Published in City News, February 11, 2011

Brisbane businesses which remained high and dry from recent floodwaters can still expect to take a hit as the disaster hits consumer confidence, a leading Brisbane accountant warns.

elliotts Managing Partner, Matthew Schlyder, said the impact on primary producers will see the price of produce rise for both traders and their customers.

“This will be particularly seen in the areas which have been affected by floods because people nearby will move out until they can live in their house again,” he said.

For flood-affected businesses he said there were a few streams of government assistance available to them, ranging from initial grants of $5000, money to help get businesses back on their feet, low-interest loans and tax offsets.

“People may not know what is out there,” Mr Schlyder said.

“Eighty per cent of our clients here at elliotts are adequately covered from the damage … due to our recommendations for thorough insurance and document management systems.

“I would also like to notify businesses affected by the floods of the ATO’s automatic deferral of the lodgement and payment date for December monthly activity statements.”

Meanwhile a survey by Chamber of Commerce and Industry Queensland (CCIQ) found one in five Queensland businesses had to close down due to partial or full inundation by flood waters, loss of power, or access cuts to their premises.

President David Goodwin said businesses both directly and indirectly affected by flood waters are now dealing with the imminent threat of going under financially.

“Our survey found that 22 per cent of Queensland businesses have been seriously affected by the flood crisis and without greater support many will simply not survive,” he said.

Affected businesses can apply to The Queensland Rural Adjustment Authority for assistance.