Planning for the future and preparing the business for the unexpected is an integral consideration to any business plan. It is about being prepared for all types of disruption that could impact heavily on a dental practice. Disruptive events for instance, extreme weather, a disaster such as fire at the practice, loss of a supplier or, something more personal such as a tragedy, illness, or death. In all these cases the business if it's to survive must get back on its feet quickly. This type of planning greatly improves the likelihood that your business will survive any disruption.
As the owner of a dental practice, future proofing the business by entering a partnership with another dentist is worthy of consideration and more so if you hold a GDS contract. The NHS contract can often contribute a large proportion of the value of the practice. Should you become ill or need to spend time away and are unable to run the practice or perform dentistry for a period, having a business partner would mean that there is someone else with a vested interest in ensuring that the practice continues to run smoothly and can manage it in your absence. For a dental practice that holds an NHS contract this is important because if the contract obligations are not met during your illness or absence, the practice could potentially lose the contract.
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