“One of the biggest concerns for business, irrespective of sector or size is uncertainty, and the COVID-19 crisis has brought that to a new level – indeed to some extent, it makes Brexit look like a pre-season training session.”
In our latest New Reality video, I discuss the shift in focus from cash preservation to business forecasting as we prepare to emerge from lockdown.
The uncertainty around the timing and nature of when lockdown will be lifted is likely to impact businesses – particularly in areas such as customer demand and supply chain. An action businesses’ should consider is communicating forecast plans with key stakeholders to ensure they stay on board during this difficult time.
“Rarely do we get to a position that we cannot find a solution, ranging from raising new finance and selling off peripheral assets to even more extreme measures, like the use of the existing or new insolvency legislation.”
For more information on this topic you can view our guidance on restructuring, where you will find all you need to know about fixing a business. You may also wish to view our article on the Government’s introduction of the Corporate Insolvency and Governance Bill.