Date posted: 20/01/2021 5 min read

Business Recovery Post The COVID-19 Lockdown

Business recovery after the pandemic is a slippery slope depending on what industry you're in. Learn how you can implement business continuity and disaster recovery.

As we move into the first months of 2021, there are glimmers of hope in the Australian economy. The spread of the COVID-19 virus has slowed, vaccines will start rolling out soon, and the economy is reopening, if slowly.

Chartered accountants have been at the forefront of helping their clients’ businesses survive the pandemic and navigate access to the fiscal stimulus which has been on offer from governments. They have been the “go-to” advisers for their clients.

The advent of 2021 is a chance for CAs to reboot mentally, and to prepare themselves and their practices to participate in the recovery. It’s time to look beyond the pandemic and focus on thriving, not just surviving, and help their clients to do the same.

Mario Machado, national practice leader, work health and safety, for Aon in Australia, says the process is both physical and mental.

“Last year was very tough and getting into a positive mindset for the future is going to require a conscious process from many of us.”
Mario Machado, Aon

“Last year was very tough and getting into a positive mindset for the future is going to require a conscious process from many of us,” he says.

“Wellbeing, both mental and physical, will be at the centre of that approach. It will provide a strong basis to approach a checklist of tasks and projects which can be a springboard for a successful year next year.”

Resetting for growth

As they reset for growth in 2021, CAs can leverage a range of resources on offer from professional services firm Aon.

Aon is well known for its insurance solutions tailored for the risks commonly faced by CAs, but also has expertise and service offerings across areas such as wellbeing, cyber risk, business continuity and employee engagement.

Aon has compiled some resources and insights for CAs across these areas and accessing these resources can assist with resetting the mindset for growth.

“Many CAs, especially the SME practices, will have been in a holding pattern through 2020, but with the pandemic lifting it is time to change gear and prepare for growth, both for CA firms and their clients,” says Tanya Dasgupta, national professions leader, affinity, at Aon Australia.

“Many practices must have been working on ideas for their business before the pandemic struck and will have put these projects on hold. Now is a good time to undertake a checklist and create a fresh momentum and approach towards growth.”

Access a checklist of resources and insights

As Member Benefits partner for CA ANZ, Aon is pleased to provide a checklist of resources and insights for CA ANZ members that will inspire and assist them to reset and renew their growth ambitions. Even if the timing is not right for the full plan, it might be possible to make a start, get some runs on the board and then be ready to scale up when the moment is right.

Some businesses may be in a position to recruit staff, and it might be a good time to kickstart that process and get them on board as the business builds capability for the future.

The COVID-19 disruptions have seen unprecedented demand for advice from CAs and shown that the future of the profession is a trusted strategic adviser to business clients.

Part of pressing reset could be reviewing this advisory side of the business, and regrouping to ensure that it continues to grow and improve.

Aon has resources for CAs across eight different operational areas, and they can all be accessed at aon.com.au/reset

© 2020 Aon Risk Services Australia Limited (Aon) ABN 17 000 434 720 | AFSL 241141

The information contained in this article is general in nature and should not be relied on as advice (personal or otherwise) because your personal needs, objectives and financial situation have not been considered. Before deciding whether a particular product is right for you, please consider your personal circumstances, as well as the relevant Product Disclosure Statement (if applicable) and full policy terms and conditions available from Aon on request. All representations in this article in relation to the insurance products we arrange are subject to full terms and conditions of the relevant policy. Please contact us at Aon if you have any queries.

Find out more

View our resources for CAs today at aon.com.au/reset or contact us on 1300 836 028 or au.ca@aon.com

Reset Resources

Resources you need to readjust, rebuild and reembark on the road to economic recovery.

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