We’ve all been impacted by the global economical fallout of coronavirus. We can’t promise your business will survive but this moment in time will pass eventually. The trick is to hang on if you can – we’re cheering for you.
The business landscape will definitely be different over the next year or so. While we can’t predict the future, we can take advantage of government incentives, education, and offers by others to ease the journey. Try to play the long game and plan for a brighter future with or without your current business model. Look for opportunities.
Coronavirus is history-making, so keep in touch with your BAS Agent bookkeeper, accountant or industry professionals for the latest changes in legislation and obligations. Monitor information daily. These tips are by no means exhaustive but we hope they spring forward some ideas to carry you through the coming days and weeks.
PIVOT
Is there an opportunity to change your business model right now? Aside from sales, the most common challenge is getting customers to engage with your business in the flooded online environment, so consider how you can go to them or give ‘evasive’ service. For example, we’ve noticed some restaurants and cafes quickly pivot to be only drive-up, drive-through, take-away or home delivery to keep the customers buying and comply with coronavirus regulations. Can you sell a product that is difficult for a customer to buy at more general places, such as Coles and Woolworths? Look at some local wholesalers that would normally not be on your radar – they will be grateful for your business. Be careful with your ideas though as you don’t want to end up stuck with useless stock. What about a new way to offer a service, perhaps as an online alternative? The fitness industry has pivoted at lightning speed in this area. Be fluid and creative.
WEBINARS
Check-in with your local industry groups and professional organisations for fact sheets and webinars that are specific to your industry. There are a plethora of valuable resources being created on the daily for businesses, just like you. We’ve got your numbers covered, while they will have the latest on the trends, supply chain insights, regulations, and more, that you need to know about. It’s a team effort!
Numbers Australia Founder, Chris Green, has been involved in a number of coronavirus webinars across multiple industries, particularly for the food industry. You can watch some of those on Silverchef’s website here.
FREE MEMBERSHIP TO CCIQ FOR 1 YEAR – value $792
Chamber Of Commerce & Industry Qld is offering their $792 membership for FREE for 1 year. But you have to sign up before 31 March 2020. This is a genuine offer to assist all businesses. Not since the GFC has business endured such an impact after a rolling wave of bush fires, drought, and now a virus outbreak. The Victorian Chamber of Commerce and Industry has offered a deal with reduced membership.
Sign up here. Open the link and scroll to the bottom of the page to the sign up button.
You will receive:
- Unlimited HR Helpline advice
- Modern Award (pay rate) updates
- Free registration to all webinars
- Policy & procedure templates
- Member only news, videos, downloads.
- Access to CCIQ member directory
This is an incredible offer. Even I’ve signed up!
HARD HITTING INDUSTRIAL RELATIONS EXPERT ADVICE
Industrial Relations expert Craig Pollard, consults to National Baking Industry Australia. He has done a live Facebook presentation to answer questions on your rights to stand down staff, sick leave entitlements and no pay situations. This is 15 minutes of hard-hitting information that you can’t miss – so you can implement compliant strategies and make decisions about staff to suit shrinking revenue.
Watch here.
TELCOS
Telecommunication companies are starting to soften. Amaysim has just announced free unlimited mobile data until 31 July 2020. Telstra and Optus are offering unlimited download until end of April. Do check with your provider to make sure what you are entitled to the benefits because there are conditions on some of the offers. You don’t need bill shock at this point in time.
YOU
Remember – you are the most important part of the COVID-19 puzzle. While you can’t solve the problems of the world, you can keep yourself mentally and physically well. Take a moment out for just you. You can’t take on business challenges when you’re running low on fuel yourself.
Make plans into the future while you tackle the day to day stuff. This will pass. The world will make some adjustments and everyone’s situation will be different – but that’s ok. You got this!
Keep an eye on our other Numbers Australia article for the latest financial relief packages and coronavirus business info.
