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Business News of Saturday, 9 May 2020

Source: GNA

Coronavirus: Smart Trust Accounting Consultancy offers free service

As its contribution to augment government’s efforts to alleviate the plight of businesses in the country due to the COVID-19 pandemic, Smart Trust Accounting Consultancy, an Audit and Accounting services firm is offering all its clients and prospective ones in Accra and Takoradi free services.

The accounting firm is offering free services on VAT, PAYE and SSNIT with a further discounted rates on audit and end-of-year financials from May, June and July to support businesses in the fight against the COVID-19 pandemic.

Mr Barry Bruce Antwi, Chief Executive Officer (CEO) of the firm, who made the disclosure in an interview with the Ghana News Agency, said the pandemic had affected every sector of the economy throughout the globe due to slowdown in capital investment and mass layoffs of workers leading to increased unemployment.

According to him, the foundation of every business depended on its finances and when the finances are strong, businesses became better hence, the idea to give the free services to them to salvage them hoping that the pandemic would be stemmed and normalized.

He noted that the government had instituted the COVID-19 Alleviation Programme (CAP) with the objective of protecting households and livelihoods, supporting micro, small and medium-sized businesses, minimizing job losses, and sourcing additional funding for promotion of industries to shore up and expand industrial output for domestic consumption and exports.

Mr Antwi emphasized that the current pandemic was as serious for industry as it was sudden and unexpected, but would be an eye-opener for business owners.

“It will undeniably have a strong impact on business strategies going forward, industry will learn from this challenge and will emerge stronger than before with the necessary tools in hand to confront future challenges which may come its way”, he stated.

He therefore called on business owners to perform an operational risk assessment, consider and plan for the impact of disruption on critical business functions, and develop rapid communications plan and approach to build and maintain trust and reputation during the crisis for staff and stakeholders.

Mr Antwi advised them to assess the potential impact and develop options to identify and move labour with the key skills to support the vision and mission of the organization, while proactively managing where, when and how disruption would impact the availability and effective utilization of skills in the business.

He was of the view that the impact of the COVID-19 pandemic on industry was one that required a collective effort from businesses and individuals to ensure the health and safety of the global community.

He expressed the hope that the offer to industry experts would cushion them on their finances to sustain their businesses and to avert job losses for employees, partners and suppliers.

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