The current lockdown is undoubtedly a stressful time for all. But it does have the upside of building a stronger relationship with your clients. Here are few easy ways to achieve this.

#1 Assurance of Remote Support

  • Proactively reach out to clients to assure them of no decline in your service quality.
  • Make reaching out to clients a part of your and your team’s routine.
  • Ensure you are fully equipped to work remotely.
  • Remember that each person’s understanding of technology is different; take the time to walk team members and clients through the workings of remote collaboration tools and be patient.

 #2 Proactive assessment of Client Finances 

  • Stay atop the financial position of your clients.
  • Pay special attention to clients whose business is likely to be affected or are employed by high-risk industries like tourism, healthy.
  • Proactively offer guidance to those who expect to be financially impacted.

#3 Timely Guidance

  • If your clients have been adversely impacted, make sure they act on receiving help at the earliest.
  • Lenders and the government are rolling out support for small businesses and individuals whose income has been adversely impacted by the lockdown.
    • The NSW government is offering weekly COVID payments to small businesses.
      1. $1000 for sole traders and small businesses
      2. Financial assistance of $1500 to $10,000 based on 40% of the company’s payroll
    • The NSW government will be making weekly COVID payments to individuals who’ve seen a decline in income on account of the lockdown.
      1. $325-$375 for a reduction of up to 20 hours of work a week
      2. $500-$600 if the decline is over 20 hours of work a week
    • The Victoria Government is offering support to small businesses too.
      1. Package of $400 million: This includes a new $85 million Small Business COVID Hardship Fund and a $156 million Business Continuity Fund and support for commercial tenants and landlords.
      2. Rent Support: Businesses with an annual turnover of less than $50 million that have seen at least a 30 per cent dip in business can claim a significant rent reduction.
      3. Hospitality Support:  Grants of up to $20,000 for eligible licensed venues that continue to be impacted by current restrictions and an additional $2000 for businesses located within the CBD.
      4. Small Businesses: $5000 grants for around 30,000 traders that have been hit as well as an extra $2000 for businesses in CBD that get business from the office staff.
  • Lenders are also offering a deferment of repayments to existing mortgage holders that have been adversely impacted by the lockdown. Here is a point to note: the conditions to receive hardship support aren’t as lax as the earlier mortgage holidays granted during 2020. It’s, therefore, best to prep adversely impacted clients for a greater level of scrutiny, paperwork and consequently longer turnaround time.

If you are a part of a reliable franchise network, you’ll receive adequate guidance on how to proceed in the wake of such challenges. Click HERE to reach us for a discussion.