No images? Click here COVID-19 Update #3What can Small Businesses do now?In response to the many enquiries that we have received in these extremely challenging times for all businesses, we have been collating and distributing information as it has been made available. 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. Wage relief is on its way with the recently announced Commonwealth Government's $130 billion JobKeeper support package. This will help save thousands of SA jobs and covers all industries. Other highlights include accessing Facebook and Google's funds to promote your business and resources to keep your business safe from crime and the latest on COVID-19 related cyber-attacks. Council has established a Small Business Task Force that will provide consistent and up to date information to City Businesses on support packages and other services available from Commonwealth, State, Local Government, Peak bodies and Industry Associations. The team will be in regular contact with our city businesses and precincts. We would like to hear from you to understand how we can help you. Please contact business@cityofadelaide.com.au or call us on 8203 7203 Commonwealth Government SupportThe Commonwealth Government is supporting Australian businesses to manage cash flow challenges and retain employees.
For information on
the Commonwealth Government’s economic response to the COVID-19 outbreak refer to: treasury.gov.au/coronavirus. The payment will be paid to employers, for up to six months, for each eligible employee that was on their books on 1 March 2020 and is retained or continues to be engaged by that employer. Where a business has stood down employees since 1 March, the payment will help them maintain connection with their employees. Employers will receive a payment of $1,500 per fortnight per eligible employee. Every eligible employee must receive at least $1,500 per fortnight from this business, before tax. The program commenced on 30 March 2020, with the first payments to be received by eligible businesses in the first week of May as monthly arrears from the Australian Taxation Office. Eligible businesses can begin distributing the JobKeeper payment immediately and will be reimbursed from the first week of May. Register your interest in JobKeeper Payment on the ATO website, or visit business.gov.au for more detailed information on this new support package. What can Small Businesses do now?The COVID-19 crisis is presenting immediate and severe financial challenges for businesses. The Decision Tree above was presented as part of a Business Resilience Webinar conducted by Business SA on 25 March 2020. For more information on the webinar or to access the recording visit Business SA. For a host of other Business SA resources, guides and support see the dedicated COVID-19 support page. There are a range of tips and practical steps that you can take to recover, rebuild and plan for the future. Key steps include: Talk to your bank The Australian Banking Association (ABA) says all small businesses hit by the pandemic will be able to access a six-month deferral of all loan repayments. Take immediate steps to manage your cashflows Look for scope to:
Seek advice Seek advice from your accountant or use an advisory support service for your industry. A business continuity plan documents the steps you need to take to keep your business running and your cash flow coming in. As information around COVID-19 frequently changes, SA Health is providing a round up of health updates and information for South Australians. Upcoming WebinarsThe State Government have collated several webinars and resources available to support small businesses through the COVID-19 crisis. This includes the recording of past webinars Coronavirus: Navigating the Disruption for Small Business- SA Small Business Commissioner (Today) Wed 1st April 4pm-5pm Find out the full range of webinars and past recordings. COVID-19 malicious cyber activityMalicious cyber actors are actively targeting individuals and Australian organisations with COVID-19 related scams and phishing emails. These incidents are likely to increase in frequency and severity over the coming weeks and months. This is due, in part, to the ease with which existing scam emails and texts can be modified with a COVID-19 theme. Find out more with Australian Cyber Security Threat update. Keeping your business safePolice have advised that they are continuing their regular patrols of the City with a focus on locations that are vulnerable and closed. Police have started to see an increase in non-residential theft (theft of liquor along with cash and expensive items left in stores/shops/businesses have been targeted). Whether your business is closed at this time, or you are still trading, the Police SA Business Security fact sheet provides some useful tips. See our full range of crime prevention resources. Facebook and Google offer Small Business CreditsGoogle is offering $340M and Facebook $100M for ad credits for small businesses. $340 million in Google Ads credits is available to all Small businesseses with active accounts over the past year. See here for more information. Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries where we operate. See here for more information and to subscribe to updates. City of Adelaide |