The impact of COVID-19 is already being felt across the region and businesses need to have a plan in place to persist through the impacts and enable recovery from this ordeal.
Cash flow is king and you need to have a contingency plan maximise cash over the coming weeks and months. What does this look like for your business?
- What are the risks for my business?
- Do I have a plan?
- What does my budget/cash flow look like now and for the coming months?
- What can I do immediately to maximise my incomings and minimise my outgoings?
- What else am I prepared to do and/or sacrifice at certain points if the outlook worsens?
- Will the government’s employer support package help me?
- Can I defer upcoming tax payments or making payment arrangements with Inland Revenue?
- Should I change loan payments to interest-only?
- Do I need to borrow more?
Talk to your advisor now to ensure you have the right plans in place.
Specialising in commercial accounting, trusts and IT, Craig strives to help clients improve their systems by keeping up to date with all the latest in business technology, process, systems and software.