8 simple ways to offer clients business support during the COVID-19 crisis
With coronavirus causing significant interruptions to industry around the world, your small-to-medium business clients need support now more than ever. Here are your top priorities to make sure your help gets where it’s needed.
While some larger companies may have a business continuity plan they can set in motion, chances are your smaller clients have been too busy trying to make a living to have prepared to that level of detail.
The reality is, few businesses have considered the potential impact of a massive pandemic such as the current coronavirus crisis and that creates a breeding ground for panic and poor decision making.
Accountants, bookkeepers and other business advisors are well placed to consider the impact this event will have on your clients’ businesses, and now’s the time to get proactive in communicating your expertise.
Here are eight practical ways that accountants can support clients through the coronavirus crisis and retain as many of them as possible for the future:
1. Communicate early, communicate often
2. Consider clients’ cash flow
3. Confirm tax bills earlier while things are quiet
4. Bone up on government subsidies and tax breaks
5. Look at supply chain and logistics advisory
6. Encourage timely payments
7. Review business costs
8. Keep your eyes on the horizon
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