The Coronavirus Isn’t The End Of The World

But you can be forgiven for having some sleepless nights worrying how it might affect your business.

We believe you should take this opportunity to have a long hard look at all aspects of your business.
For example do you have a disaster recovery plan and have you tested it?

Can some, or all, of your staff work from home? Losing access to your workplace can happen for a
number of reasons, not connected with world events, like a fire or a major police incident. Maybe
this is the time to look at flexible working or taking on more part time staff who can occasionally
work more hours if required.

In a manufacturing, or goods supply business, how resilient is your supply chain and do you have
backup suppliers you can bring on stream at short notice. The same goes for warehousing, deliveries
and warranty work.

A big issue thrown up by the current crisis is finance. If your income stream is interrupted how will
you pay the wages, the rent and the taxes? It would seem prudent to run through a few scenarios
and stress test your business against them.

We don’t want this to be all negative – your staff will have more faith in you, plus a more positive
attitude, if they know you have plans in place rather than your head in the sand!

You will feel a lot more confident once you have taken steps to protect your business and you will be
in a strong position to take advantage of the opportunities afforded by your more short sighted
competitors when the interruption has passed.

We have only mentioned a few of the areas to be looked at but if you want help to take a
comprehensive look at your business then call us. Our first meeting is free and we work with you,
hands-on, to provide solid practical plans and answers.

For help in reviewing your processes and procedures, mentoring your business or advice on buying a business call us on 07967 123201 or email andrew@thetakeoverexpert.com