Nobody wants their business to fail. Although it’s impossible to predict the future with 100% accuracy, a cash flow forecast is a tool that will help you prepare for different possible scenarios in the future.
When the government announced the $70-billion JobKeeper program to support businesses and their employees during the COVID-19 pandemic, many small- and medium-sized businesses and non-profit organisations heavily relied on this scheme to stay afloat.
According to a recent survey by the Australian Institute of Company Directors on the impact of COVID-19, over 40% of the respondents reported reliance on JobKeeper payments. 47% of SMEs indicated that the JobKeeper Scheme had provided the most relief.
As you well know, the COVID-19 pandemic is not just a public health issue, it’s also caused lockdowns and resulting financial worries on a global scale.
When anyone is buying into an existing company, or setting up a new company with colleagues, friends or even family, it is essential to document how the relationship is going to work and set ground rules for what happens in the unfortunate event of a dispute.