BUSINESS ADVISORY
COVID-19 BUSINESS PLAN REVIEW
Consider the Scenario: Modest Some disruption but little overall impact
Suppliers Communication What messages are you communicating about your plans and needs for goods/services? Connection How robust is the supply chain and what can you do to support the suppliers at this time? Opportunities Where can you negotiate cost reductions or payment deferral? Financial Cash Reserves What level of reserves do you have and what level is needed in each scenario? Cash Flow What level of outgoing income can you expect in each scenario? Costs � Which costs are discretionary and avoidable?
Moderate 10-15% loss of incom e
Severe 33-50% loss of income
Then consider the investment in these areas in order to move forward.
Customer Communication What messages are you communicating about your services?
Connection How will you remain connected with your customers?
Opportunities What new issues are your customers facing that you can help with?
Risks Which are the key income streams/customers you need to protect?
� Which costs are negotiable?
� What costs are critical and unavoidable?
� What are your top 5 costs by value and how can they be reduced?
People Communication What messages are you communicating about your business and contingency plans?
� Which of the HMG support schemes can you access?
Connection How will you remain connected with your staff?
MUST DO ACTIONS – NOW
Opportunities What key projects can you assign staff outside of their usual work?
SHOULD DO ACTIONS – 7-10 days
Risks Who are the critical people whom you need to protect?
COULD DO ACTIONS – 10 days
Processes Risks What are the critical processes in your business that need to continue? Opportunities How can you embrace technology to improve efficiency in existing processes?
Our supplemental COVID-19 Business Support Checklist pulls together the key support options with links to further advice and other necessary actions into a single, functional document and can be found on our website: https://www.randall-payne.co.uk/news/covid-19- business-support-checklist/
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