Business Update – 23 September 2021
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you.
End of Lockdown in Sight for Melbourne
Melbourne will exit its coronavirus lockdown in late October if vaccine targets are met. The city has been under lockdown since August 5, but restrictions could be lifted when 70% of those over 16 years old are fully vaccinated. They projected that target would be reached around 26 October.
Victoria’s construction sector shutdown due to non-compliance with COVID safety rules
Most of the Victorian construction industry has been put under a two-week shutdown.
The shutdown affects the sector in metropolitan Melbourne and other local government areas that are subject to lockdown restrictions, which are the City of Ballarat, City of Geelong, Mitchell Shire and the Surf Coast Shire.
The construction sector will not simply restart in a fortnight’s time if ongoing COVID compliance issues continue.
Victoria’s Health Minister Martin Foley said the vaccination rule would stay, with workers allowed two weeks to get their first dose.
The COVID-19 Disaster Payment, Pandemic Leave Disaster Payment may be available for impacted workers.
Ballarat to Exit Lockdown on Wednesday
At this stage Ballarat will exit its seven-day lockdown on Wednesday night. However, there will still be restrictions in place including the mandatory wearing of masks indoors and outdoors and no home visits.
Moderna COVID-19 Vaccine Available at Selected WA Pharmacies
Western Australians 12 years old and above can receive a Moderna COVID-19 vaccine from selected pharmacies. The first distribution of Moderna is expected to reach selected pharmacies between September 27 and October 2.
COVID-19 Government Support By State and Industry
Small businesses that are currently suffering from lockdowns can get financial assistance to help them get through the pandemic. You can find the latest government support schemes for each state or territory here.
The impacts of the COVID-19 restrictions vary from one industry to another. Here you’ll find the latest government financial assistance available for particular industries.
All Australian hotspots: COVID-19 Disaster Payment for recognised lockdowns
This Federal Government support is lump sum payment for workers who cannot earn income because of a state public health order. You can check your eligibility here.
Cash Grants for Tourism and Hospitality Businesses in SA
Hundreds of local tourism and hospitality businesses in South Australia have already started receiving new $3,000 and $1,000 cash grants, as part of a joint Federal-State Government small business support package. You can find more information about support grants in South Australia here.
The NSW Government will be offering financial support to businesses or not-for-profit organisations impacted by the recent COVID-19 restrictions and stay-at-home orders.
NSW: Micro-business grant
The micro-business grant is a $1500 fortnightly payment for businesses with a turnover between $30,000 and $75,000.
To check your eligibility and apply, visit the Service NSW website.
COVID-19 Business Grant
A one-off payment to help businesses, sole traders or not-for-profit organisations impacted by the current Greater Sydney COVID-19 restrictions.
Grants between $7,500 and $15,000 are available to eligible businesses depending on the decline in turnover experienced during the restrictions. For eligibility criteria and to apply, visit the Service NSW website.
ATO support for those affected by COVID-19 restrictions or disasters
The ATO has a range of support options to help those affected by disasters or those experiencing challenges due to continuing COVID-19 restrictions.
The ATO may be able to:
- prioritise any refunds owed to you
- set up a payment plan tailored to your individual situation
- remit penalties or interest charged during the time you have been affected.
If you need help to manage your tax or superannuation obligations, please get in touch with us.
JobMaker Hiring Credit
Eligible employers can access the JobMaker Hiring Credit for each eligible additional employee they hire between 7 October 2020 and 6 October 2021. You may be able to claim the following payments:
- up to $10,400 over a year for each additional eligible employee aged 16 to 29 years
- up to $5,200 over a year for each additional eligible employee aged 30 to 35 years
Register before the due date of the first JobMaker period you’re claiming for.
Wage Subsidy Scheme for Apprentices and Trainees
The government is continuing the wage subsidy scheme for apprentices and trainees. Under the scheme, the government will pay half the wages of apprentices up to a maximum of $7,000 each quarter for 12 months.
Tips for First-Time Business Owners
First-time founders often waste time and resources during the early stages of building their business because of the knowledge gap on how to efficiently start a company. In this Forbes article, seven tips have been shared for the successful launching and running of a business.
- Create an online presence. Build brand trust by having a beautifully designed website and polished online presence that potential customers, investors, and staff can visit.
- Find an organisation system that works for you. Have one place to store all your information, manage to-do lists, stay aligned on big-picture ideas, manage data, plan out product and content calendars, among other things, so you can run your business more efficiently.
- Stay on top of your finances. You’ll become a more strategic business owner when you keep your finances on track and understand your cash flow.
- Learn to block your time. Scheduling your time is key– block out hours of your time on your calendar to focus on certain projects.
- Don’t skimp on HR and payroll. Ensure your HR and payroll are taken care of so you can have peace of mind. It’s recommended to invest in a platform that can help keep these aspects of your business running smoothly.
- Remember that you don’t have to start from scratch. Helpful templates and resources are available everywhere– you don’t have to start everything from scratch.
- Keep confidential information confidential. Limit who has access to proprietary information.
Your most precious resource is your time. So if you want to find more ways to save time and focus on building a thriving business, get in touch with our advisors today!
Get in touch
Contact us if you have any questions or want to discuss the next steps for your business.