It's a once in a lifetime event, and many reporters have used the term "unprecedented" on numerous occasions. In this webinar, we aim to help those smaller law firms to navigate post-lockdown, and show practical steps on how to "create" certainty with your cashflow forecasting; as well as better utilising your bank to assist through these challenging times.
The market has changed post-lockdown, and now is the time to revisit your business plan and financial forecasts and make some revised assumptions to take into consideration the impact the pandemic as had on our economy.
It's probably best to start with understanding the impact the government's actions have made on not just Kiwi Businesses, but also on your law firm. Are you entitled to some government assistance? Also, you will need to assess the impact lockdown has had on your customers. Are they in tourism and hospitality? Are they in essential services? This will be important to understand as you need to make assumptions as to their propensity to pay. Making "educated" assumptions is the first step to building your plan and allows you to focus on the elements that are within your control.