Yet, the media is still feeding us with an optimistic view of our economy. House prices keep increasing. In fact, they have increased more than $100,000 on average since august 2020. The unemployment rate is at a record low, below 5%.
How is your business doing during this crisis time?
If you are working in retail, hospitality, building and construction, tourism etc., I guess you are not doing so well. With the “on-off” lockdowns, discontinuous trading, shortage of supplies, and understaffing due to a shortage of skilled workers in Australia and the rise of shipping costs, business is not easy.
Does it make sense? And what do we have to do as small business owners in this time of crisis?
Despite all the challenges we are facing now, there is always light at the end of every tunnel, it just happens that some tunnels appear to be longer than the others.
If you are running a business in Australia, especially in Melbourne and Sydney, most likely you have received some support from both Federal and State Governments like “JobKeeper”, “JobSeekers”, and state grants (Victorian Grant, Disaster support grants, etc.). However, you cannot rely on the government handouts to survive, as the tap is turning off soon.
I believe businesses that do the right thing can survive and thrive throughout the Covid-19 challenges.
