Coronavirus Update: Industry Fast Facts
IBISWorld presents a collection of fast facts that outline how the spread of COVID-19 (coronavirus) is impacting sectors across the countries where IBISWorld operates, including Australia, Canada, Germany, New Zealand, the UK and the US.
COVID-19 Manufacturer Response
The Advanced Manufacturing Growth Centre (AMGC) has launched a portal for Australian manufacturing, component suppliers and skilled design, engineering and manufacturing experts to register their interest and core competencies in support of the national response to COVID-19.
An accountant’s advice on how you can protect your small business from coronavirus
Prime Minister Scott Morrison has warned Australians to prepare for a coronavirus “pandemic” as the government implements its emergency response plan.
Small businesses also need to have a plan to deal with the fallout from the virus which includes a drop in customer and sales numbers, disruption to supply chains and, ultimately, cash flow shortages.
With that in mind, here are 10 tips to manage the risks of the virus to your business.
What Small Businesses Can Do Now
Kate Carnell from the Australian Small Business and Family Enterprise Ombudsman talks about some of the things small businesses can do now to help their business stay afloat during this difficult time.
Coronavirus Information & Support for Business
Find financial assistance, eligibility and timing for the new government support for Australian businesses.
Business Victoria: Coronavirus business support
Advice, updates and support to help your workplace plan and respond to coronavirus COVID-19 including business restrictions, recovery plans and updates on available economic stimulus packages.
Businesses can now call a Business Victoria hotline on 13 22 15 for the latest information on the COVID-19 response, how this affects businesses, how to keep their workplace safe and advice on how to plan for dealing with the current situation and anticipate likely developments. The hotline can also provide information about support services and what financial assistance might be available.
Economic Survival Package Fact Sheet
The Victorian Government has established an economic survival package to support Victorian businesses and workers through the devastating impacts of the COVID-19 pandemic.
Managing the workplace in the face of outbreak
The spread of the novel coronavirus (COVID-19) has been the dominating news topic of 2020 so far. Australian health officials maintain that, at this point, the risk of contracting COVID-19 remains relatively low in all parts of Australia. However given the rate of transmission of COVID-19, the impact on Australian businesses is changing daily. It is therefore important for employers to be prepared to respond as COVID-19 continues to develop both in Australia and globally.
Small Business Mentoring
The Small Business Mentoring Service offers low-cost sessions with a diverse range of mentors that can help you to navigate difficult business decisions, prepare business continuity plans, review your business strategy or revise your business plans. Or a free 45-minute session with an experienced business adviser is available via the Small Business Bus.
Support for businesses facing retrenchment
Business conditions or unique circumstances may affect businesses and employers might respond with restructure or closure, including redundancy and retrenchments.
If you are an employer facing a retrenchment process, Jobs Victoria can help you with information and referral. Visit the Jobs Victoria website to find information to help you understand retrenchment, the options available to you and your staff, and contacts for additional support.
Victorian Chamber of Commerce & Industry
The outbreak of COVID-19 (coronavirus) is causing economic disruption in many sectors including tourism and hospitality, education, property, resources, and international supply chains. If your business is being affected by coronavirus (COVID-19) there are resources that can help. Please visit the VCCI website for information specifically relating to Victorian businesss.
Find support if your small business has been impacted by the international outbreak of novel coronavirus (COVID-19).
Please download the free Employer Resource Guide. This comprehensive document contains essential information about COVID-19, workplace relations and work health and safety (WHS) matters.
Business SA Members can also call the Business Advice Hotline on 8300 0000 for specific advice.
Financial support to hire apprentices
Additional support is now available for small business through our Skills for Business package to help you train and maintain a skilled workforce
Covid-19, or novel coronavirus, is a respiratory illness that originated in Wuhan, China in early 2020. At the time of writing, there are estimated to have been over 100,000 confirmed cases around the world, with more people already recovered than currently infected (source).
While there is some level of concern internationally and nationally about the virus and its economic impact, locally the WA Department of Health is advising people to remain alert but not alarmed about the risk.
Here are some things you can do to prepare for the potential impact of coronavirus on your small business.