COVID-19: New business guide helping Australian SMEs prepare for ‘new normal’

Helping businesses navigate the ‘new normal’ of continuing COVID-19 restrictions is the goal of the latest MYOB Business Preparedness Guide, released this week.

The new edition in the series of SME-focused resources looks at a range of issues local businesses face, from evaluating pricing strategy and customer retention, to organisational change and health and wellbeing.

MYOB CEO Greg Ellis says that while Australia has seen some encouraging early results in the number of coronavirus infections, it’s clear that the business community will be facing significant disruption for some time.

“Many small business sectors, particularly food services, accommodation, arts and recreation, have been significantly affected by the coronavirus pandemic – not just financially, but operationally,” said Mr. Ellis.

“Even as limitations ease, the effects of a global recession means SMEs will need a great deal of support in the weeks and months ahead to ensure their survival.

“This is an unprecedented historical event for the Australian economy and one we can expect to cause waves for some time.”

The new guide looks at how businesses can tailor their products and services to changing market conditions and price them accordingly, steps they can take to evolve their business and maximise technology and assess the ongoing viability of parts of their operation.

“The pandemic has ushered in a new era of technology-based business practices,” Mr. Ellis said.

“This is an important positive that has arisen from the crisis; technology will bring new opportunities and more efficient ways of working for local businesses.”

The second edition of the MYOB Business Preparedness Guide is available now for download at the MYOB COVID-19 Resource Centre.

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For further comment or other information please contact:

Selina Ife, Communications Consultant, MYOB

M: 61 488 044 237 / E: [email protected]

About MYOB

MYOB is a leading business platform with a core purpose of helping more businesses in Australia and New Zealand start, survive and succeed. At the heart of MYOB is a customer base of 1.2 million businesses and a network of more than 40,000 accountants, bookkeepers and consultants, for whom MYOB delivers end-to-end business and accounting solutions. MYOB operates across four key segments: Small and Medium Enterprises (SME), Enterprise, Financial Services and Practice. For more information visit myob.com or follow @MYOB on Twitter.