Stefan KazakisMore COVID news out of Victoria on Friday with the announcement of a snap five day lockdown.
But, the word on everyone's lips at the moment is Jobkeeper. And it's confirmed to end at the end of March. Along with many loan deferrals that has been a lifeline to keep many Australian's going throughout COVID.
Latest figures show temporary loan deferrals have reduced significantly since the start of COVID, but there are still active deferrals, to the tune of 20,000 small & medium enterprise loans and 82,000 mortgages.
In July, the Australian Prudential Regulation Authority (APRA) announced banks could extend mortgage 'holidays' to their customers by four months, to cover a maximum period of 10 months from the start of a repayment deferral, or until March 31, whichever came first.
As the end of March looms, let's remember, stimulus will come and go, and is designed to be a short term measure. During COVID, loan deferrals during this period of extreme uncertaintly, were mainly taken up as a way to manage cashflow.
For SMEs, the long term success of your business depends on you, the owner, to make the right decisions to keep moving your business forward. Remain focussed on what you can control, and cashflow forcasting is the key to getting some sleep at night. Especially through the next few months as we navigate the tail end of COVID and the vaccination program rolls out.
If you are not aware of the levers to pull, to generate operating cashflow, then you need to be. But never fear, we are here to help. And we've proven we can, as you have seen in The Benchmark - with our clients, collectively increasing their net operating profit during COVID by 34%, all without stimulus. Congrats!
So that said... we'd like to know how our entire community is feeling at the moment. Please answer this one question by clicking the buttons below:
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We're on the hunt for some great images from our clients to incorporate in our next edition of The Benchmark. We'd love to see you and your team at the office or on site doing a job or show off your new purchases, a van, new equipment etc. Via email
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