Phil Hobden, Capitalise and Kirsty McGregor, CFN, discuss the importance of businesses having a written plan, how to prepare them quickly and effectively and which software to use. Plus tips from Kirsty regarding the regulatory issues which accountants need to remember.
Additional resources
- Suggested software and apps
- Information needed from the client for preparing projections
- Comfort letter for projections
- Tips for when preparing projections
Taking action
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?
