Safe Harbour as a tool to navigate through COVID-19 impacts
24 April 2020
Along with the social impacts of COVID-19, there will be an inevitable financial impact for many organisations as supply chains are cut off, customers alter purchasing decisions and revenues fall while overheads continue to accrue.
Acting early is critical when dealing with potential or actual financial distress. Doing this requires information about the range of options available to management and boards as part of an organisation’s recovery process to avoid failure.
A key tool to be aware of is Safe Harbour protection.
Join BDO Partners Shaun McKinnon and Andrew Fielding as they outline the Safe Harbour process and how it is relevant in response to COVID-19 impacts.
They discuss why Safe Harbour can be an effective tool for organisations to utilise in managing COVID-19 financial impacts and how it can help Directors manage their own personal risks as they implement a formal business recovery plan.
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