• COVID-19 for Small to Medium Businesses

Coronavirus (COVID-19) information for Small to Medium Businesses

Coronavirus has caused widespread disruption in private businesses, markets and communities.

The old saying ‘cash is king’ has never been more important for private business. Businesses need to take precautionary measures and formulate action plans to mitigate risks and their impact on business operations, while at the same time meeting the needs of customers and other stakeholders. BDO’s guidance measures from a financial perspective are that businesses need to understand both their short term and long term cash flow, understand their breakeven point and implement measures for controlling budgets and cost savings.

Federal and State stimulus packages are heavily focused around supporting business activity, along with maintaining employee levels. Businesses need to keep on top of all of these announcements and speak to their business adviser to ensure their business and cash flow survives the next 90 days. They can then look at the long term forecast and re-structure business models as required.

More information

For more information and contact, please visit the Australian business and Coronavirus (COVID-19) page.