KPMG Business Support
The Northern Territory has some of the most unique experiences and beautiful places in the world. People from across Australia and the world are still dreaming of coming to the Territory, and our team are on-hand to help our industry navigate through the challenging impacts of the COVID-19 pandemic.
Tourism NT partnered with KPMG to deliver immediate and targeted business support to ensure our tourism businesses and operators were ready to welcome back visitors.
Specialist consultants confidentially examined business documentation and held a one hour consultation meeting to discuss key concerns and practical recommendations for Territory tourism operators. Private appointments were available from 24 March 2020 up to the end of October 2020.
The support offered by KPMG was guided by tourism businesses and the immediate assistance required. Advice and recommendations covered:
- Understanding your current cash position
- How to discuss your financial position and negotiate with banks, landlords and suppliers
- Understanding your margins, fixed and variable costs and what your cash position could look like over the next 6 -12 months
- What is specifically available to your business from Federal and Territory stimulus and rescue measures
- Reviewing and re-evaluating aspects of your business recovery strategy and business plan
- How do you continue to engage with your target audience and potentially build on your business' profile now, and what will be the most appropriate type of marketing and communications activity post-pandemic
- How your customer profile has changed and the potential for new or varied offerings to market both in the short term and into the future
- How to reactivate your business when the time is right.
Feedback from industry was positive and welcome of the support:
“Thank you for the follow-up - we found the session with your team at KPMG extremely helpful and exactly what we needed last week."
“Very useful as even when you have an accountant it's always good to get advice, direction and feedback from an outsider.”
“Everything that we discussed was helpful. I was given direction to other avenues that I hadn't looked into. It was all about surviving and moving forward to grow and build on the business when we are back operational.”