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How Cannabis Firms Can Mitigate the COVID-19 Crisis

30/03/2020


The COVID-19 pandemic has caused tremendous difficulties for the cannabis industry. In the wake of these unprecedented conditions, cannabis companies are challenged with some key questions:

  • What is my cash flow situation right now — and what is it projected to be by the summer?
  • What can I do right now to reduce costs without hurting revenues and capabilities?
  • How can I build an operational resilience and plan for further business disruption?

Take a Strategic Approach

More than ever, it’s critical to be decisive and proactive to ensure you weather the storm. If your cannabis enterprise has been impacted by COVID-19, MNP’s cannabis leaders can help you navigate these uncertain times with strategies such as:

  1. Restructuring to reduce operational and capital expenses
  2. Financial modelling to improve visibility and forecasting
  3. Contingency planning to build operational resilience while ensuring compliance
  4. ‘On-demand’ outsourcing, including project management, marketing and accounting services

For more information or to find out how you can position your cannabis organization for success through the pandemic, contact Mitchell Osak, MBA, National Leader, Cannabis Advisory Services at 416.263.6985 or [email protected]