Everything brokers need to know about the new COVID support payments

Brokers shall be among the many first people who SME homeowners name when fascinated about their funds, and so it’s important that they’re updated with all the pieces that’s taking place with COVID help measures for small companies.

New South Wales prolonged its lockdown for one more 4 weeks yesterday, with a commensurate enhance in help for these compelled to cease buying and selling or curtail enterprise because of the brand new restrictions.

At each federal and state stage, governments have prolonged choices for SMEs, with headline measures being the JobSaver booster and the 2021 COVID-19 Enterprise Grant, each of which needs to be welcome information to business brokers and their small enterprise shoppers.

“Clarify to your SME shoppers the steps that may be taken to fast-track any help funds by guaranteeing their enterprise and phone particulars are up-to-date with the Australian Enterprise Register,” mentioned Cameron Poolman, CEO of SME fintech OnDeck.

“Additionally encourage them to examine that their private, contact and enterprise particulars are up-to-date of their MyServiceNSW Account and enterprise profile.”

“If small enterprise proprietor don’t have an account, they’ll create a MyServiceNSW Account and enterprise profile.”

“Brokers ought to remind their shoppers that quick, environment friendly funding can be out there via OnDeck to help them with cashflow – or to grab alternatives that will come up resembling pivoting to on-line gross sales throughout this difficult time.”

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