Reliable Bookkeeping Services in Melbourne

Do you remember your mother used to save some money for any emergency? She did it very well. Such habit of mothers is also applicable to businesses. The year 2020 has taught us the importance of emergency funds for our business. If you opt for a professional bookkeeper service , they always advise you to keep aside some business emergency funds. All small businesses must have availability of emergency funds. Such funds can assist you to bridge the gap between temporarily ceasing operations of a business and moving out of the business altogether. When you are not able to offer goods and services for sale, such emergency funds can help you to pay the bills during such times. As you can see there are abundant benefits and no drawback of having an emergency fund, so get started today! Emergency Funds can be divided into two categories: a)    Long-term emergency funds In this category, you save for large-scale emergencies such as major disasters or a sudden medical emergency.

This article covers the recent announcements from the government and what they could mean for the businesses including Tourism Aviation Network Support, the expanded SME Loan Guarantee Scheme and an extension of the Business Events Grants Program. The Federal Government has declared various stimulus measures and the extension of some existing measures for the period following the end of the JobKeeper Scheme. The SME Loan Guarantee Scheme will get extended till December 31 st , 2021 even though access to the scheme is restricted to the businesses which were the recipients of JobKeeper payments for the period between January 4 th , 2021 and March 28 th , 2021. This was specifically for the small businesses with a turnover of up to $250 million. Some other basic changes in this scheme include:   *   An increment in the proportion guaranteed by the Government. ·         *   Increment in the size of eligible loans from $1 million to $5 million. ·         *  The turnover threshold incre