Preparing your business coming out of Alert Level 4
20 April 2020
As anyone reading this will be acutely aware, the COVID-19 pandemic will in all likelihood change the way you do business for a long time to come.
It is imperative to understand where your business is at now, the key risks it faces and its readiness for commencing trading as we come out of Alert Level 4.
At BDO we have developed a suite of business diagnostic tools that are available to assist your business get through the challenges that COVID-19 brings. Our tools cover off following key areas:
- Short-term cashflow assessment including tax options
- Sustainability of operations
- Impact of Covid-19 including the health and wellbeing of key stakeholders
- Shareholder alignment/capability
- Stakeholder support (Banks, Shareholders)
- Strategy and governance decision making
- Balance Sheet strength
- Options available to diversify
You may be eligible for Government support through the Regional Business Partner Program
Short-term action plan
Once we have worked with you to complete our initial analysis, a short-term action plan will be devised covering the key areas for your business to address (see below). The potential output of the above would be a succinct, “fit-for-purpose” plan that prioritises the what, who and when for your organisation and can be used as a roadmap for the upcoming months. It can also be used as a key discussion document for sharing with your business’ stakeholders.
For optimum results, the short-term action plan should also be supported by an integrated cashflow forecast that clearly shows anticipated trading and cashflow requirements.
The following areas would be assessed as relevant to your specific business situation:
If you need support, or have no clear plan as to the way forward then please contact your local BDO office.