April 21 Finance Chat: When Things Go Really, Really Wrong
We’ll succeed if we band together through the COVID crisis and recession. Don’t struggle alone. We’re bringing the community together through free webinars / Q&A sessions with our team and other experts. Here are the details for how to join: Quaranteam HR and Finance Chats. Here are the updates from the latest webinar on what to do when things go wrong.
2020-April-21 Finance Quaranteam Chat: When Things Go Wrong
Download the slides HERE
Highlights
Keeping the Bank Happy
- Communicate early and often.
- Continue to provide financial reporting on a timely basis and operate within prescribed terms and conditions.
- Be pro-active – provide revised sales and cash projections and any information that may show “light at the end of the tunnel.”
- Don’t provide any surprises…(i.e. writing big cheques out of company, assigning company into bankruptcy etc.)
- Cooperate and remain rational.
Risks (Covered In-Depth During Video)
- Market Risks
- Financial Risks
- Employee Risks
- Legal Risks
