STAGE 2 – RECOVER
After taking immediate actions to determine your business position and options, you can look to the recovery phase. This will be different for every business, so you’ll need to consider the option that’s best for you. A professional adviser can help you understand the options and future opportunities for your business.
It’s important to take the time to consider your own physical and mental health through the process, as well as the health of your business. Seek support if needed and explore our resources on how to build resilience and take care of your mental health. Refer to the below resources for key information to assist business recovery.
Small Business COVID-19 Recovery Toolkit
As governments begin easing restrictions in stages, businesses will recover at varied paces based on geography and industry. Access our tips, checklists and templates to help start your business recovery.
Uploaded July 2020 | PDF
Roadmap to Recovery podcast series: Part 2 – How businesses can recover from the COVID-19 lockdown
In this podcast episode, Mike Sewell FCPA discusses practical ways businesses can react when they’ve been hit, or are about to be hit, by substantial revenue reduction due to COVID-19 lockdowns. He offers lessons learnt from businesses who've already been through the crisis of their work and clients diminishing, and explains how businesses can prepare and act to ensure survival.
Uploaded June 2020 | Podcast
Impacts of COVID-19 on annual report disclosures
In this publication, joint professional bodies explore the difficulties that directors, preparers of financial statements, accountants and auditors face when disclosing the impact of COVID-19 in their annual reports.
Uploaded August 2020 | PDF
Key risks arising from a pandemic – resource for accountants, risk managers and boards
As organisations continue to respond, recover and re-create themselves, our members are finding themselves taking on a variety of tasks, including strategic planning, risk management, scenario modelling and financial reporting functions. This briefing from the CPA Australia ESG Centre of Excellence explores some of the key risks from COVID-19 that accountants, risk managers and other board executives or advisers, should consider irrespective of size, nature and complexity of business.
Uploaded August 2020 | PDF
SWOT analysis template
This SWOT analysis template will help you identify your business’s strengths, weaknesses, opportunities and threats so you can make smarter decisions moving forward and better understand your business. By addressing these characteristics, it gives you an opportunity to take stock of your business and figure out where you can improve.
Uploaded August 2020 | PDF
Additional reading and resources
Ahead of the curve: Leading from the front during recovery
While the timing of the impact of COVID-19 on different countries varied across the globe, nowhere was untouched. INTHEBLACK spoke to some of CPA Australia’s External Reporting Centre of Excellence members living and working in locations across the world, about how they were managing their staff, clients and other stakeholders through the next stage.
Published June 2020 | INTHEBLACK article
How to expertly handle return-to-work for employees post-pandemic
Historically, the biggest changes in society tend to occur after a major disruption. So as employees are gradually welcomed back to their offices, it’s likely we can expect a dramatic – and timely – shift in the use and purpose of workplaces.
Published July 2020 | INTHEBLACK article