Coronadvice 6 - First Aid for Our Business: What Can We Do Today?

In a situation where many companies are virtually paralysed, it is advisable to stop and think about what small and medium enterprises should do now.

Document the damage
We don't know when, but the current situation will end at some point. Until that time, the damage will continue to add up, so it's advisable for companies to be ready. Companies should try to obtain documents that can help prove the damage that has been suffered. All damages claimed by a company will need to be quantified, and it is smart business sense to be prepared for this eventuality. In addition to the general possibilities, Section 36 of the Crisis Act also allows certain claims for damages. In addition, good documentation can help a company to apply for support. At present, businesses affected by the coronavirus can apply for an interest-free loan from the Czech-Moravian Guarantee and Development Bank. More information about the COVID loan can be found here.

Minimize further damage
Keep track of your current and future commitments. Use the present time of relative calm to try to negotiate with your business partners to terminate contracts, defer repayment, or change terms if you are unsure of your ability to meet your obligations. In any case, act immediately, you may not have time for it later. Settlement agreements and amendments can, in most cases, be negotiated over email.

Look for synergies with other entrepreneurs
Society has been divided into those who have nothing to do at all, and those who are extremely busy. Whichever group you belong to, try to contact people in the other group and join forces with them. If you have employees for whom you do not have work, try to figure out who is currently short on workforce. The current situation is an excellent opportunity for new opportunities that will undoubtedly arise, for both business and non-profit projects. Pursuant to Section 41 of the Labour Code, an employer may, without his consent, transfer the employee to job other than that agreed for the necessary period of time, if it is necessary to avert an emergency, natural disaster, or other threatening accident, or to mitigate its immediate consequences.


'No one has done as much for me as you,' Eva said.

Livingstone, Tour Operator

Thank you again for your valuable advice. I breathe better when I know who to turn to.

Jitka Popelková, Managing Director

Anders Thorsen Advokatanpartsselskab

It has been an absolute pleasure to work with you.

Anders Thorsen, Partner, Advocate

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