With the new normal looking very different for companies across the Globe, every business will be impacted due to the covid-19 pandemic. Whether a small start-up or a global company, measures will need to be put in place to weather the storm.
But what about your business plans? Do they need to be put on hold?
For some organizations, near-term survival is the only agenda item. Others are peering through the fog of uncertainty, thinking about how to position themselves once the crisis has passed and things return to normal. The question is, ‘What will normal look like?’ While no one can say how long the crisis will last, what we find on the other side will not look like the normal of recent years.” Beyond coronavirus: The path to the next normal by Kevin Sneader and Shubham Singhal.
McKinsey discuss the transition and stages of businesses in this pandemic across five horizons:
- Resolve – address the immediate challenges that covid-19 represents to institution’s workforce, customers, technology, and business partners
- Resilience – address near-term cash management challenges and broader resiliency issues during virus-related shutdowns and economic know-on effects
- Return – create a detailed plan to return business to scale quickly post covid-19 when the knock on effects become clearer
- Reimagination – Reimagine the next normal: what a discontinuous shift looks like and implications for how institutions should reinvent
- Reform – Be clear about how regulatory and competitive environments in industry may shift
Whilst during the lockdown stage we cannot correctly predict the knock on effects for your business, GRENKE can highlight near term cash management challenges and support your return to business plans!
Near term survival with invoice financing
In our Business Survival Kit GRENKE outlines how important cash flow is for financial health during covid-19. One way to achieve this is via invoice financing.
For those short term cash flow needs, Cash Flow Optimizer may be a better short term solution than government backed loans.
GRENKE can finance a single invoice within 24 hours up to £50k. Plan for a short term solution for the short term.
Calculate your payment amount today to support any cash management challenges.
Plan for your return with asset leasing
Are you a company that is current closed, but when you reopen demand will be set to sore? No matter what industry you are in, you may need support in buying new equipment to cope with this new found demand when you return to business.
You can put a long term plan in place for this with asset leasing. When demand picks up post pandemic, resellers should offer leasing solutions. This encourages greater flexibility when businesses need to stay competitive the most.
At GRENKE we are here to support you in the short and long term, to offer a helping hand through COVID-19.