Helping businesses through the pandemic
The anniversary of the first lockdown is quickly approaching and we are still getting used to remote working and the other restrictions impacting our lives. Arguably it was more bearable during the summer months, but with the colder weather and dark nights we are weary as the pandemic’s grip remains and its wider impact.
Practical support for SME businesses
Businesses are still fighting for survival, but there are a few things that should top your business strategy to do list:
Update your cash flow forecast
Make sure you understand exactly :-
- How much money you need over the coming months and financial year.
- Where in the business you need it.
- When you need it.
- Where you will get it from.
By planning ahead, you can avoid, or at least prepare for, any significant issues in the future.
Key questions include:
Does the lockdown affect your sales, and importantly, what if your customers can’t pay?
Are you reliant on your suppliers and can they deliver?
All very topical questions and having financial information about your business can help you to plan.
See our post on why you need a cash flow forecast
Please do get in touch if you need our support or advice with your cash flow.
Look after your people
Once you understand your financial position you will know whether you need to reduce, increase or maintain your headcount and you can plan accordingly.
- Open communications with staff over these coming weeks and months are vital.
- Keep them informed.
- If you need to make staff redundant or put some on furlough, make sure you follow the correct processes.
- Are your staff coping with remote working?
Get in touch if you need guidance or advice.
Here are a few websites you may find useful:
Are you Brexit ready?
The transition period is over; we have now left the EU. If you have not done so already, ensure you get to grips with:
- New export and import requirements.
- The new VAT and customs paperwork.
- Changes to data protection, contracts and visa and travel requirements.
- Check your terms and conditions are relevant.
See our key points free download for more information and support.
Our team are working from home and are fully contactable. You can rely on us to continue to support you with our usual diligence and expertise.
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