Expert ADVICE

ABOVE: Graham Hutchinson (Senior Executive) and Douglas Walton (CEO).

MARWICK’S 5 TOP TIPS FOR FINANCIAL MANAGEMENT DURING A CRISIS

Do you love what you do but struggle to juggle all the financial aspects that come with running a business? We can help you! We offer relevant and educated financial insights and advice regarding your cash flow, budgets and the general financial management of your business.

Most businesses may experience a crisis at some point, but who could have predicted the magnitude of the downfall in our global economy as well as a health pandemic that most risk-management strategies could never have circumvented. These unique times, brought along with its new challenges, has become a sobering reality for most business owners and its employees.

The most common risk reactions are those whereby we instinctively freeze or flee, but this is not the time for you to bury your head in the sand – this is the time for you to seek the advice of a trusted professional who can give critical guidance when you need it most.

Utilising the diverse skill sets of our firm and its team, we can provide the necessary direction and sound financial advice to you and your business, so that you can make the critical, strategic business decisions – while ensuring compliance with law and other statutory requirements. Here are our top five tips:

1. Keep Calm As with any other financial decisions, we need to remain disciplined in our minds by thinking rationally – and not out of an emotional response.

2. Seek Expert Advice Having a trusted, objective view from an independent professional on your business’s financial management can provide the necessary direction and advice to provide comfort over your strategic decisions looking to secure the longevity of your business.

3. Review And Update Utilise this time to take due care in reviewing your financial accounts/ statements, tax obligations and risk management strategies.

4. Ensure Compliancy Keep up to date with the laws and regulations that govern your business and affect how you operate.

5. Delegate Administrative Requirements Seek and utilise assistance on HR/UIF matters, financial guidance, statutory and tax assistance – so that you can focus on your business strategies.

CONTACT ONE OF OUR MANAGERS TODAY FOR GUIDANCE ON YOUR BUSINESS'S FINANCIAL MANAGEMENT Marwick & Company Inc. Chartered Accountants (SA); Marwick House, 30 Old Main Road, Hillcrest; 031 765 6764; info@marwick.co.za; www.marwick.co.za