Level 1 & Level 2 COVID-19 Assistance Packages
As you may be aware, the state Government has recently announced information on available financial support for businesses affected by COVID-19 and the related restrictions.
In addition to various industry-specific assistance for hospitality, arts-based and tourism businesses, the Level 1 and Level 2 packages also include more wide-ranging measures and may be applicable to you.
According to a recent survey done by Xero, up to 68% of small businesses want to become more sustainable in 2022.
But what does it mean to be a sustainable business?
Thanks to COVID-19 it’s been a tough time for small businesses around the world. According to a business trend report, up to 60% of small business owners are worried about their household finances. It’s important for businesses to analyse their margins and focus on the products and services that generate actual profits. And it’s also important to be mindful that there may be further challenging times ahead.
Australian wealth is heavily invested in the property market. As of the second quarter of 2021, the value of combined private household wealth rose to a new record of 13.43 trillion. Wealth per capita also rose to a record high of $522 032 average per Australian adult.
The extension of this SME recovery loan scheme has been welcomed, and this is to be extended for a further 6 months.
