14 Smart Strategies To Safeguard Your Business From Unexpected Financial Setbacks
It’s always safest for business owners to expect the unexpected, especially in the era of Covid-19, economic uncertainty and political unrest. While no one can predict everything the global marketplace may throw at them, surviving and thriving in times of volatility becomes easier when you have a plan in place to strengthen your position in the face of difficulty or even pivot if needed.
Protecting your business from the effects of a sudden financial setback—such as employee turnover, a spike in insurance premiums or a rise in materials costs—may include strategies such as building up your capital access or diversifying your revenue streams. Here, 14 Forbes Finance Council members share their advice to help leaders safeguard their businesses in times of unexpected financial loss. Read more on Forbes.com.
