Advivo we are here to help!

By March 31, 2020Blog, COVID-19
We are Here to Help - Advivo Accountants and Business Advisors in Brisbane

Advivo – We are here to help!

Advivo is a specialist advisory and accountancy firm focussed on taking our clients to the next level.  This often means helping in addressing difficult circumstances such as we are all experiencing now with the COVID-19 crisis.

In these unprecedented times procrastination is our worst enemy and fast but well informed decisions are necessary. On Tuesday Advivo provided information on a range of government assistance packages available. These packages won’t necessarily suit all businesses and are only one means of assisting your businesses continuity.

At Advivo, our extensive skills and experience gained over many years is here and available to help you if you want it, providing sound, information based advice on what you can and should be doing to aid the survival of your business and protecting your personal wealth.  If engaged, Advivo can help you with this as well as assisting you in a range of other areas, including helping you assess your business’ viability in the new trading circumstances and various scenario analysis to assist you in making well informed decisions now and into the future. Our financial modelling can assist with breakeven analysis, financial forecasting and what-if analysis as well as cost reduction strategies through waste audits and other analytics.

Here’s what Advivo is doing to help our clients and friends through these turbulent times and we urge you to please contact us sooner rather than later if you would like any assistance with the below.

  1. Business continuity planning:

  • Assistance with access to Government stimulus measures
  • Verification of your own plan or creating one from scratch
  • Assistance with determining and implementing business strategy
  1. Cash flow forecasting:

  • We have a quick, low cost offering to allow businesses to test for future viability
  • Government backed loans are great, but businesses must ensure they can repay it
  • If your business is not viable in this climate it’s better to know this sooner rather than later which can allow you to take decisive action.
  1. Financial modelling including:

  • Break even analysis;
  • Forecasting and
  • Budgeting and cost reduction assistance
  • Scenario testing
  1. Strategic Tax Planning to ensure:

  • You’re receive the maximum PAYGW stimulus payments available to you.
  • You’re taking advantage of the Government’s incentives; and
  • Your tax is legally minimised in the most cost effective, appropriate way.
  1. Asset protection strategies:

  • Protect your hard-earned family wealth and business operating assets
  1. ..and much more!

If you would like our assistance with any of the above please contact us today!  We urge businesses to take decisive action and not delay decisions in the current environment.

Given the impact of social distancing on business our marketing division can even help you move your physical business delivery model to an online model delivering services and products via the internet, this has already been done for Yoga and Pilates studios and other businesses are being implemented as we speak.

In the meantime here are some tips to help you:

    • Stay informed.  Keep in touch with us and other reliable sources.  Links provided will be updated.  Avoid random sources that may be unreliable.
    • Don’t procrastinate.
    • Cash is king.  Manage and be firm with your debtors but adopt a work together strategy.   Communicate with your suppliers and creditors.  Cease non-essential expenditure and do not commit to anything new and unproven.  Consider changing payment methodology to in advance.  Your client might be honest and reliable but if they are not being paid, will they be able to pay you?
    • Stamp out negativity.   Be proactive but firm.  Manage your team and maintain your own positivity.
    • Seek advice when it is needed
    • Communicate, communicate & communicate – regularly and positively.
    • Lastly, tough decisions will need to be made.  The longer this crisis continues the tougher the decisions might be.  Be brave, act swiftly and communicate appropriately.  Decisions should be well informed and whilst not made reactionary should be made swiftly.

Get our latest updates – HERE.