Welcome to our February monthly newsletter!
JobKeeper has been a hot topic for small business employers and sole traders over the last year with many businesses receiving this assistance to enable them to continue to employ and trade as usual. The ATO are currently processing the last round of this payment scheme with March being the last month of the wage subsidy. Although JobKeeper has been extremely helpful and very much needed to many small business owners, the Government will have to cut this financial help eventually with the countries budget being exceeded. Businesses will have to adjust to the end of JobKeeper as well as other previous payments and subsidies being received after the affects of COVID-19 (cash-flow boosts, apprentice subsidies, etc.) and this may become a sore spot for businesses that have limited cash-flow and poor forecasting.
Now is the time for small business owners to sit down and look at their financial position, adjust their budget and prepare for a decrease in cash-flow once all final subsidies and payments have been received.
If you are unsure where to start with your budget or cash-flow forecast and require advice or assistance to keep your business on track and trading then please contact our office for an appointment (phone appointments are available).