Does your business pass the stress test?

Business owners sometimes wonder about the best time to take stock of business resilience.

The answer is every time is the best time.

We look here at how to do it.

Why it matters

It’s an old saying that every business will face its share of challenges, and from the pandemic onwards, the economy has provided enough challenges to test any business. Current statistics show that the ten-year survival rate for start up businesses is only 10%, demonstrating the fact that not every business makes it long term. So how do you make sure your business is among the 10%? Knowledge is key. Every year companies fail which could have survived by taking business recovery advice at the first sign of difficulty. Knowing what to look out for, being alert to signs of stress, and knowing what to do about them, will help put you in the driving seat.

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