During my recent travels to Sydney and Brisbane, I’ve had the privilege of connecting with numerous clients, both current and prospective, to gain invaluable insights into the local market. What’s evident is the resilience of businesses amidst the aftermath of COVID-19, particularly in Sydney. While challenges persist, there’s a prevailing spirit of determination and adaptability.
It’s heartening to see how many pharmacies have weathered the storm, often through innovative strategies and the unwavering support of their communities. Despite the loss of foot traffic in larger shopping centres and in the CBD, many pharmacies have persevered, negotiating rent abatements and deferring wholesale terms to keep staff employed and stay afloat. Now, as they navigate the path to recovery, they are confronted with a new set of challenges. Landlords are enforcing abatements, wholesalers are seeking new terms along with two minimum wage increases, and the ATO is pursuing outstanding tax payments. It feels like surviving the perfect storm only to encounter another one immediately afterward.
At Allfin, we understand the unique challenges you’re facing. That’s why our dedicated team is here to offer tailored financial solutions and guidance to help your business not only survive but thrive. We’re committed to being your partner every step of the way.
If you’re a pharmacy or small business in need of support, don’t hesitate to reach out to the Allfin team today.
