A business crisis can arise for many reasons, including:
- ill health or sudden death of a key individual(s);
- major supply chain shock;
- major catastrophe such as fire, flood or storm damage; or
Many businesses do not have a detailed crisis management plan and when a significant event occurs, we typically find that management spends a disproportionate amount of time trying to manage the crisis and as a result other parts of the business quickly suffer and this detrimentally impacts the financial position.
Taking control of a crisis and developing a tailored plan is critical to the future of the business. We can come in, undertake an urgent review in consultation with management, then recommend and implement a course of action. Depending on the specific nature of the crisis, the timeframes for achieving a solution will differ.
Our goal is to take the pressure off you and hand back control once the crisis has passed, as well as leaving you with strategies to mitigate future risk and so you can move forward. See our 10 Step Crisis Management Plan for Businesses in Financial Distress