Surviving in Difficult Times

Business Advisory Services Updates

With the general business uncertainty accountants are going to be in ongoing demand from their clients to assist them to survive. 

There are many key aspects of a business to be considered including:

• identification of government grants for your clients;
• determining how the business is controlling its day-to-day activities relative to productivity;
• mark-ups;
• charge out rates;
• fees and retail prices set at levels which will generate the business’ targeted profit;
• review of the policies relative to customers – is regular feedback being obtained – is this information being passed on to the leadership team?

It is important that all of these reviews lead to the business’ cashflow forecast so changes can be made so the leadership team is looking at realistic forecasts. 

Question to be asked–Does the business need to increase its funding? If so-how? Loans or perhaps a capital raising? 

The “Survival in Difficult Times” product package produced by ESS BIZTOOLS includes detailed analysis on individual aspects of business operations to assist accountants to advise clients on how to survive in these difficult times.

Posted in Expert Tips: Business Advisory Services on Friday, 16 October 2020