COVID-19. More effective Sole Trader financial support (in Australia).

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Dear Mr Morrison,

I think you forgot something in your recent stimulus package.

My question - is there a way for the Govt. to help Sole Trader businesses survive a quarantine period?

Sole Traders make up well over one million of the total number of business owners in Australia.

*ABS most recent stats 2015

*97.4% of all business in Australia are small businesses.

*Very small businesses are much more likely to cease trading over time than larger firms. Only 55.9% of non-employing businesses and 68.0% of micro-businesses operating in June 2010 were still operating four years later in June 2014. This compares with a survival rate of 76.9% for small businesses employing between 5 and 19 employees, 81.4% for medium sized firms and 83.7% for large firms.

*There were 1.3 million sole trader, non employing businesses in Australia.

*Non-employing businesses accounted for 62.3% of all small businesses, micro-businesses employing accounted for 27.9% and businesses with 5 to 19 employees accounted for 9.8%

So running a sole trader business that has longevity is a huge challenge PRE coronavirus.

My business has already lost $1,000's of its most profitable income through cancellation of weekend events from the fires/floods and this is set to rise to $10-15k for the year as more events are being cancelled because of Coronavirus.

Just had three full big weekends of work cancelled end of March and April and May. This weekend work is on top of a 12 hour day, Mon-Fri week.

Keep in mind for these types of extremely small businesses there can be little or no provision for:

- sick or carers leave, no holiday pay or super
- zero income for two weeks

Loans/mortgages/rent will still need to be paid

Insurances and fees still need to be paid

Utility costs still need to be paid

Business vehicle running costs

Dead (stock already purchased not being sold) or lost stock as a result of spoilage or just no sales

If I had to self isolate or be forced to isolate for 14 days (as they are in Italy) I'd go out of business. We run week to week on cash flow. If we don't hit our daily target we go backwards, with no real chance of catching up. Except by way of events at weekends, which are now all but cancelled.

Mr Morrison, I am just one sole trader (ST) from 1.3 million+ non employment sole traders in Australia, but this is my reality.

Concerned? We all should be. Australia and this example is a micro image of the 1st World right now.