In this episode of 'The Business BFF,' host Emma Bowdler, founder of The Women's Accountant, discusses the harsh reality businesses face in the current challenging landscape. She shares actionable insights and strategies for businesses in crisis, emphasising the importance of brutal honesty, stopping financial bleeding, engaging with creditors early, eliminating problematic clients, and investing in professional help. Emma also emphasises the importance of maintaining marketing efforts, building financial reserves, and knowing when to close a business strategically. Tune in for practical advice on navigating through tough times and ensuring business continuity. 

00:00 Introduction: The Brutal Business Landscape 

01:01 Key Differences Between Survivors and Failures 

01:42 Welcome to the Business BFF Podcast 

02:17 Step 1: Brutal Honesty 

04:09 Step 2: Stop the Bleeding 

05:40 Step 3: Addressing Tax Obligations 

06:29 Step 4: Letting Go of Problem Clients 

06:58 Step 5: Seeking Professional Help 

08:09 Step 6: Focusing on Revenue Recovery 

09:08 Step 7: Building Financial Buffers 

10:20 When Business Isn't Viable