So before we get excited about pubs and bars and cafés opening again, and having a conversation about 4 m² and social distancing, maybe we should have a cold shower to bring down the excitement and talk about how a business possibly covers its rent – as legislation allows landlords to charge full rent again and also ask for makeup of the discounts that were given, as well as pay wages where the capacity of the business has been legally reduced.
If you run a business in hospitality and entertainment and you had a tax debt before your business got shut down perhaps now is the time to talk to Your Business Angels about a restructure so that at least you get to start again without the burdens of historical debt.
Because we have been around lots of industries including hospitality, we know that restaurants and cafés and bars were struggling long before Covid-19 arrived. Opening is fine but having a forward plan that can help your business survive also needs to be considered.
Now would be a good time to consider restructure if you are carrying heavy debt with your hospitality or joe fortune entertainment business, simply because later might be more difficult.
If you love your industry and want to keep going, then a real check-up on your finances and capacity with Your Business Angels may be the difference between surviving and thriving as compared to choking over the coming months.
The team at Your Business Angels will recommend the Your Business Angels SafeHarbour program that promotes a cultural change, planned reform in your business thatreinvigorates a company and helps the stakeholders move on a new path ofentrepreneurship. It also settles the business’s debts, creates a compliant and profitable business, and buildsor rebuilds a business to […]
Are you going back to normal? What was normal, anyway? I just Googled “COVID normal”. It’s one of those times where a modern phrase or term hasn’t been defined in a blog, website, or article to appear on a Google search. I thought it would. I couldn’t get an organisation or an individual’s definition of […]
As this blog is about a prediction for the above dates. My predictions come from my personal and business experience, as well as operating Your Business Angels through downturns and calamities other global downturns that we seemed to miss for reasons such as a mining boom and often just luck. It has been a long […]