Is the light at the end of the tunnel the opening or the train coming?

the light at the end of the tunnel

I see many business owners and others celebrating the announcement this week of the easing of restrictions around the current NSW lockdowns at 70% double dose (expected to be 11 October), 80% double dose expected late October, and December 1 for all people.

For many, the light at the end of the tunnel is getting closer, and reflects that they will soon be out of the tunnel and on their way again.

But for some business owners, the light at the end of the tunnel may actually be a train coming to knock them flat again.

And this train may come in various forms.  For example:

  • Your business has a fully vaccinated staff member or customer who tests positive for the Covid. Will the business be forced to close?  If so for how long?  Who pays the deep cleaning?  Who pays for the staff who are now stood down?  What support is there for the business owner to cover fixed costs whilst the business is closed?
  • What if your suburb has an outbreak? Will your business be forced into lockdown?  If so for how long?  Who pays for the staff who are now stood down?  What support is there for the business owner to cover fixed costs whilst the business is closed?
  • One of your staff is a close contact of an person who has covid. Who pays for that staff member whilst they are on 14 days isolation?  What about if a whole shift has to go into isolation?
  • You are a business in the Sydney CBD. How many customers will actually be coming back into the CBD before Christmas?  I can’t see many office based businesses in the Sydney CBD getting staff back soon.  So, if the Sydney CBD remains a ghost town for an extended period, what support is available to these businesses?
  • What happens if the Covid-19 Disaster Payment for NSW residents stops before the business has enough revenue to cover the staff cost? The connection between employer and employee may be lost and when the business is ready to bring back their staff, they may have already found other work.

Business needs some certainty to survive.  To date most support packages have been announced way after the lockdown decisions were implemented by governments.  Business can’t operate that way this time.

They need to know if their business is forced to shut down again through no fault of their own, there will be some support available.   They don’t want to invest time, energy and money to re-open to only be closed down again 2 weeks later with no support.

They want to know if they open up but have no customers, there is some support.

They want to know the light at the end of the tunnel is the opening, not the train coming for them.

The NSW and Federal government need to come out ASAP with their support plans to allow business to properly plan for their business once re-opening occurs.

 

If you want help to avoid the train, contact me below.

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Let Wayne Wanders, a fully qualified and experienced CFO, help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times.

Wayne Wanders, A Real CFO

wayne@aRealCFO.com.au

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