It is fair to say that times have been about as tough as they get for Australian businesses. But take heart, general consensus is that the worst may be over. So is now one of the best times ever to take advantage of improving conditions.

business.gov.au is a tremendous place to start as it provides up-to-date information and advice for businesses affected by the global financial crisis.

What you can do

Surviving the economic downturn has taught businesses one thing - look closely at your bottom line to increase your profitability.

There are several ways you can improve your financial situation including seeking professional advice, however there are also a number of small, low cost changes that you can make to your business that will make an immediate impact.

Evaluate your expenditure Start by examining your day to day costs such as rent, telephones, electricity and transport costs and make any necessary cuts. You can utilise cheaper methods of communication such as videoconferencing instead of attending meetings in person.

Look at ways you can reduce the amount of energy and waste levels your business uses. This will save you money and help the environment by reducing greenhouse gas emissions.

And now could be the time to talk to your bank manager or other financier about refinancing or ramping up your business loan while interest rates are low. The Business Loan Finder on business.gov.au can help you find and compare business loan options.

Revisit your business and marketing plans

The continued success of your business is determined by effective planning. By updating your business and marketing plans you can increase awareness of your business and generate more revenue. You could include new business prospects and new services or discounts and look at ways you can promote your business for free. For hints and tips on writing business or marketing plans, see business.gov.au for business planning tools.

Utilise online opportunities Using the internet to communicate and do business can help you reach a much wider market both locally and overseas, as well as saving you time and money. Taking advantage of new and less expensive technologies during an economic crisis or not, is just good business

business.gov.au provides a comprehensive list of the information and resources you can use to plan and run an online business.

Provide excellent customer service to everybody

Marketing your business to gain new customers is crucial in obtaining growth but it is also important to look after your regular customers. Chances are they are doing it tough too. Offer incentive schemes and discounts on certain products and services for repeat customers. Let your loyal customers know that their business is important to you.

Check out business.gov.au's new Grant Finder Many businesses are seeking financial assistance from external sources to further develop their businesses in the current global financial crisis. business.gov.au's Grant Finder helps you to find funding programs from the federal, state and territory governments, and from local councils. Visit business.gov.au for more information.

Stay informed about new Government assistance and initiatives

business.gov.au has new information on Government assistance and funding for business that is regularly updated as new initiatives are announced.

It includes information on tax breaks, support services and training schemes intended to help guide businesses through the challenging global financial climate.

Where to go for advice Recent funding has been awarded to successful Business Enterprise Centres (BECs) to increase their capacity to provide business advisory services to small businesses affected by the current financial crisis.

To find out what services are available for you from your local BEC or registered business organisation, visit business.gov.au.

Keeping your business afloat during the economic downturn may be difficult but there are things you can do and opportunities you can take advantage of. Visit business.gov.au for more up-to-date solutions to the global financial crisis.

business.gov.au is the Australian government's principal, award winning business website. It contains over 2,500 business information items, and truly has something for every business.