Throughout my client base and also from the literature I am reading, Post COVID Blues are happening to all sorts of people. And I, for one, can say I have not been immune.

As 90% of businesses are small businesses, the most significant effect is on small business owners. Staff resigning and requiring time off to battle their issues on top of increased electricity and transport costs.

Recently I have seen a couple of clients wanting to get out of their business, on top of some clients looking at business opportunities of purchasing businesses for the reasons mentioned above. In all cases, we investigated the reasons and found reasonable solutions, such as scaling down the business, retrenching some staff members, and selling part of the business.

You are not alone if you have been suffering something similar to what is described above. Strategies that we have taken are:

  1. Look at your purpose
  2. Review strategy
  3. Cash flow review
  4. Determine business value
  5. Life after business

Points 4 and 5 have proven to be the most interesting. In the two cases where the business owners have been selling, they have grossly overestimated the value of their business. A reality check has had to occur to determine the life they will lead after selling out. And in one instance, the seller took the business off the market.

If you are a business owner and experiencing issues as described above, in the first instance, I am happy to have a chat. Please contact Mark or the team at mark@mcaccg.com.au or 9923 2959.

This is general advice only and not to be interpreted as individual advice specific to your situation. Contact us to discuss the best solutions for your needs.”