COVID-19 Business Update

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Flights Between NZ and Western Australia Resumes

New Zealand has reopened quarantine-free travel with Western Australia from midday Wednesday. This comes after it was revealed a traveller from Perth was able to enter New Zealand despite the Australian city being locked down.

Travelers who have been identified as contacts to cases across the Tasman will have to test negative and self-isolate for 14 days before they depart for NZ.

Report: Huge Government Debt Sustainable

In a report by the independent Parliamentary Budget Office, it was indicated that the blowout in government debt in response to funding support for Australians during the pandemic is sustainable. Support measures such as the JobKeeper and JobSeeker scheme saw government debt as a proportion of the economy expand from 28% of GDP to an expected 40% in 2020/21 and to more than 2022/23. It could be a decade before it starts to steadily decline.

Providing Health Care Remotely During COVID-19

From 13 March to 30 June 2021, new temporary MBS (Medicare Benefits Schedule) telehealth items have been made available to help reduce the risk of community transmission of COVID-19. You can find the temporary Medicare items that will help health care practitioners deliver teleheatlh services via phone or video conferencing here.

Study: 83% of Australian Entrepreneurs Confident About Recovery

In a study conducted by market research company Frost & Sullivan and NetSuite, Australian and New Zealand entrepreneurs have emerged from the COVID-19 pandemic in good shape and are confident about recovery. The report showed 83% of Australian entrepreneurs feeling confident about their businesses and next stage of growth.

Further, the study found many entrepreneurs were able to pivot to online sales over brick and mortar amid the lockdowns.

$6.9 M Cyber Security Assistance Boost for Businesses

Nearly 600,000 small- and medium-sized businesses across the country will soon have access to free advice and assistance to improve their cyber security.

The Cyber Security Business Connect and Protect Program is providing $6.9 million in funding to 14 trusted organisations that will work directly with businesses to identify security risks and help them take active steps to secure their systems.

$2000 Upfront Cash So Unemployed Move for Work

Starting in May, job seekers will get up to $2000 upfront if they move to a new location for ongoing work. Job seekers will get help relocating for jobs offering at least 20 hours a week, instead of the existing threshold of 30 hours.

Upcoming Key Dates

Upcoming key lodgment and payment dates for businesses:

30 April

  • Lodge TFN report for closely held trusts if any beneficiary quoted their TFN to a trustee in quarter 3, 2020–21.
  • Lodge lost members report for the period 1 July 2020 to 31 December 2020.

Contact us if you have any questions.

Government-backed COVID-19 Loans Extended

The government is extending its small business COVID-19 loans scheme until June 2021. If you need help to access these loans or you want to find out if you are eligible, don’t hesitate to drop us a message.

Here’s How Small Businesses Can Bring Shoppers Back Into Stores

With vaccination availability increasing in the country, small business owners can start to refocus their efforts on encouraging in-person visitors. This Forbes article shared some tips to effectively boost in-store traffic in the next months.

  • Focus on personalisation– It is about relationship-building and appealing to consumers’ desire to invest in a company’s products and its values. With consumers having unlimited choices at their fingertips, you can stand out by providing a personalised experience that strengthens brand loyalty.
  • Prioritise authenticity– Research shows 86% of shoppers value authenticity. Don’t just preach authenticity through customer emails and digital ads, you need to bring that same energy to in-person interactions.
  • Align innovation with intent– Pair in-person with digital approaches to improve interactions with customers and ease the transition back into stores.
  • Tap into senses and sensibilities– After a year of limited contact, customers are happy to get in front of people. Create in-person experiences that engage multiple senses and cultivate an immersive in-store vibe.
  • Add mobile to the in-store journey– Review your mobile engagement to make sure it reflects current products and services, while showing you’re ready to reconnect with consumers.

Need more focused business advice on how to attract in-person visitors? Book a one-on-one consultation with us today and let’s work out a plan!

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