For many businesses wage subsidies in the form of Jobkeeper have been a way of life for the past 12 months. With 259,000 Queenslanders still on Jobkeeper those businesses must be asking, what will life look like after March 28 and how should you prepare?

Cash flow

First things first, you need to be reviewing your cash flow. What’s coming in and what’s going out? Are there any costs you can cut, are there any that aren’t absolutely necessary and can be put on hold until the business is back on its feet? Are there cheaper alternatives to products or services you’re currently using?

ATO debt

As part of a cashflow analysis it’s important to check on any ATO debt you might have. Do you have payment plans in place? Are those payment plans currently on hold? When will payments be recommencing? Are your lodgements up to date?


Once you’ve got a handle on your ATO responsibilities it’s important to ensure you’ve been meeting your employee’s superannuation obligations. Are they paid in full? If you need to reduce staff numbers you’ll need to pay superannuation obligations, do you have the capital make those payments? 


When COVID took hold many lenders provided loan holidays, some more generous than others.  Personal loans, business loans, car loans, mortgages, look at what loans you have, where your repayments are at, and if any payments are due to recommence. Make sure these are factored into your cash flow.


Now that you’ve got a good look at your cash flow you can conduct some basic forecasting. Determine whether you’ll be able to make ends meet now that you know what your profits and expenses will be. Look at your best-case and worst-case scenarios.


Have you got access to capital? If not, are there any ways you can increase liquidity? Look at your payables, is there any room for flexibility when it comes to these payments?


Now is the time to conduct profitability reviews. Take a look at the products and services you’re offering, are they still providing a reasonable profit margin? Are some performing better than others? This is the perfect opportunity to determine whether you should be adjusting your product or service offering based on profit margins. There’s nothing to say you can’t revert back once the business is tracking nicely.

While you’re looking at profit margins, look at any opportunities to build in recurring revenue? Do your products or services potentially work on a subscription basis to ensure your revenue is frequent and reliable?

You’re not alone

It’s worth reiterating that between April and September in 2020 more than 700,000 Queenslanders were accessing Jobkeeper payments. Since December that number has diminished to 259,000. You’re not alone, if you need any assistance planning for the next few months after Jobkeeper give the Qubik team a call on 07 3205 8938.

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