More Government Help
With Governments (Local, State and Federal) offering more to help small business navigate the ever-changing beast that is COVID-19 now is the ideal time to plan for a range of different future scenarios. If you feel unsure and anxious about the future now could be the time to plan for the remainder of the year knowing you might have to have Plan A, Plan B or Plan C.
By planning and considering the best and worst-case scenarios for your business you can make informed decisions and diminish the risk of being taken by surprise, or being paralysed by the unknown. It is like the many times you remember to pack an umbrella and it doesn’t rain – and the day that you don’t – it does.
Scenario planning involves brainstorming as many possible outcomes you can imagine for your business during the pandemic if the situation is either escalating or diminishing. You can start the process by asking yourself the question: What happens if… and if then what… and maybe if this… and keep going. Nothing is out of bounds. Consider the best case and the worst case and everything in between. Then use the list to write what you can do if these scenarios play out. Separate what you can and can’t control. Now set aside some plans to manage each scenario. Can you identify any patterns to lead you to some actions that are generic? These are the ones to start working on. Can you identify ways other people could help if you had some funding? These are important too as you may be eligible for support.
NSW Government Grants Round 2
The NSW Government has announced Round 2 Recovery Grants to help Small Business reopen in a post COVID world. A $3,000 grant can be used to fund the following types of services:• Financial, legal or other professional advice to support business sustainability and diversification
- Strategic planning, financial counselling or business coaching aligned to business development and diversification
- Building the business through marketing and communications activities such as content development [web pages, mobile apps, visual and audio media]
- Digital/technological strategy development
- Digital training or re-training to adapt to new business models
- Capital costs associated with meeting COVID-19 SAFE requirements
The Small Business Recovery Grant can not be retrospective and can only be used for expenses from 1 July and where no other Government support is available
To be eligible you need to meet the following criteria
- Australian Business Number as at 1 March 2020 registered in NSW;
- Have total Australian wages below the NSW Government 2019-20 payroll tax threshold of $900,000 as at 1 March 2020;
- Have fewer than 20 Full Time Equivalent staff (including non-employing businesses) as at 1 March 2020;
- Have an annual turnover of more than $75,000 as at 1 March 2020;
- Have experienced a decline in turnover of at least 30 per cent from March to July 2020 compared to the equivalent period (of at least two weeks) in 2019;
- Are in a highly impacted industry as at 1 March 2020. These industries were impacted by the COVID-19 Restrictions on Gathering and Movement Order 2020;
- Have costs from 1 July 2020 associated with safely re-opening or scaling up their business.
- Small business affected by drought or natural disaster or not in operation 12 months ago, but that commenced operations prior to 1 March have alternative time ranges for comparing the decline to turnover to turnover.
Service NSW launched the Small Business Recovery Grant online on 1 July and will accept application until Sunday 16 August 2020 when the program will close.
Like the first round, this grant will be oversubscribed so it is best to get in early.
You will need to have quotes from eligible service providers. You may need information from your accountant and / or jobkeeper payment summary.
How can I help?
If you want to use part or all of your recovery grant for business scenario planning and strategy, marketing brainstorming, time management, systems and processes reviews or HR services I can put together a quote for you or if you just want to have a chat – I can do that too.