How business owners can cut costs and prepare their companies for an uncertain future

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• Jared Hecht is the CEO and cofounder of Fundera, a company that matches small business owners with financial partners and loan providers.
• The pandemic showed many business leaders that they need to improve the stability of their companies and be prepared for an uncertain future, Hecht says.
• To do this, Hecht stresses the importance of cutting costs and saving money, and analyzing the 'cash forecast' for your business in both the best and worst case scenarios, in order to adapt to any situation.
• Visit Business Insider's homepage for more stories.

Small business owners are living through the greatest economic challenge they may ever face. The COVID-19 pandemic won't play out like an ordinary recession — there are no models that can account for the near-infinite variables affecting the United States' ability to contain the pandemic and get the economy back to normal. 

While some industries are thriving during the pandemic, many other businesses are shutting down and it's unclear what, if any, help is on the way from the federal government. As such, it's imperative that you budget for uncertainty.

See the rest of the story at Business Insider

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