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THOUGHT FOR THE Month
July 2021
Lacking sound cash management policies and appropriate financial oversight can bring doom tomorrow for even the most seemingly successful firms of today.
Nearly two million now-defunct businesses learned this difficult lesson in the wake of the Global Financial Crisis of 2008. twelve years later, total corporate bankruptcies in 2020 surpassed the number of filings in every year since 2010*, many the result of the COVID-19 pandemic
*this according to "S&P Global Market Intelligence" authors Tayyeba Irum and Chris Hudgins
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Yet, these two unprecedented global disasters have proven that:
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1. Highly educated and experienced Business leaders and politicians are slow to learn from past events, and
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2. They are very poor at embracing the concept that retaining adequate cash for economic downturns is critical to survival
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so, this tragic mantra will continue to play...
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Global financial Crises + Poor Cash management = Financial ruin
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or is there a way out of this recurring outcome?
At Mark of Excellence we provide customized, information-packed, easy-to-understand, 9-point financial analysis “one-pagers”, along with expert consultation, to aid managers in understanding their firm’s financial health, improve their cash position and minimize risks.
Remember: cash is king!
author: Mark Clark, Owner & CEO
Mark of Excellence Financial Analysis & Consulting