Strategies and advice for businesses to stay in control through COVID-19 and get ahead of the pack

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COVID-19 Business Continuity – 30th July

I’m here with the COVID-19 continuity update for Australian businesses on Thursday 30th July.

In today’s briefing:

1. State by state stimulus overview
2. Update on Victoria: face coverings

1. State by state stimulus overview

Today I want to look at the government stimulus we’re seeing in other parts of Australia that have opened up, because this could give us an indication of what we might expect from the Victorian government when they are ready to reactivate the economy. For our interstate clients, this is what is happening in your state.

QLD government stimulus

$267 million building boost package includes:
• $100 million in housing construction – Works for Tradies – includes 215 new social homes by the end of next year.
• $50 million for local government for projects
• $10 million for critical home maintenance for seniors and people with disabilities. Funding is for works including home maintenance, repairs, minor modifications, safety and security upgrades.
• $1.175 million to upgrade existing TAFE training campuses.
• $106 million first home owner grants and regional home building boost

 

NSW government stimulus

• $100 billion infrastructure pipeline over four years.
• $6.7 billion to deliver over 190 new and upgraded schools across the state.

 

WA government stimulus

$2.7 billion designed to boost the state’s economy and incentivise the private sector, including:
• $60 million for “shovel-ready” building maintenance targeted at state government facilities, including police and fire stations, as well as improved disability access at train stations. This will create work for electricians, painters, plumbers, builders and carpenters.
• $167.4 million will go towards capital works projects across Western Australia and another $66.3 million will be spent on renewable energy technologies.

 

TAS government stimulus

• $100 million on 1000 new builds for social housing
• $24 million on 220 affordable homes
• $20 million on public building maintenance

The theme here for our trade based and construction clients is new builds and improvements to government buildings, including school buildings and social housing. Now’s the time to start to look at aligning yourselves with government departments, suppliers and consultants in Victoria who currently work in these areas. If these areas are new to you, speak with Tenfold. Our business coaches can provide advice on who to target the right connections and build strong working relationships.

While many businesses don’t directly benefit from these stimulus announcements, the money flow from these projects generates economic confidence and sets up the trickle down effect as funds flow into the local economy.

I should point out that the states are implementing more financial support measures in addition to those listed above – I have flagged the state funding investments that I see as being relevant to Tenfold clients.

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2. Update on Victoria: face coverings

Face masks or coverings will be made mandatory across all of Victoria from 11:59pm on Sunday 2nd July. In his press conference today, Premier Dan Andrews said that these measures were “essentially stage four”.

“By covering your face, you’re keeping local businesses open, and keeping local people in work”.

This is a positive sign that while we’ve hit a record number of new infections in Victoria today, the government’s view remains that they will keep the majority of businesses open and operating.

Ash

Ashley Thomson B.Eng(Hons), Grad. Dip. Mgmt, MEI
Managing Director
Tenfold Business Coaching

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