“In the midst of chaos there is also opportunity”
Opportunity need not arise at the expense of anyone else. The opportunity is here now for you to ensure that you protect your business, allowing you to continue when the consequence of COVID-19 passes, which it will. We are all tiring of hearing we are facing unprecedented times and not knowing what lies ahead. It’s time to take control not just to protect the future of your business, but to seize any business opportunities that are available for you now or in the recovery which is projected to follow. Stimulus packages will only go so far to shield your business from the effects of COVID-19, you need to consider what actions you can take.
We are open for business and here to support you to navigate this period of economic uncertainty. There are steps you can take now to reduce the impact. Please contact our Commercial Law team if you wish to discuss any of the concepts below.
What assistance is available to you now and in the coming months?
- Know your rights in the event of a shutdown.
- What can you do now with the employment and external contracts you have in place?
What are your liabilities, where is your exposure?
- Do you fully understand the leave entitlements of your employees?
- Have you considered contractual obligations and the consequences of any breaches by you or the other party?
- How do you shield yourself against a worst case?
How can you minimise the downside?
- How can you navigate a downturn in business and steps taken by your creditors?
- What can you do to limit your risk and exposure internally and externally?
- Can you improve the recovery of your debtors?
Should you restructure?
- Are you being presented with an opportunity to restructure your workforce or corporate structure?
- Asset protection may not be too late.
We look forward to assisting you through this unprecedented time.