Home Finance Getting back on track: prepare, plan and take action

Getting back on track: prepare, plan and take action

by The Business Influencer

By Johnathan Dudley, Midlands Managing Partner and Head of Manufacturing at national audit, tax, advisory and risk firm Crowe

Managing your way out of a crisis means adapting quickly to new challenges and opportunities.

Returning to work is not simply a matter of switching the lights back on. COVID-19 has caused many businesses to fundamentally change their working practices, restrict some activities and, in some cases, temporarily close down.

Some of these changes will need to be absorbed permanently and your business model rewritten if you are to move forward successfully.

"There are three key stages you can follow to help chart your course..."

1.Stabilisation – this encompasses all the actions you need to address effectively the short term needs of your business during lockdown and beyond. Furloughing, cost management and funding for short to medium term business interruption.
2.Health check – what will the ‘new normal’...

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