So before we get excited about pubs and bars and cafés opening again, and having a conversation about 4 m² and social distancing, maybe we should have a cold shower to bring down the excitement and talk about how a business possibly covers its rent – as legislation allows landlords to charge full rent again and also ask for makeup of the discounts that were given, as well as pay wages where the capacity of the business has been legally reduced.
If you run a business in hospitality and entertainment and you had a tax debt before your business got shut down perhaps now is the time to talk to Your Business Angels about a restructure so that at least you get to start again without the burdens of historical debt.
Because we have been around lots of industries including hospitality, we know that restaurants and cafés and bars were struggling long before Covid-19 arrived. Opening is fine but having a forward plan that can help your business survive also needs to be considered.
Now would be a good time to consider restructure if you are carrying heavy debt with your hospitality or joe fortune entertainment business, simply because later might be more difficult.
If you love your industry and want to keep going, then a real check-up on your finances and capacity with Your Business Angels may be the difference between surviving and thriving as compared to choking over the coming months.
In business, as in life, opportunity comes typically heavily disguised as complex problems with insurmountable barriers. We so often walk past actions, processes and opportunities that can make a real difference to our business because we believe it’s too far away for us to reach. In so many business cases, it’s a matter of immediate […]
Will you buy a car when you finally get to fly to the Gold Coast for a holiday?
So it looks like we can finally go to the Gold Coast or somewhere else for a holiday, as the border restrictions come down. Getting out from where we are is undoubtedly going to be a relief. I might go a bit further north to the Whitsundays, fly into Proserpine Airport and cruise around there […]
So often, the answer is I had to, or I didn’t have a choice. Typically, when asking a tradie why he started his own business, it was because when he finished his apprenticeship, he had to get an ABN to keep working. So many people have lost their job and had to go back as […]