Preparing SMEs for a rapid recovery from the COVID-19 crisis
Montréal, April 22, 2020 – The COVID-19 pandemic has sent shockwaves through the business community and forced many small- and mid-size businesses to either scale back their operations or stop them altogether. As a firm that’s committed to helping businesses survive and thrive, Raymond Chabot Grant Thornton has just launched Solutions for SMEs, a new program for developing effective business continuity and recovery strategies in uncertain times.
Emilio B. Imbriglio, President and CEO stated: “Ensuring that Quebec businesses succeed is key to getting the economy back on its feet. They’re the backbone of our economy and they need to be ready for a strong comeback—and that means preparing for a new reality starting now. Agility, innovation and a proactive approach are more important than ever before. And that’s precisely where Raymond Chabot Grant Thornton can be of assistance.”
Eight priority actions for effective recovery planning
Risk management partner Vincent Cartier said: “All businesses are facing a new reality that requires them to be more flexible and adaptable. There will be bumps in the road to recovery and leaders will have to be vigilant, organized and agile to respond quickly and effectively.”
To this, management consulting partner Pierre Fortin added: “In just a matter of weeks, our world has changed. Yesterday’s imperatives no longer apply, and consumer behaviours have shifted. That’s why Raymond Chabot Grant Thornton has developed a program with eight priority actions to help businesses redefine their business continuity and recovery strategies.
Solutions for SMEs uses a personalized approach to address each company’s unique needs through the following eight priority actions:
1. Managing cash flows
2. Supporting managers and employees
3. Stabilizing and boosting revenues
4. Managing procurement
5. Monitoring business performance
6. Managing risks
7. Prioritizing digital transformation and cybersecurity
8. Reassuring stakeholders
Management consulting partner Nancy Jalbert stated: “Organizations will need to revisit their procedures, including operations and procurement, and many will also need to review their digital transformation plans regularly as the situation evolves. Agility is essential. It has become a defining feature of any company that wants to be strong, efficient and competitive.”
Raymond Chabot Grant Thornton will provide an overview of the Solutions for SMEs program during a webinar to be held on April 23 at 10:30 a.m. To register, click here.
Eligible businesses interested in taking advantage of Solutions for SMEs can obtain funding for it through the Gouvernement du Quebec’s Concerted Actions Program for Maintenance in Employment (PACME).
About Raymond Chabot Grant Thornton
Raymond Chabot Grant Thornton is a professional services firm dedicated to the success of organizations and their leaders since 1948. The firm’s advisors are committed to helping clients thrive by obtaining a deep understanding of what is important to them, their business and their industry. This knowledge, combined with a team of motivated and talented professionals help accelerate growth. A Quebec and Canadian leader in the areas of assurance, tax, advisory services and business recovery and reorganization, Raymond Chabot Grant Thornton boasts more than 2,800 professionals, including approximately 200 partners, working in over 100 offices across the province of Quebec and in the Ottawa and Edmundston regions.
Together with Grant Thornton LLP, another Canadian firm, and the Grant Thornton global organization, our global footprint spans across more than 140 countries with over 56,000 people who provide real insight, a fresh perspective and agility to keep clients moving ahead.
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