Financial contingency
Wedding Planner & Co financial contingency plan is to cut back on expenses and raise more finance for the business.
Cut back on expenses:
ü Find cheaper rents
ü Purchase cheaper materials
ü Cheap labour with required skills
Raise funds from internal and external sources:
ü Internal sources – invest money from own savings or perhaps from friends and families
ü External sources – sponsorship from potential companies, bank loan or overdrafts
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