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COVID-19 What Can Businesses Do Now

What Can Small Businesses Do Now?

In response to the many enquiries that we have received in these extremely challenging times for all businesses in our region, we have been collating and distributing information as it has been made available.

The majority of enquiries are from businesses unsure of what their next move should be and how they might review and prepare their business for the challenges moving forward.

Below is a guide we have put together to assist business work through “What can small businesses do now” which includes some practical steps to assist with your business review. Below is a link to a video by Kate Carnell, the Australian Small Business and Family Enterprise Ombudsman verbalising similar areas for considerationhttps://www.asbfeo.gov.au/news/news-articles/covid-19-what-small-businesses-can-do-now

What Can Businesses Do Now What Can Businesses Do Now (252 KB)

Australian Government JobKeeper Payment

The Australian Government has announced a $130 billion JobKeeper Payment to help keep more Australians in jobs and support businesses affected by the significant economic impact caused by the Coronavirus.

The JobKeeper Payment is a temporary scheme open to businesses impacted by the coronavirus and will also be available to the self-employed. 

The Australian Government will provide around 6 million workers a fortnightly payment of $1,500 (before tax) through their employer.

The payment ensures eligible employers remain connected to their workforce and will help businesses restart quickly when the crisis is over.

Relevant Fact Sheets regarding the payment, which cover Frequently Asked Questions and outline steps for Employers and Employees and further information is available from https://treasury.gov.au/coronavirus/jobkeeper

If you require assistance working through the process please contact one of our team and we will be happy to assist – contact details for our team available from http://www.rdafn.com.au/contact

SA Government $10,000 Emergency Cash Grants for SME and NFP's

Small businesses and not-for-profit entities that employ South Australians who have been highly impacted by the COVID-19 pandemic may be eligible to receive a $10,000 grant to support the operation of their business.

The grant is being funded from the State Government’s $650 million Jobs Rescue Package.

To be eligible, businesses and not-for-profits including eligible sporting and community organisations will need to:

-Employ people in South Australia.
-Have annual turnover of more than $75,000 (GST exclusive).
-Have an annual payroll of less than $1.5 million, and not be entitled to a payroll tax waiver under COVID-19 support measures introduced by the South Australian Government.
-Have an ABN and were carrying on the operation of the business in South Australia on 1 March 2020.
-Have been subject to closure or highly impacted by COVID-19 related restrictions.
-Apply by 1 June 2020.
-Use the funds to support activities related to the operation of the business.

For more information and to register your interest go to https://www.treasury.sa.gov.au/Growing-South-Austr…/COVID-19

Australian Government Fact Sheet - Delivering Support for Business Investment - https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet-Support_for_business_investment.pdf?fbclid=IwAR1xstnmDUV5TjhcBaI9Eo6VNPJ_dTPyxOj-fnQUdxCyvYW9K3u1p0-krHE

Smart Company Advice for the Self-Employed - https://www.smartcompany.com.au/coronavirus/self-employed-stimulus-covid-19/?mc_cid=49002074bb&mc_eid=a4eeedb1ab

The following flowchart was presented as part of a Business Resilience Webinar conducted by Business SA on 25 March 2020.  It is published below for reference.  For more information on the webinar or to access the recording visit Business SA at https://www.business-sa.com/businessresilience?fbclid=IwAR3HmdZqZDie-SeTM4rpT_AOqaJPGTVld_Vu-9YMwTN7CGpovZOFDOjBqSw