In this edition of thinkBIG, we take a close look at...

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3 Trade or wind up

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If your business model is fundamentally strong and likely to be viable longer term, you would be looking at strategies to position and improve your business for when normal returns (or whatever normal looks like for your specific industry and business).

Assess and review the situation – “The Health Check”

2 Develop a Recovery Plan

The relaxation of the COVID-19 protocols is good news for business, but do you have a recovery plan? 
What's your plan?

If, you have concerns about ongoing viability, 
it is critical that you reach out early. 

By now you have likely put your business hibernation plans into action and are continuing to grapple with the endless daily updates, moving goal posts, and ongoing capital and funding requirements. 

In order to help you emerge from this crisis with as little impact as possible on your business and personal finances, we cannot stress how important it is to continue to review and monitor your position; pressure test your strategies; and seek external support, feedback and advice. 

We are continuing to experience the ongoing impacts of the lockdown, however welcome relief is on the horizon. 

Developing a Recovery Plan may be the most important thing you do in 2020.

IN THE SERIES

thinkBIG report  3:

Going for Growth

thinkBIG report  2:

Asset protection vs tax optimisation - how do you achieve the balance? 

thinkBIG report  1:

Six technology investments every SME must make

To access our ongoing analysis and view more resources to deal with the impact of coronavirus on your business, visit our COVID-19 advisory centre at: 

Contact us

HOW CAN WE HELP YOU?

LOCATE NEAREST OFFICEEMAIL US A QUESTION
rsm.com.au/coronavirus

In business, there are many risks that are simply out of your control.

In a post-COVID-19 world, your major supplier could go broke, or a client could fail to pay a significant invoice. In life, a marriage breakdown could create upheaval, or someone may hurt themselves on your property and decide that you’re responsible for their medical expenses. Or, your business may be hit with unexpected lawsuits – there could even be a fall out with a business partner.

This thinkBIG report takes a closer look at one of the great conundrums for owners of small businesses - the balance between asset protection and tax optimisation.

Asset protection vs tax optimisation

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We can work to limit your losses, review your risk and asset protection strategies, and generally seek to support your recovery.