COVID-19 Business Update – 6 January 2021
Happy New Year! We hope you had a relaxing holiday break and are raring to go in 2021.
Our first weekly digest of the new year includes the latest updates and ideas to help us all move forward.
South Australia Keeps NSW Border Shut
South Australia has a hard border closure in place with New South Wales with no one from that state allowed to enter unless they are a returning resident, relocating permanently, or an essential traveller. Returning residents or people relocating will still need to quarantine for 14 days and can only make that trip once.
Meanwhile, SA’s border with Victoria remains open, though people who have been to any virus hotspots in Melbourne are being asked to get tested.
Australia Injects $10 Million for High Potential COVID-19 Clinical Trials
Funding amounting to $10.1 million under the MRFF’s Clinical Trials Activity initiative will support six promising Australian innovations in the fight against COVID-19. Funding will also support a trial of customised 3D-printed face guards to help stop mask leaking with P2/N95 respirators.
JobKeeper Payment Extension Starts
The second JobKeeper Payment extension started on Monday 4 January 2021.
- if you are eligible for JobKeeper extension 2 you will need to complete a new decline in turnover test
- the payment rates for your eligible employees will change
- if you are new to JobKeeper you can enrol in the program to participate in the remaining fortnights.
For JobKeeper fortnight 20 (Monday 21 December 2020 to Sunday 3 January 2021):
- You will have until the end of Monday 4 January 2021 to pay your employees (meet the wage condition).
- Business monthly declarations for JobKeeper fortnights 18, 19 and 20 are now due 28 January 2021.
For JobKeeper fortnights 21 and 22 (starting Monday 4 January 2021 and Monday 18 January 2021):
- You will have until Sunday 31 January 2021 to meet the wage condition for your eligible employees.
Contact us if you have any questions.
Government-backed COVID-19 Loans Extended
The government is extending its small business COVID-19 loans scheme until June 2021. If you need help to access these loans or you want to find out if you are eligible, don’t hesitate to drop us a message.
Business New Year Planning Tips
Make the next 12 months more profitable and productive with these tips for business New Year planning.
- List out the three most important goals and critical ‘big picture’ accomplishments that you want for your business. Identify WHAT, HOW, and WHEN will you do the steps to achieve these.
- Evaluate what still works and what no longer works for your business. Don’t be afraid to try out something new, perhaps even what seems risky.
- Set monthly metrics and quarterly goal-planning reviews instead of thinking of the year as a whole. Measure results and adjust the dials on your business plan every 3 months while keeping a close eye on results every month.
- Don’t do it alone. Be open to suggestions from your partners, business advisor, accountant, and the rest of your team.
- Write down your personal and professional development goals as well.
Entering into the new year with all the uncertainties ahead and the pandemic still going on can be scary. However, it is important to remember that a bend in the road is never fatal unless you fail to turn. So take a deep breath and relax– you got this!
Get in touch
Contact us if you have any questions or want to discuss the next steps for your business.