We understand it is a stressful time for all, and the uncertainty of the future is a daunting prospect, particularly for business owners and leaders. Not knowing how long Australia will be in social isolation, how long we will continue to work from home, and whether we will need to decrease staff in our businesses to cut costs all create undue worry.
When we are through the worst, many companies will have significant challenges to overcome in the sense of their workplaces. There are many reasons for this, including revenue reduction, a decrease in company size, and potential slow economic growth in the recovery stage.
Will your company decrease or increase in size?
If you are concerned about your team being significantly reduced or growing due to increased business demand, now is the time to re-evaluate how much space your business needs. If you need to downsize to a smaller office that is lower in rent, now is the time to begin organizing and planning for the future, so you are ready to go, without large operating overheads to worry about, once the economy is back up and running again.
Use this current workplace hiatus to your advantage.
Are your staff currently working from home? Now is the time to do your fit out, or renovate your existing premises, while your team is offsite working from home. You can quickly finalise the design remotely, and complete your fit out during the week, saving time and money, and avoiding the stress and confusion of moving teams from place to place during a build.
You’ll enjoy a seamless and cost-effective fit out experience, and when the teams are back in the office, they have a welcoming new environment that will immediately help reboots the culture of the company.
Instant asset write off for eligible businesses
As a response to the current COVID-19 situation, the Australian government has announced an immediate write-off on the cost of assets. The threshold amount for each asset is $150,000, a significant increase from the existing $30,000, amount. This means businesses can claim tax deductions for the business portion of the purchase cost in the year the asset is first used or installed ready to use. To take advantage of this instant asset write off, it is recommended you complete your new fit out before the end of the financial year.
During these challenging times, team morale may have dwindled, as confusion and stress has begun to set in, in this environment it is more important than ever to prepare your business to be fully operational once this is over.
If you are considering a fit out, now is the time to complete one, and take advantage of the instant asset write off, saving your business time and money. Get in touch with the team at Concept Commercial to discuss your next fit out opportunity and how we can assist.