The Business Crisis Recovery Plan: What actually works when things get tough (EP19)

In this episode of 'The Business BFF,' host Emma Bowdler, founder of The Women's Accountant, discusses the harsh reality businesses face in the current challenging landscape. She shares actionable insights and strategies for businesses in crisis, emphasising the importance of brutal honesty, stopping financial bleeding, engaging with creditors early, eliminating problematic clients, and investing in professional help. Emma also emphasises the importance of maintaining marketing efforts, building financial reserves, and knowing when to close a business strategically. Tune in for practical advice on navigating through tough times and ensuring business continuity.  00:00 Introduction: The Brutal Business Landscape 01:01 Key Differences Between Survivors and Failures 01:42 Welcome to the Business BFF Podcast 02:17 Step 1: Brutal Honesty 04:09 Step 2: Stop the Bleeding 05:40 Step 3: Addressing Tax Obligations 06:29 Step 4: Letting Go of Problem Clients 06:58 Step 5: Seeking Professional Help 08:09 Step 6: Focusing on Revenue Recovery 09:08 Step 7: Building Financial Buffers 10:20 When Business Isn't Viable