China Business Survival and Managing the Downturn During Covid-19
Upon popular request of many businesses currently grappling the global effects of the COVID-19 Pandemic, LehmanBrown International Accountant and the China Resource Network will be presenting two webinars which will provide indispensable know-how and knowledge to support the business in their endeavours.
COVID-19 has had a dramatic effect on business, pushing them to reconsider their whole existence and survival in ways that are unprecedented, and pushing management out of their comfort zone. Tense times need good leadership and management, cool heads and quick decisions with continually evolving strategy and planning. It is essentially a business turnaround on steroids. The demands on time and energy are magnified, and everything comes under the microscope.
Who are the leaders in your organization, those that stepped up, took the initiative, gave ideas and where there, and who were ostriches sticking their heads in the sand, or sat there waiting for instructions? During crisis times, you find out who your best people are, and some of these are not always those that you initially thought would be. And you will find management who are not the stars that everyone thought, who had been riding the wave as China grew but have no leadership capability, took no real initiative when analyzed, and should not have been there in that position in the first place.
This webinar aims to look at what businesses in China need to do to try and survive, and to get back on their feet, covering but not limited to:
- Reviewing of the Employment Regulations for Layoffs / Terminations – Looking at the regulations and how they may be implemented during quarantine and work from home periods – pay, work hours, etc.
- Maximize Cash – Can you make loans/repay loans from your China entity/partners? How to accelerate payments, negotiate debts or loans. What government programs are available?
- What if? What if you should have to liquidate the business – how to position yourself now. – Liquidation in China is complicated in the best of times – understand the process and how you can set yourself up now for a smoother transition later. Accelerate intercompany payments, change the GM to someone in home-office, lay off workers, etc.
- Management Team – These changes will be difficult for local staff to implement. Do you need your employees to step up? Who are your leaders versus Ostriches? How can you manage the staff output in the disruption remotely?
Join today to the webinar on May 13th at 9am US Eastern time (1pm UK and Ireland, 2pm Europe and 9pm China time). You can register by clicking here.