Kirsty McGregor, CFN, and Paul Surtees, Capitalise, discuss government support, changing lending practices and resolving working capital requirements.
- You may find Paul's short article useful background reading on COVID-19
Businesses need to plan for survival. Prepare a cashflow forecast and ensure they know how they will survive this period to thrive again. We are asking accountancy firms to join our campaign and commit to have a dialogue with every single client to:
- Check in. Are they coping okay? what are their main worries?
- Prompt a forecast. Encourage them to prepare a cashflow forecast for the next 12 months & assist with that, if necessary
- Assess further support & funding needs. Do they need further support to raise finance, manage working capital or consider another strategic direction for their business?