News & Press: NDs in the News

18 Practical Ways To Future-Proof Your Business Against Financial Hardship

Thursday, September 17, 2020  

The pandemic and subsequent economic decline caught many businesses by surprise. Some were completely unprepared to financially support themselves through mandatory shutdowns and decreased sales, while others burned through their savings to keep things afloat.

Even with help from initiatives like the Payroll Protection Program, many business leaders are still grappling with the loss of revenue they experienced at the height of the pandemic. For those who are beginning to recover, the current circumstances have provided an important incentive to plan ahead for financial difficulties, especially when it’s due to factors outside their control.

Nic Faitos, Senior Partner at Starbright Floral Design, serves as Chair of Forbes Business Council. He reached out to his fellow executives to share how they navigated more than one financial crisis and recession, and learned practical and effective tips to shore up their cash reserves and retain access to the capital needed during difficult times. Here’s how they recommend “future-proofing” a business against financial hardship. Read more...