COVID-19: MYOB Business Preparedness Guide launched for Australian small business

A Business Preparedness Guide has been developed by leading business solutions provider MYOB for Australian small businesses looking for advice during the current COVID-19 pandemic.

The guide offers support in areas including cashflow management, business continuity and preparing for the eventual upswing. Key Government announcements and links to Government resources are also included.

MYOB CEO, Greg Ellis, says the rapidly changing situation around COVID-19 has made it challenging for businesses to keep on top of the latest advice and available support.

“These are uncertain times across the globe causing a lot of stress,” Mr. Ellis said.

“MYOB is committed to helping business owners as much as we can so they can focus on the health and wellbeing of their business, themselves and their staff.”

The guide focuses on fundamental issues business face, including establishing secure and successful work from home operations, managing staff and dealing with leave. There is a breakdown of wage subsidy and leave support, including how to apply and how much employers are entitled to.

Business owners considering hibernation are provided with information on appropriately managing the next steps and where to get professional help when required.

“It’s important for business owners to make use of the help around them wherever they can. The Australian Government and organisations such as Safework Australia are available for those who need assistance as they navigate through this unchartered environment,” Mr. Ellis said.

The MYOB Business Preparedness Guide encourages small business owners to create or update a business continuity plan and re-evaluate the plan once the pandemic is under control.

Mr. Ellis says preparing for a crisis to this degree has resulted in a lot of challenges – even for the most prepared business owner.

“There’s a lot to consider. It’s important to keep customers and staff informed, as well as motivated and engaged if your people are working from home. Our guide provides advice on maintaining regular contact through email, chat or video conferencing, or establishing a buddy system for larger businesses.

“It’s also worth spending time focused on the future. There will be a recovery and, given how fast the crisis arrived, the upswing might be just as strong as the decline for some businesses – so we’ve included some steps businesses should consider to help them prepare.”