Hurricane Irma’s On-Going Impact
Cleaning up from a storm is typically an arduous task. Nearly a month after Hurricane Irma took direct aim at Central Florida, recovery is still underway. The effort will bring a number of expected as well as unforeseen challenges for local businesses.
Stage one of the recovery process centered on getting back to business – making sure the employees are safe and getting the operation back up and running. Most companies are now through this, and experiencing obstacles that don’t often get a lot of attention.
CFO Strategic Partners tested the waters and asked clients, colleagues and partners how Hurricane Irma impacted forecasted Q4 earnings. Our survey found most companies predict Q4 earnings will remain relatively unchanged. However, could those business owners be slightly overconfident?
Here’s a list of hurdles to keep tabs on:
- How does the company recover one to two weeks of lost revenue?
- What cash flow management issues is the business facing as vendors may be slow to pay after the storm?
- How does this affect your plans for compensation and end of year business?
- Are there long-term challenges that need addressing immediately to mitigate impact?
The winds of Hurricane Irma have long since past, but the storm will have a lasting effect on many Florida businesses. CFO Strategic Partners, with its team of highly trained CFOs and tremendous experience in multiple industries, can help businesses through natural and man-made disasters.
As the fourth quarter starts, get CFO’s “Power of Many’’ to give you a boost for the coming year.