With inflation rates at their highest since the 1980s and unprecedented interest rate increases, companies are left wondering what steps they can take to mitigate the impact of the current economic environment. In this episode, host Armand Capisciolto, BDO's National Accounting Standards Partner and leader of accounting advisory services, is joined by Kevin Meyler, national leader of BDO's Business Restructuring and Turnaround Services for a discussion about managing the current economic environment.

What You'll Hear In This Episode:

[1:55] First advisory steps that companies can take to mitigate the current economic environment.

[4:05] The vast and fast pace of change in the current economy is not limited to any one industry.

[5:24] Kevin offers specific ways that companies can mitigate the impacts of inflation.

[8:30] Is it more challenging for companies to secure financing in today's market?

[11:00] Handling the increasing cost of capital in sustainable ways before seeking financing.

[12:58] Advice for proactively managing debt covenants.

[16:30] What might happen when a company breaches its debt covenants?

[19:52] A profile of a successful breach and how a resolution was reached quickly.

[21:05] Kevin shares his opinion of the Canadian entrepreneur in today's turbulent times.

Mentioned:BDO Kevin Meyler

Additional Insights:How businesses can mitigate inflation risks 80/20 Profitability Analytics