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Maintaining business resilience during times of upheaval will require leaders to gain an organisation-wide view that includes financial, operational, commercial and communities.
We see four stages that outline the path through recovery:
Reaction. All organisations are simultaneously impacted as professional and personal lives are disrupted. Volatility and uncertainty permeate society as the primary focus is on limiting damage to lives and livelihoods as we weather the unprecedented storm.
Resilience. Controls loosen as virus spread is contained and/or a vaccination or cure is available. Consumer demand begins to return but is constrained by lost wages, investment losses and recession fears.
Recovery. Anxiety passes and hiring, investment and consumer sentiment cautiously improve. Recovery paths for organisations will vary based on ability to limit damage from the Reaction stage, length and severity of recession, post COVID-19 industry demand and willingness to adapt.
New Reality. A number of enduring shifts will remain post recovery as many learnt behaviours born out of the crisis will become central to the new normal.
Managing through the current challenges, and imbedding resilience for recovery and the new reality will be challenging, but together we can work on the answers.
The subjects below will further help you understand your business’ exposure to disruption caused by COVID-19, and could help you position your business to be more resilient.
Business resilience
Financial Resilience
Approaches and options available to organisations to tackle COVID-19 challenges, as well as emerging and future issues.
Operational Resilience
Meet the operational challenges created by COVID-19 impacts and set your business up for future resilience.
Commercial Resilience
Maintain and protect your commercial resilience through the COVID-19 economic impacts and beyond.
Community Resilience
How businesses and government are helping our communities through the impacts of COVID-19 and find stability on the other side.
Latest Insights
Read our latest insights on business resilience in the time of COVID-19.
Small to medium enterprise
Explore our practical advice aimed at helping emerging, private and mid-market businesses facing COVID-19 difficulties.
Explore our insights for SMEs
- COVID-19: Government assistance programs
- ATO compliance: COVID-19 tax scams
- ATO compliance: JobKeeper and super amnesty ending
- COVID-19: SME Survival Phase Two – Rebuilding your business
- Hospitality Sector's Next step – Time to open?
- Helping SMEs survive to thrive
- COVID-19 Superannuation update for SMSF trustees
- Focus on costs is the key to sustainability for SMEs
- Code of Conduct and rent relief for SME commercial tenancies – update
- Financial stress testing for SMEs
- JobKeeper Legislation – further details for SMEs
- A time for transformation and thinking for the future
- Practical advice for private and family clients
- Small Business Banking Relief Package – updated
- Local Government Response Plan
- Protecting your business from cyber crime
- Second Stimulus Package and how it affects SMEs
- Workforce management and remote working for SMEs
- Hospitality sector forced closure response for SMEs
- ATO support for businesses and individuals
Subscribe here for regular updates on matters affecting small and medium enterprises.