COVID-19 - Business and Member's Support Resources

The ABSA Board is very conscious that many of our members may experience a downturn in business and revenue in the current environment and into the foreseeable future. For this reason, ABSA staff have been busy researching and locating resources and information that you may find valuable and helpful in the coming months.

The information and resources in this database are provided with the intention of helping you alleviate some of the stress and financial hardship that Australia (and the world) is currently faced with.

 

ABSA remains open for business offering you, our members a range of information and resources to help you navigate the uncertain COVID-19 terrain

A message to members from the ABSA board

Webinar Series - A Survival Kit for Small Business Presented by Industry Professionals. 

This webinar series is hosed by Design Matters, who have kindly invited ABSA members to join. ABSA encourages members to take advantage of this opportunity.

 

Business Assistance Measures Currently on Offer

The following is a list of information, resources, Government and ATO and Banking Sector business stimulus and financial relief measures offered to help you and your business through this challenging time:

JobKeeper Payment 

The latest round of Government funded assistance has provision for sole traders, along with those with employees.

 

COVID-19: Information for Small Business

From the NSW State Government web site, this link offers advice relevant to all states. Topics include:

  • Managing cash flow problems

  • Small business loan deferred repayments

  • How to prepare your business if you get sick

  • Employer Obligations

  • Where to find business advice

  • Navigating red tape

 

ACCC Information for Small Business

From the Australian Consumer and Competition Commission. Topics include:

  • Rights and obligations of business and consumers (remembering that many small businesses are also consumers)

  • Cancellation of functions and events

  • Supply and pricing 

  • Anti-competitive behaviour

 

Overview of stimulus measures for small business, sole traders and employers

From Nexia, this link provides a long list of assistance initiatives relevant to members.

 

Australian Banks offer deferred payments for 6 months

From the Australian Banking Association, this link provides information on a the Small Business Relief Package 

 

Australian Government Business support measures

 

Tips for small business to prepare for COVID-19

From Chartered Practicing Accountants Australia, this link offers information regarding potential risk and how to mitigate or manage them, together with a proactive action list.

 

The Australian Government's economic response to COVID-19

From the Australian Taxation Office, this link provides information on the measures to help the economy withstand and recover from COVID-19. Topics include:

  • Enhancing the instant asset write-off

  • Backing business incentive

  • Boosting cash flow for employees

  • Temporary early release of superannuation

  • Temporarily reducing superannuation minimum drawdown rates

 

Business review and planning tools

COVID-19 Contingency Plan Checklist

From Chartered Practicing Accountants Australia, this link offers a working contingency plan checklist 

 

Example worksheet - Potential implications on COVID-19 on your business

From Chartered Practicing Accountants Australia, this link offers a templated work sheet to help you identify potential risk, financial impact and develop mitigation strategies

 

Building Council of Australia on COVID-19

  • Government Resources

  • What business is doing to help employees and the community