Harvard Business Review: Reassess Budgeting

Harvard Business Review: Reassess Budgeting

Ensure that any continued expenditures are a necessity during the COVID-19 emergency. Take this time to re-evaluate, not to make rash decisions:

– Look for areas that can operate with lower costs 

– Put money into ordering/creating products that are must-haves for clients

– Limit R&D or new initiative planning

– Avoid dipping into personal expenses for business costs

– Restructure company debts with lenders to temporarily allow for smaller payments

Harvard Business Review: Reassess Budgeting.