No matter what I read or hear, the word “unprecedented” keeps popping up.  Whilst I am positive society has known similar times and came out stronger, I believe this time for us has made us STOP and reassess our work and personal lives.

On the work front, we have had to learn and adapt to having employees set up home offices so they work remotely. Managers have had to learn to manage teams remotely. The internet has been one of the best inventions enabling communication for work, but it’s true potential is only now starting to be tapped. This is our new Virtual Community and we are leveraging all the right communication technology. We are now utilizing video conferencing, Zoom, Skype, emails, phone and even virtual drinks after work.

For now this has become our new business model and who is to say it won’t remain.

Businesses are now seeing firsthand how a Virtual working model can be productive and cost effective.  No need for daily commutes, clock cards, calling in sick because a relative is not well, bringing in sickness to work or office rent. We can still have structure, a united culture and maybe even more availability than previously when we had physical offices.  The whole idea is to get the job done at the most cost effective way.  It’s highlighted that outcomes are what matter most and it’s validated the Virtual CFO model that’s been around for 5 or 6 years now.

Don’t forget to check out the Government Stimulus offers and which ones apply to your business. At the moment I know of at least 10 incentives available to SME’s, such as :

  • 1 PAYGW cash boost
  • 2 Payroll Tax refunds/deferrals
  • 3 Jobkeeper Payments
  • 4 Wage subsidies for apprentices and trainees
  • 5 Business Support Fund grant

 

Terena Lane is a member of the Virtual CFO Association.

The Virtual CFO Association is an elite peer network, that’s been advocating and promoting the emerging VCFO sector within the accounting profession since 2015. Collectively the association currently has over 500 years of industry experience, with highly qualified and experienced specialists spread across more than 20 industry verticals. If you would like any more information regarding the Association of VCFO’s, please visit our website www.vcfoassociation.com.au