{"id":4481,"date":"2021-07-06T04:00:00","date_gmt":"2021-07-06T04:00:00","guid":{"rendered":"http:\/\/im-22105"},"modified":"2023-01-11T11:12:04","modified_gmt":"2023-01-11T11:12:04","slug":"resilience","status":"publish","type":"post","link":"https:\/\/www.oneaccounting.co.uk\/resilience\/","title":{"rendered":"Resilience"},"content":{"rendered":"

One of the lessons we should take away from the COVID experience – in a business context – is the ability to recover quickly from unexpected challenges.<\/p>\n

Firms in the hospitality and entertainment sectors are excused as they have had no power to act in their own best interest due to government lockdown directives.<\/p>\n

The rest of us, to varying degrees, have either managed to weather COVID disruption or been forced out of business.<\/p>\n

Financially, if your business had significant cash reserves or other assets that could be converted to cash, then it would be in a much better place to survive COVID disruption than firms who had stripped out cash reserves to support the lifestyle costs of the owners or that were already in a parlous financial state due to difficult trading challenges prior to the COVID outbreak.<\/p>\n

There will always be a trade-off between retaining profits as a rainy-day fund, investing funds in business development or withdrawing funds to support personal goals.<\/p>\n

COVID has woken us up to the value of resilience, one more factor that we will be wise to consider when planning our businesses development from now on. 
\n <\/p>\n

Source: Other Tue, 06 Jul 2021 00:00:00 +0100<\/div>\n","protected":false},"excerpt":{"rendered":"

One of the lessons we should take away from the<\/p>\n","protected":false},"author":1,"featured_media":4482,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133,1],"tags":[],"acf":[],"yoast_head":"\nThe Value of Resilience in a Business Context<\/title>\n<meta name=\"description\" content=\"One of the lessons we should take away from the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.oneaccounting.co.uk\/resilience\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Value of Resilience in a Business Context\" \/>\n<meta property=\"og:description\" content=\"One of the lessons we should take away from the\" \/>\n<meta property=\"og:url\" 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