Effective governance and risk management is critical for NFPs to help navigate the Coronavirus (COVID-19) pandemic crisis.

Your community, organisation , partners and donors are now facing a significant number of critical risks and recognise we are in a crisis scenario. 

Risk management at this time is a proven and effective tool to guide NFPs in their planning, mitigation and response to the issues and challenges they will be facing now and in the next few months. 

On 30th March 2020, the Government announced a $130 billion wage subsidy to combat the impact of COVID-19 on the Australian economy. The Government has provided further support to Australian businesses and encouraged businesses to keep their workers employed by providing a “JobKeeper” payment to eligible employers for eligible employees.

The course of the COVID-19 pandemic and the ultimate effect on our lives is nearly impossible to predict.  The associated impacts have prompted businesses to consider their contractual obligations and whether force majeure provisions may apply.  Our head of Legal, Alexander Nielsen, explains further.

The Territory Government’s $50 million Small Business Survival Fund is specifically targeted at supporting industries such as retail, hospitality, tourism, and entertainment businesses, including beauty parlours and gyms, who are bearing the brunt of this national crisis. 

The South Australian Government has announced they are adding $650 million to the first support package of $350 million announced a fortnight ago.

The National Cyber security committee lifted on the 25^th March the threat preparedness level to level 4 – lean forward – which means that the threats and activity are escalating and likely to increase and organisations must increase their monitoring.

COVID-19 is doing more damage to our Territory economy than any natural disaster ever has. In response the Territory Government will deliver a $50 million Small Businesses Survival Fund to help Territory businesses survive the unprecedented economic impacts of the coronavirus outbreak.

The Coronavirus Economic Response Package Omnibus Bill 2020 received Royal Assent on 24 March 2020 and is now law. The package included various changes which were announced in the two stimulus packages released recently by the Government.

Geelong Council met on Tuesday night and agreed to a series of immediate measures to help local businesses and the community cope with the impacts of the Coronavirus pandemic. 

The government announced a second stimulus package worth $66 billion in an attempt to deal with the impact of COVID-19 on the Australian economy.