COVID-19: The one thing business owners need to do right now

COVID-19: The one thing business owners need to do right now.

Right now all business owners need to take decisive action.

It is time to put concerns aside, and act with clarity.

By ATB Partners 

Navigating without a road map

If the Federal Government has shown us anything in the past few weeks, it’s how swiftly it can get things done when it needs to. In less than a month it has passed three complex economic stimulus packages and a raft of public health reforms in response to the threat of  COVID-19.  

 Yes, these are unprecedented times.  

But let’s take a moment to put this in perspective.

There has been a great deal of uncertainty, a distinct lack of information, no similar circumstance in recent history to draw inspiration from, and certainly not enough time to put together various committees for debate and discussion, or to engage researchers to conduct several feasibility studies and all the other usual pomp and ceremony that we’re used to seeing come out of Canberra.  

Focus, determination and collaboration have replaced procrastination, political posturing and point-scoring.  Both sides have come together. Even the Australian Council of Trade Unions (ACTU) called a temporary truce with the Coalition to give its approval of new employment laws which allow for pandemic leave and provide more flexibility around annual leave.  

Undoubtedly, many other ‘unlikely’ alliances and relationships will be forged through this crisis and they will be of lasting and enduring benefit long after the emergency. 

There’s a lesson in here for all of us.  

And that lesson is, that sometimes you just have to get on with it.  

Have the tough conversation.  

Make the decision.  

Work with what you’ve got.  

No outcome is ever certain and no timing is ever perfect … and yet so many of us tie ourselves up in endless knots until we’ve got paralysis from too much analysis.  

Right now, the most important thing all business owners must do, is to act decisively  

Without considering more than 6 months down the track, you must stabilise your business now.  Do everything you can to make sure it survives.  

Now more than ever, you need expert advice

It’s a mistake to think you can’t afford professional business advice right now, because in reality you actually can’t afford not to have it.  

A business advisor will help you to put your business into hibernation, including facilitating access to all the government assistance that you’re entitled to, helping ensure your cash flow is protected and your expenses are minimised.

Baby steps

Then, when you’re in a position to be able to survive this lock-down period, we can help you consider next steps … the ones to be taken at a time when the threat of COVID-19 is passed.  

We have provided a number of resources on our website including a library of blogs, and a business continuity planning tool which is free to download.

We encourage you to look it through, and then contact us

We'll get through this, by working together.

At ATB Partners, we have more than 60 years combined experience working with small and medium sized businesses. Our team has a diverse range of skill sets and thanks to a considerable investment in technology over the past few years, we’re completely equipped to assist you remotely.  

What’s more, we wholeheartedly believe in SMEs.   

SMEs are innovative, nimble, adaptable and courageous … and even though we’re facing an uncertain future right now, at ATB Partners we believe that we will not only survive it, but that SMEs will be the instigators of change, they will lead the way, and re-shape the way the whole of Australia does  business, for the better.  




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