Owner managed businesses have all been impacted by COVID-19 in some way. Some have put their businesses on ‘pause’ for the time being, with the furloughing of staff, whilst others have diversified and are now experiencing new demands.
The Government has launched numerous support schemes which have been good, but they won’t be able to support everyone, and there is no one-size-fits-all because no business is the same. The uncertainty surrounding the global economy and supply chains are additional factors to consider.
So now is a time to re-evaluate the new business landscape, to evaluate your financials, to be brave whilst managing your risks and come out of this situation with new processes and efficiencies, and, potentially, new business models in some instances.
As your trusted advisers, Old Mill is fully committed to give you the insights, tools and resources to get your business back on track and ready for take-off whenever the threats around Covid-19 begin to subside.