With the end of Jobkeeper approaching in March for those businesses still meeting eligibility criteria, and other tax concessions being phased out, business owners need to look beyond March.
The COVID-19 crisis has provided some indirect beneficial outcomes. It has in many ways been a catalyst for businesses to closely examine how they operate, who they transact with, and the efficiency and profitability of their businesses.
There has been a greater focus on planning, strategy, active management of production and sales, marketing & sales, and a re-imagining of business. While cash flow is always key – business resilience will have as much to do with recovering after coronavirus as it has in how businesses manage temporary setbacks.
For businesses that have not, or will not adapt, the end of concessions and cash flow lifelines may be terminal.
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