IFAC Launches Small Business Continuity Checklist

May 19, 2020

On May 11, the International Federation of Accountants (IFAC) published a ‘Small Business Continuity Checklist – How to Survive and Thrive Post Covid-19’.

Small businesses have been disproportionately affected by the COVID-19 pandemic. COVID-19 containment measures severely impacted cashflows, disrupted supply chains and put small business survival at risk on an unprecedented scale. Governments worldwide moved quickly to deploy supportive measures for small businesses and entrepreneurs to help them maintain short-term liquidity. However, many are still struggling. A small business' ability to survive the current environment, and thrive in the future, will be greatly strengthened by support from their professional accountant.  

The Checklist is included on IFAC’s dedicated COVID-19 web page with many other useful resources. It covers key financial management and strategic management tasks, helping businesses to proactively identify and consider essential and timely information.