We’re here to help small business, social enterprise and not-for-profits
As difference makers you’re no stranger to challenge, risk, to big thinking and untravelled roads. This COVID-19 crisis has come upon us quickly and impacted us on all fronts. But as daring entrepreneurs this is not a moment to shrink back.
This is an incredible moment to reinvent.
Sometime all you need is a new perspective. As business innovators, TDi is here to help you navigate your business, create blended value that address social problems and lead your team to a better place than before.
Business Continuity Coaching
- What do I need to do to secure my cashflow in this crisis?
- What are my options?
- How do I make hard decisions with grace and dignity?
- How do I lead my team and stay sane myself?
Through a series of dedicated online video calls we will work with you so that you can lead your team with a strong plan to adapt to the crisis and make the most of the next 6 – 18 months.
New Idea Prototyping
Got an idea for a new product, business idea or customer segment?
Milton Friedman once said, “only a crisis produces real change. When a crisis occurs, the actions taken depend on the ideas lying around.” From our conversations there are plenty of you reaching for those ideas and looking to make something of them.
We will work with you to identify, map, and test new products or new customers. This will take place over short video conferences using a series of questions and tools.
Support Available to you
For all other countries, please refer to your government website for more information on what is available to you.
learn more about
support available to you
The following information is relevant for Australian businesses only.
VICTORIA Sole Trader Support Fund
The $100 million Sole Trader Support Fund provides support to non-employing Victorian sole traders operating out of commercial premises or locations within specific sectors. Eligible sole traders will receive a grant of $3000.
JobKeeper payment – UPDATED
On 21 July 2020, the Government announced an extension of the JobKeeper Payment until 28 March 2021, targeting support to those businesses and not-for-profits who continue to be significantly impacted by the Coronavirus.
- The existing JobKeeper Payment will remain in place until 27 September 2020. Information about the operation of the JobKeeper Payment until 27 September 2020 is available on the ATO website. From 28 September 2020, the JobKeeper Payment will be extended for businesses and not-for-profits that have been most significantly impacted, the payment rates will be stepped-down and two tiers of payment will be introduced.
The JobKeeper Payment rate is to be reduced and paid at two rates:
- From 28 September 2020 to 3 January 2021, the payment rate will be $1,200 per fortnight for all eligible employees who, in the four weekly pay periods before the reference period, were working in the business or not-for-profit for 20 hours or more a week on average and for business participants who were actively engaged in the business for more than 20 hours per week, and $750 per fortnight for employees who were working in the business or not-for-profit for less than 20 hours a week on average and business participants who were actively engaged in the business less than 20 hours per week in the reference period.
- From 4 January 2021 to 28 March 2021, the payment rate will be $1,000 per fortnight for all eligible employees who in the four weekly pay periods before the reference period, were working for 20 hours or more a week on average and for business participants who were actively engaged in the business for more than 20 hours per week, and $650 per fortnight for employees who were working for less than 20 hours a week on average and business participants who were actively engaged in the business for less than 20 hours per week in the reference period.
Further changes were announced on 7 August 2020 to adjust the reference date for determining employee eligibility and make it easier for organisations to qualify for the JobKeeper Payment extension.
From 28 September 2020, businesses and not-for-profits seeking to claim JobKeeper Payment will be required to re-assess their eligibility for the JobKeeper extension with reference to their actual turnover. The JobKeeper extension will be available to qualifying businesses and not-for-profits from 28 September 2020 until 28 March 2021.
More information on eligibility can be found here on the Australian Government Treasury website.
The ATO is administering the JobKeeper Payment and detailed information and guidance on JobKeeper is available on the ATO website.
Original JobKeeper program details below:
If your business has been significantly impacted by the Coronavirus you will be able to access a wages subsidy to continue paying your employees. Under the JobKeeper program, you will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a maximum of six months. This assistance will help you keep staff and will help you restart when the crisis is over.
- Employers (including not-for-profits) will be eligible for the subsidy if, at the time of applying:
their business has an aggregated turnover of less than $1 billion (for income tax purposes) and they
estimate their turnover has fallen or will likely fall by 30 per cent or more; or
- their business has an annual turnover of $1 billion or more (for income tax purposes) and they
- estimate their turnover has fallen or will likely fall by 50 per cent or more; and
their business is not subject to the Major Bank Levy.
- Self-employed individuals will be eligible to receive the JobKeeper Payment where they meet the relevant
- For charities registered with the Australian Charities and Not-for-profits Commission (ACNC), they will be eligible for the subsidy if they estimate their GST turnover has fallen or will likely fall by 15 per cent or more relative to a comparable period.
For more information, click here.
Business Support Fund (Vic Only) – NEW FUNDING ROUND
The Victorian Government has released a third round of the Business Support Fund. Eligible businesses will receive grants of $10,000, $15,000 or $20,000, depending on the business’ annual payroll. There is a list of eligible sectors here, and in addition business must:
- operate a business located within Victoria; and
- participate in the Commonwealth Government’s JobKeeper Payment schemeExternal link (opens in same window); and
- employ people and be registered for Workcover InsuranceExternal link (opens in same window) with WorkSafe Victoria; and
- have had an annual payroll of less than $10 million in 2019-20; and
- be registered for Goods and Services Tax (GST); and
- hold an Australian Business Number (ABN); and
- be registered with the responsible Federal or State regulator.
For more information, click here.
COVID-19 National Funding Platform
- Australian Communities Foundation and Philanthropy Australia have partnered to provide a national funding platform to coordinate the philanthropic response to the COVID-19 pandemic.
- The platform empowers a centralised and coordinated funding approach to supporting the community through the pandemic, with one point of contact to assist with brokering support across the board.
- Visit it here: https://www.communityfoundation.org.au/making-a-difference/granting-opportunities/
Retail and Commercial Leases
The National Cabinet has released a Mandatory Code of Conduct on SME Commercial Leasing Principles During COVID-19. The code and its principles will be implemented and regulated by each state or territory, and is still as at 29 April being finalised and not yet legislated across Australia. You can find more information on the code and its principles here.
ATO Relief – “Boosting Cash Flow” and PAYGW Refunds
Legislation has passed to provide temporary cash flow support to small and medium businesses and not-for-profit organisations that:
- employ staff between 1 January 2020 and 31 October 2020
- have a turnover of less than $50 million
- have been affected by the economic downturn associated with COVID-19 (novel coronavirus).
Eligible businesses and not-for-profit (NFP) organisations will receive between $20,000 to $100,000 in cash flow boost amounts by lodging their activity statements up to the month or quarter of September 2020.
- 100% of PAYG withheld between March 2020 and June 2020 (minimum of $10,000 and maximum of $50,000) will be credited to a maximum of $50,000 for the six month period.
- An additional payment for June — September 2020 period, equivalent to the to the total PAYG withheld for March to June 2020, will provide a total refund of up to $100,000 per entity.
To access the cash flow boost, you must lodge your activity statement for PAYGW.
PAYGW credits will apply on a per entity, ABN basis. Therefore, if you have two entities conducting business in your group structure each entity may be eligible for PAYGW BAS credits.