17.12.2018 We are in the media: On the portal “New time” was published new article by the CEO of the company “Finance Solutions Group” Lyubov Tsymbal about the challenges for business in 2019
Coming a year of trial for many businesses. Doing business in Ukraine is becoming more expensive. Perhaps this is one of the main challenges to both of small and large enterprises in the new year. What to do? Short summary of theses of the article of Lyubov Tsymbal on the portal “New time”.
The first step is to revise business strategies, diagnose and optimize business processes. This will improve business efficiency by reducing costs, changing in the structure of interaction between different departments, reducing the share of manual labor and reducing of duplicate functions, standartization and automatization of routine operations with subsequent outsourcing (released from 25% of the time).
It would not be superfluous to make financial diagnostics in order to understand the existed risks, how to prevent them and strengthen the company’s cash balance.
2019 is the year of full transition of companies to international accounting. Therefore, it is important to be prepared in advance: to assess the tax implications of the transition, to develop accounting policies, to analyze the compliance of IT systems with the requirements for preparing of IFRS financial statements.
In an election year, the power may change, the course of development of the country can change too, and this can hit those who built businesses according to the new rules of the game. Therefore, I recommend to be more flexible and independent. And for this it is important to make your business on a white basis, to be transparent.
It is not superfluous to take care of the economic security of your company. It is important to make an assessment of the company’s internal and external risks from time to time.
And it is important to remember that preliminary preparation for crisis situations, with which external specialists can help you, and mobilization of efforts can protect the business from collapse, and you – from headaches and frustration.
Full version of the article: https://biz.nv.ua/experts/novye-vyzovy-dlja-biznesa-v-2019-hodu-2513771.html