Coronavirus (COVID-19)
Small Business Resources

The impact of COVID-19 presents a significant threat to many small businesses including a sudden fall in demand for products or services, labour shortages and supply disruptions. There are a range of actions you should consider taking to enable your business to manage through the crisis and prepare for recovery. Below are some resources to support you and your business. 

Continue to explore our vast resources, advice and guidance on COVID-19 for business advice.

Tips for managing through COVID-19

Commercial rent relief – summary of Australia’s commercial rent relief scheme
The Australian Federal, State and Territory governments have agreed to introduce a range of measures to help commercial landlords and tenants during the COVID-19 crisis. Read our summary of the commercial leasing principles and state and territory assistance.
Uploaded 22 May 2020 | PDF

High-level tips to assist small businesses manage through COVID-19
COVID-19 presents a significant threat not only to human health but also to businesses. For many, the steps by governments to contain the virus, such as restricting movement of people and shutting non-essential businesses, will result in a sudden fall in demand for their products and services. Our list of tips will help your business survive and place it in the best possible position for recovery.
Last updated 26 March 2020 | PDF

Checklist of possible actions to help your business manage through COVID-19
There are a range of actions you should consider as you manage your business through the COVID-19 pandemic. Download our checklist which includes a clear list of actions you can undertake at this time. View a detailed summary, including example worksheets and checklists.
Last updated 26 March 2020 | PDF

COVID-19 – key implications for boards
Boards and their organisations, regardless of size, will need to be proactive in managing the risks and challenges presented by the COVID-19 crisis. This briefing is aimed at directors or advisers to boards, who will help organisations reinvent themselves to survive and capitalise on new opportunities that arise.
Last updated 22 April 2020 | PDF

Tips for building customer trust – online commerce
For many small businesses, building trust is crucial to ensuring repeat customers and standing out from competitors. This is not any different, and is perhaps even more important, when you are selling online.
Last updated 28 April 2020 | PDF

Fact sheet: COVID-19 employment issues
To maintain a sustainable firm you’ll need your people safe, engaged and at work for the inevitable rebound from COVID-19. Developed specifically for public practitioners in Australia, this fact sheet outlines key legal considerations, HR strategies and employment resources to support you in responding to the COVID-19 pandemic.
Last updated 31 March 2020 | PDF

Government stimulus summaries
The Australian government as well as Australian state and territory governments have announced a range of measures to assist small to medium-sized businesses during the COVID-19 crisis. Find out what the Australian government and the Reserve Bank of Australia (RBA) have announced and what each state and territory is working on in order to support individuals, households and businesses.
April 2020 | article

Disaster recovery toolkit
In addition to COVID-19, we know that many people and communities are and have been impacted by the bushfires that affected much of Australia. When the recovery phase commences, CPA Australia's disaster recovery toolkit can assist with the many elements of recovery.
April 2020 | article

Fact sheet: Cyber security essentials for working remotely
Now more than ever it’s important to incorporate cyber security measures into your contingency planning and every day work practices as more people start to work from home. Follow this eight-step guide for keeping your data and systems safe and secure.
Last updated April 2020 | PDF

Fact sheet: Setting up your virtual office
Moving to a virtual office has become a need rather than a want for many accounting businesses. Help transition your firm by following this practical guide, which includes short-term steps for setting up your virtual office and longer-term considerations for finding a sustainable solution.
Last updated April 2020 | PDF

Data security in the age of working from home
Data security is more important than ever when you and your team are working from home. Listen to CPA Australia podcast with Alan FitzGerald as he shares insights on how to improve data security in response to COVID-19.
Recorded 1 April 2020 | Podcast

COVID-19 impact analysis
This resource highlights the possible impacts that current and projected government responses to the COVID-19 pandemic may have on Australian businesses.
Last updated April 2020 | PDF

Triple threat: Leading in the age of COVID-19
What does crisis management look like when conventional wisdom seems hopelessly inadequate? Australia’s business leaders are facing a once-in-a-generation test of their managerial mettle. Three CEOs share their experiences so far with leading through the COVID-19 crisis.
26 March 2020 | INTHEBLACK article

Good practice checklist for small business
This checklist helps Australian small businesses identify some of the tasks critical to good business practice. If you regularly undertake these tasks, you will be in a better position to manage and grow your business and reduce the pressure you may face at the end of financial year.
April 2020 | PDF

Tips for small business in uncertain times
Reduce your reliance on external debt, improve your productivity, review your cost structures for savings, adopt appropriate risk management strategies, and review your business plan for the changing environment.
April 2020 | article

Tips to manage foreign exchange risk
Foreign exchange risk is the risk that a business’s financial performance or position will be affected by fluctuations in exchange rates between currencies. Government policy, changes to supply chain, customer flows and general economic factors are likely to contribute to this risk. Read our tips for managing foreign exchange risk.
Last updated 19 April 2020 | PDF

Tips for preparing for COVID-19

High-level tips to assist small businesses prepare for COVID-19
Top tips you should consider taking now to prepare your business for COVID-19. Not only will they help you navigate through the crisis, but also better prepare you to take advantage of the recovery.
Last updated March 2020 | PDF

Detailed summary of potential actions to prepare your business for COVID-19
COVID-19 will be a shock to many businesses that could place their immediate future in serious jeopardy – and there is no way of knowing how long this pending crisis will last. Follow our detailed summary of potential actions you can take to be better prepared during these unforeseen circumstances.
Last updated March 2020 | PDF

Example worksheet – list of potential implications
An example of how you can assess and record the possible impact of COVID-19 on your business, estimate financial implications, and identify potential strategies to mitigate the risks.
Last updated March 2020 | PDF

Example checklist – COVID-19 contingency plan
Part of a comprehensive risk management strategy includes an effective contingency plan to ensure your business is prepared for what is coming. Download our checklist which includes a range of areas to consider, such as employees or related parties catching COVID-19, staffing arrangements that should follow, impact on customers, and ideas on how you can implement plan B.
Last updated March 2020 | PDF

 

MESSAGE FOR SMALL BUSINESSes

With the impact of COVID-19 significantly changing the business landscape, you likely have a lot of questions. It’s more important than ever to seek the advice of a professional accountant to ensure your business get the support it needs.

View the videos below for a quick snapshot of how a professional accountant can help your small business.

You can share these videos with your business network by going to the social posts on Facebook and LinkedIn, and even add your own call-out or comment.

Brent Szalay, FCPA

 

Robyn Erskine, FCPA

 

Community Campaign

SMALL BUSINESS RESOURCES

COVID-19 has impacted and continues to affect many small businesses. Now more than ever is the time to speak to a professional accountant to help you manage through this crisis. With access to the latest resources, a CPA can provide you with business planning and cash flow management, advice and assistance with applying for government subsidies, and investigate expenses to make significant savings. Even if you have never engaged a professional accountant before, now is the time to do so.

Find a CPA