Small and medium enterprises’ high reliance on foot traffic and weekly revenues make them more financially fragile than their larger counterparts. As a result, SMEs struggled with business closures, lower sales, and workforce reductions.
More than a year after, uncertainties persist. Full vaccine rollout remains indefinite, stronger COVID-19 variants emerge, and the reinforcement of lockdowns is sending people back into their homes.
Through all this, it’s crucial for SMEs to secure a strong and adaptive financial footing. But how can this be possible when opportunities to earn are limited?
Taking advantage of government support can provide temporary relief to cash flow issues. However, businesses need to take a more dynamic approach to guarantee their survival and growth.
Good accounting helps them do this.
In this whitepaper, we explore the role of accounting in helping impacted businesses face the pandemic-driven challenges head-on.
We also discuss:
The Economic Impacts of COVID-19 on Small Businesses
Surviving and Adapting to the New Business Landscape
Why Finance and Accounting Matters in Bouncing Back from COVID-19
D&V Philippines’ Accounting Solutions
Discover how you can bounce back from COVID-19 through accounting and business planning. Get your free copy today by filling out the form on the right side of your screen.