MYOB’s guide to everything your business needs to do to withstand COVID-19

Accountancy software company MYOB has released a Business Preparedness Guide to help small businesses find their way through all the information and tips on how to successfully face the COVID-19 crisis.

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

His company’s guide offers advice on issues such as cashflow management, business continuity and preparing for the eventual upswing, as well as key government announcements and links to government resources. It also features tips on motivating teams and effectively work from home. There’s also a breakdown of wage subsidy and leave support, including how to apply and how much employers are entitled to.

“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,” Ellis said

For business owners considering hibernation there’s information on 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 uncharted environment,” Ellis said.

The MYOB boss said the 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 such a dramatic economic disruption is a challenge for even 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,” he said.

“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.”

You can download the MYOB Business Preparedness Guide here.