Many businesses in Victoria are currently eligible for grants from the Victorian Government in response to the restrictions imposed due to COVID-19.
The Victorian Government’s Business Support Fund 3 will provide $822 million to small and medium sized businesses throughout metropolitan and regional Victoria, with applications closing on 23 November 2020.
Depending on their size, businesses can apply for grants of $10,000, $15,000 or $20,000 to be used for:
- meeting business costs, including utilities, salaries or rent;
- seeking financial, legal or other advice to support business continuity planning;
- developing the business through marketing and communications activities; or
- any other supporting activities related to the operation of the business.
Businesses who make business continuity plans now will be in a better position to manage the ups and downs until things return to ‘normal’. A business continuity plan documents the steps you need to take to keep your business running and cash flow coming in. It makes good business sense to think about how you will manage now and into the future.
In addition to reviewing your finances, reviewing how you employ staff can also be an essential part of business continuity planning. Do you have the right staff, in the right roles with the flexibilities you need? Do you have too many staff but are unsure how to reduce staff numbers in a way that complies with workplace laws? Do your contracts of employment and policies allow you the flexibility to run your business in the way you need?
Understanding pay rates and Award entitlements will also help guard your business against any potential underpayment claims in future, which could have a big impact on cash flow. Ensuring you have good employment and HR foundations is a key part of any business continuity plan, given how important staff are to your business.
At Robertson Hyetts, we can assist you with business continuity planning and ensure your legal obligations around staff are being met. We can provide you with employment contracts, write policies tailored to your business and help you to restructure your business, including advice about redundancies or redeployment, if needed.
Applying for a government grant which allows you to seek professional legal advice about employment law and HR makes good business sense. This is a great opportunity that shouldn’t be missed.
Call us today for a no obligation quote about how we can assist with your employment law and HR business continuity planning. And don’t forget, applications close on 23 November 2020.