There’s no doubt the COVID-19 crisis is affecting the economy badly – including your business.
We all didn’t see this coming. Still, it pays to be prepared to ride out the crisis and keep your business afloat.
In this unprecedented time, you need to get extra support to sustain your business. No need to shut down. No need to cut down staff.
Here are a few resources and grants you may apply for to withstand the economic effects of COVID-19.
Where to Get Financial Aid for Your Business Amid COVID-19
1. Stimulus package
The federal government of Australia has announced that they’ll grant a stimulus package to local businesses.
Its purpose is to sustain businesses and help Australians keep their livelihood. In result, it would be easier for the economy to bounce back.
Here are the features of the package:
Remote working support
To control the spread of the virus, people are highly advised to stay home. In response to that, the package aims to help businesses transition to remote working efficiently. This benefit includes providing advanced technology, such as laptops and video conferencing software.
The package offers businesses the opportunity to update their IT environment into more secured and advanced devices.
There’re no stopping cybercriminals – not even the coronavirus. The package lets businesses invest in system upgrades to strengthen security against data breaches. This means improved data protection, data backup, and disaster recovery systems.
2. Tax relief programs
In light of COVID-19, the Australian Taxation Office (ATO) will implement tax relief programs for affected local businesses. This includes tax exemptions and rebates to qualified businesses.
If your business is eligible, you can use your tax credit to support the paid sick leave of your employees under quarantine or to transition your business model online. This way, you can keep your business operational while keeping your staff safe.
Stay connected for any updates from ATO.
3. Government and non-government disaster grants
Be updated with the government’s emergency assistance and healthcare response for businesses affected by the coronavirus crisis.
- JobKeeper Payment for employers and employees
- Boosting cash flow for employers
- JobKeeper Payment for sole traders
- Early access to superannuation
- Coronavirus SME Guarantee Scheme
On top of government disaster grants, tap on local community resources. Think of non-government organisations in your county, state or city, that offer financial assistance programs.
4. Facebook grants programme
To help combat the economic effects of COVID-19, Facebook is offering cash grants and ad credits to small businesses all around the world.
The program aims to help small businesses keep their workforce stable and cover rent and operational costs – all while strengthening customer connection.
Learn how to apply here.
5. Zip Pay’s Buy Now, Pay Later service
Zip Pay allows users to make online purchases through staggered payments. Users can make purchases up to their credit limit, as well as adjust their payments to suit their needs. They also don’t need to pay extra, as the platform charges zero interest.
There are many retailers and service providers that offer Zip Pay as a payment method – including Crazy Domains.
So with Zip Pay, you can get system upgrades like bigger storage, data backup, and stronger security to keep your business running – and pay for them later. This provides you with more budget right now for more urgent expenses, like remote work operations and paid sick leaves.
Get every support you can
Take advantage of every opportunity to sustain your business. May it be small or big, it’ll get your business past the COVID-19 emergency. Help your business bounce back smoothly when everything settles down.