COVID-19 Business Update – 27 May 2020

Welcome back to our Weekly Digest. We hope you and your family are doing well. Read on for this week’s update. JobKeeper Key Dates The ATO’s website has a list of key dates relevant to JobKeeper which you might find handy. Not-for-profits and charities can find some JobKeeper information here also. If you are still wondering if you are eligible, or what schemes apply to you and your business, get…  Read more

The Number 1 Thing You Need to Know About Your Business

When you own a small business, it’s vital you understand how money flows into and out of it. At a basic level, you need to know where your income comes from and what your expenses are. At a deeper level, knowing how money moves through your business can help you make strategic decisions about growth, invoicing, and debt management. The consequences of not understanding money can be drastic—poor financial management…  Read more

COVID-19 Business Update – 20 May 2020

Welcome back to our Weekly Digest. We hope you and your family are doing well. Read on for this week’s update. Easing restrictions Last week we mentioned the government’s state-by-state roadmaps to relaxing restrictions. Most states have started their roadmap and as a result some businesses are gearing up to reopen. If it’s still a little while away for your business – hang in there, and please don’t hesitate to…  Read more

COVID-19 Government and Business Updates – Free E-Book

The World Health Organization declared the COVID-19 pandemic on March 12th. As I look at where we are now, it’s crazy to think how much has changed. Everyone has been affected in some way, shape or form, especially small business owners. There is so much information out there and it can get really confusing to wade through it all. At Love Your Numbers, we wanted to help. So…we recently created…  Read more

COVID-19 Business Update – 13 May 2020

Hello for another week! We hope you are staying healthy and well. The big news late last week was the government’s three-step plan to relax coronavirus restrictions. It’s great news for our country and our economy – well done to everyone for playing a part in “flattening the curve!” Plans to reduce restrictions Each state will work independently to implement their own three-step plan, at their own pace. State government…  Read more

What’s your COVID-19 Business Recovery Plan?

Have you got a COVID-19 Business Recovery Plan in place? Recent events have made a lot of people wonder what the future holds, both for themselves and for their business. This is the ideal time to stop and have a think about strategic business planning for the year ahead. Here are some tips to make that planning more productive. Get your team involved Business planning works best when it’s a…  Read more

Your COVID-19 Business Update

In this week’s update, as well as some updates on government support for businesses, we’ve included a number of resources to help with navigating your business out of the dire situation we’ve all been in. No doubt there are still tough times ahead but there are many reasons to be hopeful and we’re here to help you through it all. JobKeeper The first JobKeeper payments are expected to flow this…  Read more

How to communicate during a pandemic

Most small business owners face a time in their career when they have to communicate in ways or about topics they aren’t comfortable with. COVID-19 has put small business owners in the position of having many conversations that are uncomfortable and stressful. Whether you’re communicating with employees about business issues during the pandemic, hoping to negotiate a rent reduction or changes to credit terms, or asking customers for help in…  Read more

$10,000 grants for NSW businesses

$10,000 grants for NSW businesses On Friday 3rd April the NSW state government announced $10,000 grants as fast relief for NSW businesses that need it most. The new assistance scheme is for businesses struggling to cope with the COVID-19 shutdown, and is based on a similar scheme rolled out during the bushfires. Premier Gladys Berejiklian said the “grants will provide a big boost, and we will make the application process…  Read more

How to market and sell remotely – free webinar

We’ve teamed up with the company that helps with our website and marketing to bring you a free webinar on how to market and sell remotely. They’ve been 100% remote for seven years but have built a global business and they want to share how they did it with you. I’ve attended webinars from them in the past and they are always practical and useful. They are going to cover…  Read more

The latest JobKeeper + COVID-19 News

The COVID-19 pandemic is impacting nearly every aspect of our lives and will be remembered as a pivotal time in history. Like any other event that impacts the world, we don’t know what the future will be like, but we do know that the other side of this will require resilience and creativity from all of us. In the spirit of resilience, we have put together some useful resources to…  Read more

Ways to run your business if you can’t open your premises

The COVID-19 pandemic has proven challenging for many small business owners. It’s difficult to run your business remotely, especially if you’re not set up to do so. If you run a business that requires customers or clients to come to you, you might be very concerned about how you can continue to operate without opening your premises. If you have access to technology, are adaptable, and are willing to look…  Read more

Do you have a plan for the next phase of your business?

While everything is moving so quickly, it’s easy to feel a bit lost. Business may or may not return to normal after the Coronavirus and you need to be prepared for that. The best thing you can do right now is to plan. If you don’t have a solid plan for your business, you might miss out on some good opportunities, or get left behind as businesses across Australia adapt…  Read more

JobKeeper Payroll Tracker

Here at Love Your Numbers we have developed this handy little Excel Spreadsheet to help us track the number client payrolls we deal and ensure that all their employee payments will fall within the correct JobKeeper fortnights from 30 March – 27 September 2020. I’ve shared this template with colleagues & clients and they have all breathed a sigh of relief If you are having trouble keeping this all clear…  Read more

JobKeeper Alternative Eligibility Tests

The ATO has just released Alternative Tests for the JobKeeper payment which expands eligibility from the initial basic test. This is good news for many businesses, particularly startups, those affected by last year’s droughts and those with variable revenues. Basic Test If you satisfy the eligibility requirements for the basic test, you can ignore the alternative tests below. The basic test is satisfied where your projected GST turnover for the…  Read more

This week’s COVID-19 updates

We’re back for another week! Hopefully you had a nice Easter break. Many of us are adjusting to a new normal of staying home as much as we can, while finding a groove with working remotely, if that’s an option. The government is putting together financial resources to support small business, and many other businesses are doing what they can to help business owners keep the lights on and maintain…  Read more

Is it the right time to take out a business loan?

In the lean, early years of running a business – that crucial time when most startups need capital – qualifying for a loan can be difficult. Step one is to build a solid credit rating, so a lender feels confident your company isn’t a high risk for repayment and can say “yes” to your application. Once you’ve established a positive credit score, the perfect time to take out a business…  Read more

How to use video for communications

Since the first internal corporate note was sent—probably reminding employees about casual Friday—companies and organizations have relied on written communications to keep employees up-to-date on company policies, procedures and changes happening within. These days, though, more companies are switching to videos to relay information to their staff. In a lot of ways, video is more effective than written communications. It grabs peoples’ attention, conveys important information quickly and is usually…  Read more

Useful information and resources on COVID-19

Over the course of a few weeks nearly everyone’s business and life has been turned upside down. It’s been a crazy time with toilet paper shortages, businesses forced to close, an overload of information (and misinformation on social media). With the recent disruption in mind, we wanted to help support you however we can. We’ve seen a number of our clients already impacted by the virus and decided to put…  Read more

Do you know your break-even point?

All business owners need to be aware of their break-even point — that is, the number of units they need to sell in order to cover their operating costs. Once you’ve reached your break-even point, it’s time to celebrate: your business is no longer in the red, and you are officially earning a profit. This article will show you how to calculate your break-even point so you can make wise…  Read more

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