In this episode, Bill Lang joins SME TV to discuss the crisis facing many of SMEs right now, but in particular Victorian SMEs.

00:00 – Intro 00:55 – Executive Director, Small Business Australia, Bill Lang
01:02 – Victorian Businesses going it tough
01:18 – The latest news from the Victorian Premier Daniel Andrews relaxing the restrictions and getting semi back to normal. Still not very clear as to what that really looks like
01:54 – ACA research says 72% of businesses are now concerned about their survival
02:00 – that equals 1.5 million businesses
2:11 – Small Business Australia believe in making it simply for everyone and fair
2:40 – Government responses at different levels and states are often very slow to step up or understand the implications of decisions
3:12 – Does Government understand the implications of what we are worth to the economy?
3:30 – Big Businesses in #Australia have been restructuring and cutting back during COVID
3:50 – 5 million people rely on small business for work
4:00 – Small Business need to really think about who they vote for at election times – if they want to be heard
4:30 – We need to vote actively at all levels so politicians know at all levels we are paying attention
5:09 – ABS survey indicates 10% which is about 220,000 will close when government support is ceased, jobkeeper, jobseeker
5:58 – Businesses require customers, customers are the oxygen of businesses
6:11 – Customers are scared to go out and shop because of COVID
6:29 – Crisis of Confidence particularly in Victoria
6:33 – 3% reduction in household spending across Australia. In Victoria it is 30% reduction!
7:49 – 5 million people in lockdown in Melbourne, they can’t go more than 5kms from their home, or stay at home in most cases. The impact to business is catastrophic
8:15 – most Australians don’t trust politicians
8:43 – we have a government who says there is only 1 option. There are always choices
9:39 – Recovery measures that Small Business Australia want to see in place, insolvency, amend bankruptcy laws. Why this will make a difference to businesses 10:47 – Who will be creating the jobs going forward, who will take the risks? Small Businesses of course!
10:45 – Call a COVID Business Closure note #Bankruptcy
11:55 – Zombie businesses
12:45 – Government needs to get smarter by making processes simply
13: 22 – Save our Small Business Petition 10 point plan for each level of government to do
13: 55 – Get professional advice on your business financials – and remember you will get through this even if it means starting again
14: 00 – Hope is not a strategy! Take action and get help