"Now, more than ever, it is critical for business owners to be financially prepared. Business owners who invest the time to create a financial plan will be better positioned to face challenges and seize new opportunities."
"72% of respondents said insufficient revenue for two quarters or less would cause them concern about their business's future. And 43% said longer dips would be catastrophic."
A recent TD Bank survey reveals that while 94% of small business owners feel ready for future challenges, a significant number are financially unprepared for revenue shortfalls. While 72% expressed concern over two quarters of insufficient revenue impacting their business's future, 43% stated that three to four quarters of low revenue would be catastrophic. Most business owners recognize the need for regular assessment of preparedness. Andy Bregenzer emphasizes the importance of having a financial plan to tackle potential challenges and opportunities, reflecting a crucial insight into the need for stability in uncertain times.
Read at Fast Company
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