Life After COVID

The end of COVID

Now that COVID is officially ‘over’, at least accordingly to mandatory isolation rules coming to an end, we are starting to see the business landscape that exists in a post pandemic world. Now the last two years has seen many businesses receive unprecedented levels of government grants. Whether that was JobKeeper, JobSaver, Business Services Grants or many of the others available, on average most businesses would have received on average I would say at least $40,000. Coupled with that if you had a good rental agreement with your landlord, some businesses managed to thrive especially if they could make sales through other avenues during that time.

What happens next

Now that the stimulus tap has turned off and we have big headwinds in interest rates, staff shortages, wage increases and rising costs, we are starting to see the true effects of COVID and lockdowns wash through. Some industries have benefitted greatly – transport and logistics, hospitality out of the CBD close to now permanent home workers and e-commerce and example of some winners. But on the flip side there have been some losers too, such as CBD hospitality and fitness, particularly in Victoria. Business owners need to be more active in their business and ensuring they are innovating and pivoting to ensure they remain profitable.