Right now, the issue of ‘cash burn’ is extremely important. Defined as the rate of depletion of a business’s cash pool in a loss-generating scenario, cash burn is a crucial metric to review while your business is closed during the pandemic. Tourism businesses will need to critically assess their cost structure while closed and analyse their burn rate carefully.
There are a number of ways you’ll be able to reduce your operating costs, all of which will depend on your sector. It will be critical to continually analyse every cost, however minor – conserving funds now will be crucial to your long-term sustainability. Download the relevant resources to start making positive steps forward now.