The Shopping Centre Council of Australia has pledged to help retailers around the country survive the financial impacts of the coronavirus crisis following the federal government's stimulus package announcement.

SCCA Chairman Peter Allen the welcomed the $66 billion package and support for small to medium-sized businesses confronting the impact of COVID-19 disruptions on their businesses and said the Council was committed to providing further support to retailers. 

"We are working closely with the Federal Government and financial institutions to develop a suite of further measures that will support our retail partners as they navigate through this unprecedented period," he said. 

Coronavirus stimulus package support for business -At a glance: 

• Not-for-profits and small businesses with a turnover under $50 million will receive a tax-free cash payment of up to $100,000 to help them retain staff and continue operating.
• This measure will benefit around 690,000 businesses employing around 7.8 million people, and around 30,000 NFPs (including charities).
• ​The Government is temporarily increasing the threshold at which creditors can issue a statutory demand on a company and the time companies have to respond to statutory demands they receive.

“We are pleased the Federal Government’s initiatives and financial support are aimed at stabilising Australian business through this volatile period especially our nation’s ‘mum and dad’ small retailers. 

“Our industry understands the economic shock that COVID-19 is having on the economy and especially retail and we are committed to playing our role in helping our retailers to get to the other side, including both financial and non-financial measures."

Australian retailers are feeling the full force of the coronavirus spread. Source: Depositphotos

As part of the stimulus package, not-for-profits and small businesses with a turnover under $50 million will receive a tax-free cash payment of up to $100,000 to help them retain staff and continue operating, while the government is also temporarily increasing the threshold at which creditors can issue a statutory demand on a company and the time companies have to respond to statutory demands they receive.

Mr Allen said it was "vital" for the business community and government to work together to support cashflow and jobs across the economy.

“We know small to medium-sized retailers are more vulnerable and our members are already working to help their retail partners at this exceptionally difficult time,” he said. 

Click here for more information about the Shopping Centre Council of Australia.

Similar to this: 

Neighbourhood centres demonstrating resilience in 'challenging' retail landscape - Savills

Great Western Super Centre sold for $84.5 million

Strong interest in Woolworths assets expected as confidence in sector continues to rise - JLL