Supporting business resilience, stability and growth
Mark Thornton, Yorkshire & North East Business Restructuring Partner discusses how regional businesses are coping with the extended lockdown restrictions and the challenges this is posing to regional businesses and the wider UK economy.
Over the last 12 months business leaders across the region have dealt with many unforeseen challenges such as essential changes to operational practices to protect customers and employees alike as well as adapting business models and financial structures. Whilst many good management teams will have considered and planned for different scenarios, examples of significant revenue reductions, in some cases to zero, were typically beyond what many business strategists could have reasonably expected before the pandemic.
As the UK looks forward to the easing of restrictions over the coming months there are still potential challenges and pitfalls ahead as we all continue to traverse the difficult path resulting from the pandemic. We are able to offer a broad spectrum of skills to support businesses and funders navigate these challenges and prepare for future growth and success.
In this short video I explore how businesses manage the increased levels of debt and if there are any pitfalls associated with economic recovery and growth that businesses should be aware of.
Watch the video on Youtube
BDO offers a range of services, tailored to specific business needs and circumstances including consideration of business operational, working capital and profit improvement advice, debt and funding advice in addition to wider restructuring, turnaround and stakeholder management advice. We have both sector and situational experts to help deliver the best advice relevant to our clients. We also offer advice to lenders and other investors who are key stakeholders to many businesses.
If you have any financial concerns or are looking to suitably prepare your business for future growth, please do contact me or one of the BDO team.