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May 4, 2020

Quick advice, great help. EY advising small businesses for free

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EY is offering small companies of up to 50 employees an express 60-minute consultation free of charge. Experienced consultants are offering advice in five areas: finance, employees, COVID programs, taxes and IT security. The project’s aim is to support the Czech business environment over the next three key months and to offer help to entrepreneurs who – in these extraordinary times – are often grappling with their continued existence.

Over the next three months, each of 9 experts will devote 4 hours a week to helping small businesses. Smaller companies can discuss the most pressing topics in finance, such as how to effectively plan cash flow, how to deal with tax deferrals, how to adjust security for work from home, how to increase the chances of obtaining national or European financial support, or how to manage the international movement of labor and consequences of its restrictions. Topics depend on the specific needs of companies.

“The COVID-19 pandemic will have a huge impact on how companies operate and on the future of the domestic business environment. We want to contribute to the Czech economy with what we do best. One of the ways we’ve decided to do this to devote part of our time to supporting the community of smaller companies, for which the current situation poses a threat and which wouldn't even think to ask our consulting company for help,” says Alice Machová, EY Managing Partner, Financial Accounting Advisory Services.

“We’ve allocated the capacity of our best consultants, who are advising entrepreneurs free of charge on a wide range of topics, such as IT security, taxes, financial accounting or help with applying for support under the COVID programs,” adds Romana Smetánková, EY Managing Partner, Government and Public Sector.

Entrepreneurs can fill out an online form and then EY will contact them with a proposal for an hour-long online meeting. For 60 minutes, they can make use of the knowledge and experience of a selected expert who will address their questions.

In naming the project, EY was inspired by the Small purchase, big help initiative in support of small retailers.

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