Is JobKeeper ending a scary thought? Have a strategy about what happens next.
With JobKeeper being the lifeline for so many businesses during the COVID-19 pandemic, the reality of it not being around is starting to settle in. With statistics from the ABS showing that two in five businesses are still suffering from significant cash flow issues, fears remain that many will fold when faced with higher wage bills in the coming months after JobKeeper ends on 28 March 2021.
“Cash is King”
As a business owner you know that you must have cash on hand to be able to meet your ongoing financial commitments, cover unexpected expenses and invest in the future.
Without JobKeeper, your business may experience cashflow stress, but you’re not alone; reduced cashflow during the pandemic is the most common stress factor mentioned by businesses, second to the restrictions themselves, (30%).
So what’s your plan come the end of March? Start by refitting the business cost base and look at large lump sum bills, like insurances, which are a negative impact on cashflow.
Ask about Premium Funding.
A Premium Funding solution can help you manage the transition away from JobKeeper payments. Our Premium Funding product was designed to help businesses spread the cost of their insurances over a period of time – essentially as a cashflow positive management tool.
Get in contact with us to discuss whether a Premium Funding solution might be the best start to your cashflow recovery plan.
Gold Coast – 07 5538 8988