Back Office Systems Ltd

The new Small Business Cashflow loan scheme applications open with the IRD tomorrow (14th May). It looks like we can't apply for clients, so business owners are going to need a myIR login for whatever IRD number they are trading under.
Applications are only open for a month. As al ways we are here to help clients with their applications.

A bit more info below

Cash flow loans and support One-off loans are available for small businesses to support their cash flow needs. Find out more about eligibility and how to apply.

Some business related ideas you can still do while in lockdown:
- keep in communication with staff, especially if they aren't working. They will want to here from you. If you can't do online video chats then a phone call every few days to check on their welfare. Especially those who may be isolating alone
- Your stocktake (needs doing anyway for 31st March accounts anyway) so if you still have access to where your stock is, rip into that. Alone
- Review your business systems and procedures. If your staff are now working remotely, how much of a nightmare was that to set up with 48 hours notice? Make use of this time to plan for if things ever get this bad again. If you were ready for Covid-19 you will be ready for anything
- Online courses - there are HEAPS of things you and your staff can do to upskill, both business and personal.
- Software reviews - now is also the time you are going to notice all those software subscription costs that you either don't use, use very little, aren't very efficient. Even more so if you are information sharing and that isn't working very well for you. You want a decent stack of software that crosses over as much as possible, rather than stand alone stuff that creates double entry and other inefficiences
- review your assets ready for end of year accounts and let your accountant know. If you had to set up staff at home to work remotely you probably realised which printers/computers etc are actually obsolete and had to make a quick investment in new stuff. So get those off your asset list
- if you do marketing, review that plan ready for the lockdown ending. Don't flood your contact base with information during the lockdown, everyone is getting too many emails already
- Make a plan for when we restart - will you be ready to burst out the doors or will you need to slowly wind back up? If you need stock from suppliers to reopen, already discuss with them closer to when we have an end date and lock in deliveries so you are ready to go
- boring stuff, but start collating the information you know your accountant is going to ask for, home office data, stock figures, bad debts (sadly any old debts on your books now could no longer be viable)
- overall, use the time you can't work IN your business to work ON your business
- finally, enjoy the few weeks downtime like you might at Christmas. Get outside while we are allowed to, get some fresh air, and come back refreshed and ready to go

We have gotten through the wage subsidy applications for the majority of employers. Our sole trader/annual shareholder salary only people we are getting to you ASAP. If you are anxious about it, and haven't applied already, please email me today as I have room on my To-Do list today to get your sorted