What does the $189 billion dollar stimulus package from the Federal Government mean for small and medium-sized architecture practices?
As the COVID-19 pandemic works its way across the globe and through industries, clarity has been the catchcry of businesses already reeling from the pandemic’s financial fall-out.
“There is an economic crisis that has been created by unprecedented and unforeseen circumstances and this requires unprecedented action by Government,” said Management for Design co-founder and principal Robert Peake, which provides financial and business management services to design professionals.
To this end, on 22 March the Federal Government announced a $189 billion dollar economic boost to soften the financial blow of the pandemic.
This is ADR’s summary of those initiatives that will provide support to small and medium-sized architecture and design practices.
Cash flow boost
Instant asset write-off
States and territories
As well as Federal support, states and territories are offering their own stimulus initiatives. Changes to infrastructure spending on government building are woven throughout these initiatives and represent potential opportunities for architects.
For more detail on state and territory initiatives head to the Association of Consulting Architects Australia (ACA).
Read more details directly from the government, including information on additional support opportunities.
The ACA is releasing a series of case studies detailing how their member practices are dealing with COVID-19, including Taylor Robinson Chaney Broderick (TRCB), Fulton Trotter Architects and TheFulcrum.Agency.
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