17 Mar 2020
Business
Support a small business
BY EMILY MATTHEWS – FINANCIAL ADVISER AT FUTURE KEY FINANCIAL

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:

  • Increasing the instant asset write-off to $150,000 and widening eligibility
  • Time-limited opportunity to accelerate depreciation deductions
  • Wage assistance for employers to help maintain employees

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.

New Farm Travel

Website: https://newfarmtravel.com.au/
Ph: 07 3358 6588
Email: [email protected]

Barrow & Bear Travel + Coffee

Website: https://barrowandbear.com.au/
Ph: 1300 976 874
Email: [email protected]

Furthermore, if you have concerns about your investments or would like investment advice, contact Future Key Financial today.

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Daniel Mathers is an authorised representative (1238174) of Hunter Green Pty Ltd (AFSL 225962). Emily Matthews is an authorised representative (1261200) of Hunter Green Pty Ltd (AFSL 225962). Future Key Financial Pty Ltd ACN 608 953 840 is a Corporate Authorised Representative (1238170) of Hunter Green Pty Ltd (AFSL 225962). The information on this website contains general information and does not take into account your personal objectives, financial situation or needs. We recommend that you seek for specific financial advice if you require advice that takes into account your personal circumstances.