10 December 2020
While the end of COVID-19 may be in sight for Australia in terms of new infection rates, the impacts of the pandemic on Victorian small businesses are likely to reverberate through the coming months and even years before normality returns, albeit a different normality to the one they once knew.
In our recent digital transformation study of small to medium enterprises across Australia and New Zealand, we found that small businesses with less than 100 employees were hardest hit by COVID-19 and the associated lockdowns and disruptions, and least likely to see any productivity benefits from distributed working models.
Alarmingly, our findings also showed the businesses that could benefit most from creating and following a structured business continuity plan are also the ones that are least likely to seek the assistance to put one in place. If these businesses don’t adapt to a new normal, they may struggle to survive in the next 12 months.
It’s never too late to get the right advice and support, and now is the very best time.
Victorian Chamber of Commerce and Industry (VCCI) Business recovery and resilience mentoring
In a bid to help guide small businesses through navigating these turbulent economic times, Findex has recently been appointed to a panel of advisers to provide free business mentoring services to Victorian businesses impacted by COVID-19, run by the Victorian Chamber of Commerce (VCCI) in partnership with the Victorian Government.
Eligible business owners will be matched with an experienced professional who will provide them with up to four two-hour one-on-one mentoring sessions over a three-month period to lend an ear, share their wisdom and provide guidance through the important decisions that could make or break the next phase of recovery.
The program will offer tailored guidance on:
- Business recovery
- Market transformation
- Digital literacy and engagement
- Market and supply chain diversification, and
- Reskilling and retraining.
The Findex Accounting and Business Advisory team is delighted to be participating in the program to assist eligible businesses, including our existing clients, to learn from and put behind them what was undoubtedly a testing year and to help pave the way for the future - to overcome the challenges immediately ahead and beyond.
To learn more about the program, click here to view eligibility criteria, application details and FAQs.
For more resources and information to help you and your business navigate the challenges ahead, explore our COVID-19 Resource Centre.