Practical advice and tips

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tafe.breadcrumbs.current Practical advice and tips

The COVID-19 crisis is presenting immediate and severe financial challenges for businesses.

There are tips and practical steps that you can take to recover, rebuild and plan for the future.

Keep informed with updates from SA Health

As information around COVID-19 frequently changes, SA Health is providing a round up of health updates and information for South Australians.

For more information, visit COVID-19 round up reports.

Make a business continuity plan: COVID-19 Checklist

A business continuity plan documents the steps you need to take to keep your business running and your cash flow coming in.

Emergency management and recovery plan templates can step you through the process of creating a solid, well-structured continuity plan tailored to your business.

For more information and to find helpful templates, visit Continuing your business.

Take immediate steps to manage your cashflow

Look for scope to:

lower variable costs
delay discretionary spend
extend your payables
expedite your receivables
explore supply chain financing options

Talk to your bank

The Australian Banking Association (ABA) says all small businesses hit by the pandemic will be able to access a six-month deferral of all loan repayments.

Seek advice

Seek advice from your accountant or use an advisory support service for your industry.

Join our mailing list to stay informed

Discover the latest information and support for SA small businesses, including a dedicated COVID-19 email newsletter about what it means for your business.