Listen to episode 99 of Commercial Integrator’s podcast, AV+: Ari Fuchs, Managing Director at DAK comes through with some business stability advice for the long term.
As investment bankers to the middle market, DAK anticipates that this period of uncertainty will be followed soon by a new, unprecedented time, a period of economic reckoning which will change the direction of many companies and the economic fate of their owners. Here’s what they say integrators should do before the worst of it arrives.
The decisions business owners make today (or don’t make today) are going to impact the economic viability of their business. And when the market does return, it will be a different economic period. Throughout these uncertain times, there will be businesses that thrive because they have taken decisive action early on, and unfortunately there will also be some casualties. In order to make sure you come out on top, there are short-term steps that small to medium sized businesses can take to receive financial liquidity. The most important thing is to talk to your trusted advisors, your accountants, bankers and lawyers. They can help you navigate the lifelines that the government will offer certain businesses. Once you have financial liquidity, identifying what business segments are generating cash flow and which are consuming money. Focusing on the more profitable segments of your business and allocating resources could make all the difference in how your business comes out of this economic period.
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