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Home Blog COVID 19

Peter Vickers Business Group COVID 19
By Peter Vickers | business, small business, tax, COVID-19, Accounting, Insurance, superannuation, Investment |

 COVID 19 

Dear Team & Clients

The country is clearly in recession. A million entertainment and food workers have been  laid off and thus are not earning income to meet their living expenses.

There are some businesses that are experiencing a shortage of labour like super markets and pharmacies, manufacturers of toilet paper and sanitisers and farmers.

People laid off must be encouraged to look for alternate sources of income.

The same applies for the businesses that have been closed. I noted today that most of the food shops in Lindfield are open for take away or are advertising home delivery but have removed their tables and chairs. That is being entrepreneurial.

It is important that we encourage our clients to work harder to earn income and to be innovative. The worst you can do is give up.

It is income that will keep us afloat not cutting expenses. Deferring repayment of loans, increasing borrowings or deferring tax payments is not really a solution as in six months’ time when we are back to normal payment commitments would be double.

The only real solution is to work harder.

During the GFC Australia became the hardest working country in the world. That is the real reason we did not go into recession. This is an amazing story from a country that was known as a bunch of dole bludgers, who were always taking a sickie and when tea was the major activity of the day. Our national character took over when the emergency had finished we became laid back again. It’s now time to get back and do some hard work.    

Yours sincerely

Peter

Peter Vickers BSc BEc FCA

Principal

'Personal Services, Professional Results'

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Chartered Accountants:  Liability Limited by a Scheme under the Professional Standards Legislation - AFSL 229302  |  Peter Vickers & Associates Pty Ltd ACN 003466813 | Peter Vickers Insurance Brokers Pty Ltd AFSL 229302 ACL 229302 ACN 074 294 081
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