Whilst the Government have announced a business finance support package, it is unlikely to be accessible for several days (the loans via the banks) or weeks (the grants via the Local Authorities). Not all businesses will meet the criteria for them anyway. There may be more to come from the Government, but in the meantime business owners need to act now, today. When they are available, contact centres will be short on resources, as banks and local authorities are likely to be at lower staff levels, so the funds may not arrive quickly.
However, there are many things business owners can do to take the pressure off themselves.
Here are 4 short articles (2 min reading time each) with ‘to do’ lists to take businesses step by step through what they can do in respect of their business finance and working capital, without being overwhelmed.
Accountants can help with their own contacts and experience, so speak to your accountant too.
- Getting Organised https://www.beyond2020.online/post/covid-businesses-to-do-list-1
- Contacting your suppliers/lenders https://www.beyond2020.online/post/covid-business-finance-to-do-list-2
- Knowing your numbers going forward https://www.beyond2020.online/post/covid-business-finance-to-do-list-3
- Accessing finance https://www.beyond2020.online/post/covid-business-finance-to-do-list-4