While the world reacts to the outbreak of coronavirus (or COVID-19) with travel bans, cancellation of events and self-isolation, small businesses are feeling the pinch.
While we invest into larger companies who can weather a storm such as this, the impact of COVID-19 could seriously impact the longevity of local small businesses. Compounded by the recent impacts of the Australian Bush Fires, many local businesses are struggling to keep their heads above water.
The stimulus package announced yesterday by the Australian Government will assist some small businesses and the local economy while the world recovers from this temporary impact. The Australian Government Small Business stimulus package includes:
If you’re a small business owner and have any questions about your eligibility to claim on these incentives, please contact DW Mathers & Co.
The Travel Industry
The travel industry has been immensely impacted by the COVID-19 epidemic with business sales down approximately 90% compared to this time last year. If you have been forced to cancel or postpone an upcoming overseas holiday, we encourage you to book an alternative holiday locally to support the local economy and other small businesses such as cafe’s and hotels who rely on local tourism.
Bush-fire affected regions such as Kangaroo Island, Blue Mountains, East Gippsland and Canberra (to name a few) would really appreciate extra tourism support this year.
Talk to your local travel agent today. If you do not have a local travel agent, we have a couple of clients who work in tourism and would appreciate your support. Their details can be found below.
Furthermore, if you have concerns about your investments or would like investment advice, contact Future Key Financial today.