Your company’s financial position likely changed as a result of the COVID-19 pandemic. You should evaluate your situation and decide what action to take.

Tips for companies in distressed
or survival situations

If your financial outlook is poor, here are suggested
ways to improve your situation:

HOW CAN BDO HELP

Our team of Financial Advisory Services professionals have helped businesses by providing them with advice related to M&A, valuations, raising capital, and financial restructuring.

Customers/accounts receivable

Reach out to customers to find ways to get paid faster

Suppliers

Ask for favourable terms if you pay early or seek payment deferrals

Insurance

Ask your insurer if existing coverage applies to the current situation or if you can defer paying premiums

GST/tax filings

Make filings and request payment deferrals

Employer obligations

Pay employees on time and apply for wage subsidies