On the way to the 'New Normal' as a SME
The impact of COVID-19 on small- and medium-sized firms - mainly family-owned companies – will be hard. SME’s - by their size - are not sufficiently equipped to handle events like such an unforeseen major crisis.
To help your navigate this difficult period, BDO wants to assist SME’s by conducting a free 360 degrees diagnosis to identify risks and possible actions they should take in order to reduce in as much as possible the short- and medium-term impact of the crisis.
Based on the results of the free diagnosis, our experts will propose an approach that matches your priorities in the following domains:
Activation of COVID-19 federal and regional measures
We support you in your journey through the various measures on a federal and regional level. Our Corona Task Force guides you through all the necessary steps to activate these measures.
Crisis Interim Management
Does your organisation temporarily lack specific expertise during this crisis? Our Interim Management department has an extensive network of Interim Managers who can temporarily serve your business and have proven expertise in crisis, financial, operational and general management.
Treasury stress testing and management
We help you to set up a dashboard for a clear overview of the evolution of your cash flow. In addition, we determine which changes in your business may positively impact your liquidity position.
Recently, telework has become almost universal. We offer a free teleworking survey to better understand the impact of this new way of working on your employees. Request a personalised link to receive a free report, specifically tailored to your organisation, as well as general market data.
Remote collaboration kit
The current way of collaborating remotely poses a certain challenge. This starter kit helps you to tackle this challenge with integrated advice regarding IT, process adjustments, employment contracts as well as training on teleworking and coaching concerning the behaviours to adopt within the context of remote collaboration.
Cost reduction programs
This unprecedented crisis may force you to review your fixed and variable costs, and in some cases, fixed costs can be converted into variable ones. For decades, our core business has been to carry out financial analyses to help you make the right choices. Additionally, we support you in the rapid implementation of the selected measures.
Business model stress testing
This crisis forces you to anticipate different possible scenarios and reveals a number of things your organisation can learn from. Our experts in business modeling and organisation give you their independent view on your organisation in order to prepare for these different scenarios.
Digital channel development
The coronavirus has highlighted the real impact of digitalisation in an accelerated and difficult way. Let our BDO Digital experts advise you in the development and strengthening of your digital channels to make sure your organisation stays on track.
Business model adaptation to the ‘New Normal’
With all events of 2020, many experts and economists speak of a ‘paradigm shift’. Will this crisis also change your company's strategy? Our experts have years of experience in the field of small- and medium-sized family businesses’ strategy and will advise you on updating and developing a business model adapted to the ‘New Normal’.
Bank case building and negotiation
You may need to adjust the financing structure of your business. We can assist you in identifying the various financing means and assess your current and future organisation. We are your partner to ensure successful discussions with your banker.
Interested in this free diagnostic?
Please do not hesitate to contact one of our SME Task Force colleagues on the right or your regular contact person at BDO.