For many small business owners, financial pressure is often one of the biggest sources of stress, with research indicating that it also can impact on the mental health and wellbeing of small business owners.

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Ahead for Business welcomes news that the Australian Federal and State Governments have released a range of financial support packages, grants and measures for small businesses impacted by COVID-19.

According to Everymind Acting Program Manager, Dr Sally Fitzpatrick, the current adverse event of COVID-19, coupled with the financial stress of reduced income, staff illness, supply and operational restrictions means it is more important than ever to prioritise mental health and wellbeing.

“With more than four million small business owners and sole traders in operation across the country, small businesses are the largest employment sector in Australia and as such are an important setting for a focus on mental health,” Dr Fitzpatrick said.

"The healthier and more resilient a small business owner is, the healthier their business has the chance to be.

"Which is why it is important to acknowledge how the current climate may impact on an operator’s mental health and wellbeing and provide them with specific support to weather uncertainty.

"Financial support is incredibly helpful, but linking small business owners to mental health and wellbeing support and resources is also vital.”

For more information on the government grants and financial packages please see the below links.


Work and your mental health during the coronavirus outbreak

Beyond Blue has produced information, tips and links to useful resources to help employees, managers and small business owners impacted by the coronavirus (COVID-19).


Federal Government

Department of the Prime Minister and Cabinet: Supporting Australian workers and business: www.pm.gov.au/media/supporting-australian-workers-and-business

The Federal Government: Economic Response to the Coronavirus: www.treasury.gov.au/coronavirus

Council of Small Business Organisations Australia: Information about COVID-19: www.cosboa.org.au/covid-19

Australian Taxation Office: COVID-19: www.ato.gov.au/individuals/dealing-with-disasters/in-detail/specific-disasters/covid-19/

Australian Taxation Office: JobKeeper payment: www.ato.gov.au/general/gen/JobKeeper-payment/

State Government

ACT

ACT Government: Covid-19 Economic Survival Package: www.apps.treasury.act.gov.au/budget/covid-19-economic-survival-package

NSW

$10,000 cash grants for unavoidable business costs such as utilities, overheads, legal costs and financial advice:
https://www.nsw.gov.au/your-go...

NSW Government: $2.3 billion health boost and economic stimulus: www.preview.nsw.gov.au/news/health-boost-and-economic-stimulus

NSW Small Business Commissioner: COVID-19 (Coronavirus): information for small business owners: www.smallbusiness.nsw.gov.au/get-help/covid-19-coronavirus-information-small-business-owners

NT

NT Government: Jobs Rescue and Recovery: www.business.nt.gov.au/recovery

QLD

Queensland Government: Immediate Industry Recovery Package: www.qld.gov.au/about/industry-recovery/about-this-package

Queensland Government: Business and industry support: www.qld.gov.au/about/industry-recovery/business-and-industry-support

SA

SA Government: Economic stimulus package to help drive the South Australian economy and secure local jobs: www.premier.sa.gov.au/news/media-releases/news/unprecedented-response-and-economic-stimulus-to-drive-sa-jobs,-economy-in-wake-of-bushfires,-coronavirus2

TAS

TAS Government: Ministerial Statement COVID-19 Response Measures: www.premier.tas.gov.au/releases/ministerial_statement_covid-19_response_measures

VIC

VIC Government: Economic Survival and Jobs Package: www.business.vic.gov.au/support-for-your-business/grants-and-assistance/economic-survival-and-jobs-package

WA

WA Government: Coronavirus: COVID-19: Western Australian Government response: www.wa.gov.au/organisation/department-of-the-premier-and-cabinet/coronavirus-covid-19-western-australian-government-response

WA Government: COVID-19 economic response: Relief for businesses and households: www.mediastatements.wa.gov.au/Pages/McGowan/2020/03/COVID-19-economic-response-Relief-for-businesses-and-households.aspx

Banking

Australian banking Association: Banks announce Small Business Relief Package: www.ausbanking.org.au/banks-small-business-relief-package/

Latest news after second stimulus package announcement

ABC News: Federal Government offers $130b in coronavirus wage subsidies for businesses to pay workers: www.abc.net.au/news/2020-03-30...

ABC News: Government's $66 billion coronavirus stimulus package seeks to keep businesses afloat and workers employed: www.abc.net.au/news/2020-03-22/coronavirus-second-stimulus-economy-federal-government/12078982

Inside Small Business: Government announce more stimulus for small business: www.insidesmallbusiness.com.au/featured/government-announce-more-stimulus-for-small-business

MYOB: COVID-19 – Summary of economic stimulus available to businesses in Australia and New Zealand: www.myob.com/au/blog/covid-19-goverment-support-for-businesses/

MYOB: COVID-19: Australian Government announces $66.1bn second stimulus package: www.myob.com/au/blog/second-coronavirus-stimulus-package-announced/

Supporting information

Is money keeping you up at night?

Learn more about the impact of financial stress and tips for dealing with it.

aheadforbusiness.org.au/topics/details/financial-stress

Assess your mental health

Adverse events can have a significant impact on the mental health and wellbeing of small business owners. Now may be a good time to assess your mental health. Take our Mental Health ‘Check-Up’.

aheadforbusiness.org.au/mental-health-screen

Set your own goals.
Track your stress levels.
Get ahead for business.

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