelling(to attract new revenue streams), strategy, marketing, sourcing, distribution channel and talent management, please book an appointment with us. Latest: https://www.business.gov.au/Risk-management/Emergency-management/Coronavirus-information-and-support-for-business/JobKeeper-Payment-for-employers-and-employees
Stimulus to help businesses in Australia
1. Re-engage customers Newsletter, loyalty program to re-engage customers prior reopening the store Social media(linkedin, facebook, twitter, instagram) is one of the best ways to attract new customers
Special offers (on selected date), combo attracts higher spend, so as free delivery (utilise distribution partner)
2. Booking system and offers to space out the 10 people per store limitation yet welcoming customers
3. Hygiene practice to ensure safety of customers and staff, they will remember.
Enjoy gathering with friends with no concern, promote sharing their #Experience via your social media
4. Talent can enable the growth of your business
Discuss with your team the current challenge and collaborate on developing the solutions, this will reduce anxiety of if their job will be hugely affected and what they can do to manage the risk together.
5. Keep the finance clean and have the risk management plan ready. Re-adjust forecasts dynamically and work with the team to manage the demand flexibly. Having healthy cash flow is important, work with your suppliers to negotiate volume/payment terms if possible.
Let's discuss more on how we can bring the economy up and create more exciting jobs.