How can family businesses withstand the challenges posed by a Black Swan event like Covid? We segregate the challenges facing family businesses into the business, family and ownership parts, and address them individually.
BUSINESS CHALLENGES DURING COVID
While all businesses have been badly hit by the pandemic, family businesses are particularly vulnerable, due to inherent structural weaknesses arising from poor cash flow management, poor accounting and financial practices as also lack of professional management to manage the risks. These weaknesses get exacerbated during a crisis.
MANAGING CASH-FLOWS:
Diese Geschichte stammt aus der September 2020-Ausgabe von Entrepreneur magazine.
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Diese Geschichte stammt aus der September 2020-Ausgabe von Entrepreneur magazine.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
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