Millions of businesses around the country came to a grinding halt when the pandemic hit Australia and caused mass shutdowns enforced by the government. While no one could predict the coronavirus crisis, business owners have learnt some vital lessons from the weathering the pandemic.
A new resource by MYOB discovers there is plenty entrepreneurs can do to safeguard their small business in the future and it all starts with how they set up to prepare for crisis and disruption.
“As the COVID-19 pandemic spreads across the world, it is clear we are facing an unprecedented crisis,” says MYOB CEO Greg Ellis.
“With governments around the globe taking increasingly strong measures to protect the health of their populations and limit the impacts on their economies, the scale and spread of the virus and its effects has meant our business community has entered unchartered territory.
“Running a business in a time like this can be stressful, and lonely. Remember there is a lot of help out there, and many people willing to lend support. We know you will be thinking about the health and wellbeing of your employees but remember to also take time for yourself, as we could be in for an extended period of disruption.”
MYOB’s Business Preparedness Guide explores how businesses can prepare for this disruption by identifying areas where business owners can start planning now.
‘Stimulate discussions with your team, your financial advisors, banks, suppliers and customers, and take control of your future, even in these uncertain times. Our message here – as we have learned from the storms Australia has recently weathered – is: we are in this together,” says Ellis.
The guide provides handy tips on how to master business continuity so that you can plan to lessen the impact of disruption; explores how to cope with the impact COVID-19 has had on your customers, your service and your customer experience; outlines finance and cashflow tips and details business essentials, from working remotely to government stimulus.