As a business leader, it’s likely that you are facing a set of unique challenges posed by the Covid-19 pandemic. And unless you are one of the lucky few, right now, the future may seem uncertain.
We advise over 10,000 privately owned businesses across the UK, and believe that, whatever the ‘new normal’ post-pandemic, it is important that, for the health of the economy, they are protected and thrive, leading to regional, national and international growth, across sectors including hospitality and leisure, retail and technology.
We have identified three critical phases we believe you will have to navigate during and after the pandemic. Each has its own unique challenges in relation to various important aspects of your business, including; cash flow, operations, people, processes, and production.
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Recently we hosted a series of live panel discussions designed to help support you and your business through this current crisis to a life post lockdown. Topics included; team and operations, people and reward, and your personal finances.
We co-led a recent survey where we asked partners and other senior staff from leading UK accounting firms about their thoughts on the effectiveness of Government support for SMEs, with many calling for significant changes in approach.
We’re here for you and we’re working hard to keep you informed on everything you need to know on business funding, CJRS, outsourced services and more.
If you would like to like to get in touch about any issues impacting you at this time.
As a business leader, you may already be reviewing working capital and cash flow projections, running scenarios on profit and loss, balance sheets and cash flows with various degrees of interruption. It is important to review regularly to manage liquidity risk.
The Government’s Coronavirus Jobs Retention Scheme (CJRS) was introduced to help employers keep staff on their payroll, covering most of their salaries and reducing the risk of mass redundancies. Reboarding is the process of bringing your furloughed staff back to work, as the Covid-19 lockdown restrictions start to ease.
We understand that at this time, your business will be facing a number of unique challenges and that your time will be at a premium. You will most likely need to prioritise managing costs and adjusting operations to cope with a reduced workforce, while striving to survive and adapt.
We understand the importance of financial planning for you as an individual, and the impact that Covid-19 could have on your personal wealth – both now and longer-term.
n the first weeks of this pandemic, many businesses concentrated on cash management, making sure they took advantage of all available government funding.
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