Consumer Affairs Victoria can help with business recovery in a disaster, such as a storm, flood, bushfire or earthquake.
A range of challenges can confront your business after a disaster.
While support services specific to your industry may be available through government and industry organisations, there are some actions you can take.
We recommend you:
- examine your legal responsibilities with a solicitor: who can help interpret employment contracts, leases, contracts of supply, insurance policies, and give advice on your legal options
- identify all current payments that can be delayed: for example, talk to suppliers about deferring payment of invoices temporarily until the business is trading again
- contact your bank to discuss restructuring any business or personal loans: check if they are willing to delay loan repayments, mortgage payments and the like until the business is trading again
- contact your regular suppliers to advise of your situation: if possible give them an approximate date when you will resume business. If necessary, work out alternative arrangements
- contact your leasing company: discuss alternate payment arrangements
- communicate with the landlord: make arrangements such as temporarily deferring rental payments with an arrangement negotiated for the business to catch up with rent once trading resumes
- inform the Australian Taxation Office on 13 28 66 or visit the Australian Taxation Office website if records have been destroyed
- contact your industry association: see what information is available. Industry associations can often assist with information on employment contracts, alternate suppliers, and consultants who may be able to help you manage the emergency
- contact your clients/customers to advise of your situation: if possible give them an approximate date when you will resume business. If necessary, work out alternative arrangements – similar businesses in your network may be able to assist with supply of product or services.
Company records and late fees
The Australian Securities and Investments Commission (ASIC) may be able to assist if your business is finding it difficult to meet company obligations due to this disaster.
ASIC can review late lodgement and late payment fees incurred because of matters outside your control, and may be able to help you get documents and information from its registers.
ASIC staff will ask for:
- your name and contact details
- your entity name and company, registration or licence number
- details of your current situation
- details of the late payment or late lodgement fee, or the records that have been lost and what you want them to search on in the registers.
For more information, visit the Australian Securities and Investments Commission (ASIC) website.
Consumer Affairs Victoria may be able to help with licences and other records for businesses in industries we regulate.
Last updated: 05/04/2013