Coming Out Stronger

What does the future look like?

2020 and the COVID-19 pandemic has brought significant challenges for many people, including business owners.

While we are starting to see an easing of restrictions and a return to (Covid) normal the impact of these challenges cannot be underestimated.

While we cannot be sure of what’s ahead, it’s important to be looking forward and planning for your future.
If you're a small business owner, you can become more resilient and in control by applying these few strategies.

Coming Out Stronger Strategies

If you have been receiving JobKeeper 1.0, forecast your eligibility for JobKeeper 2.0 and 3.0
Prepare and maintain a cashflow forecast with and without JobKeeper
Know the key dates where Government support changes, reduces, or ceases
Prepare a breakeven analysis for various scenarios
Regain perspective by booking a meeting with your bookkeeper
Set a regular review meeting to review and interpret your monthly numbers and key indicators
Do a check of your first quarter profits and do a forecast of your future profits to work out if any 2021 tax needs to be set aside
Document your future plans for your business - immediate exit, gradual exit, continuation, diversifying
If you haven’t already done it, get your 2020 Income tax done or scheduled for completion as soon as possible
Review your systems and processes to see where improved efficiencies can be made, especially through the introduction of apps that can reduce paperwork (and the time involved) considerably

If you are seeking advice on business Apps, we specialise in understanding the different options for different industries and businesses. We provide you with insights and guidance on what Apps would best suit your business.

Or, if you're interested in any of these measures contact us to discuss how we can help you become more strategic, resilient, and in control.