For nearly everyone, 2020 has already proven deeply unpredictable. While many business owners may have thought that stability had come at last after years of Brexit-wrangling, those planning a sale barely had time to start the process before Coronavirus brought even greater uncertainty.
If you were planning to sell, but now find yourself in a battle for survival, what should you do? Here, we’ll take you through how you can navigate the current crisis and the subsequent recession and emerge from coronavirus stronger, with a better valuation and in an even stronger position to sell.
Gaining an advantageCurrently, large numbers of business owners are in a very difficult situation. As we previously outlined, many operators across the services, leisure and hospitality sectors have been forced into an extended period of closure and have either had to furlough staff through the Coronavirus Job Retention Scheme or let them go. But it doesn’t end there, as businesses across all industries have been impacted to some extent.
Keys to survivalSo, with survival the crucial thing at the moment, how can you achieve this in the current climate? For a more in-depth exploration of this topic, read our insight on restructuring your business, but here are a few quick pointers that you get to work on immediately.
Focusing on your saleWith emerging from the COVID-19 crisis as a viable business ready to sell to the highest bidder as your ultimate goal, here are some of the areas to focus on now, to ensure you’re in the best position possible.
A highly reputable business operating for over four years and on an international basis. Provides comprehensive drop shipping services and helps clients across the world succeed in the e-commerce sector.
Offers a wide range of fashionable, chic and affordable clothing items for customers throughout the UK and internationally. Retails its products in sizes 8 to 32, maintaining its price point across the range.
Works with a multitude of prestigious clients nationwide and retains a highly skilled, experienced workforce. Strong second-tier management team with the necessary skills and expertise required to manage day-to-day business operations.
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