Weekly Digest – 3 June 2020

Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update.

Surviving Cash Flow Problems

Are you struggling with cash flow right now? You are not alone. The COVID-19 crisis has had a huge impact on businesses across the country, but we’ve got some tried-and-tested ways to relieve cash flow pressure. Don’t stick your head in the sand – we can help.

Here are some options that might be suitable for your business:

  • Borrow money – The Government is giving small- and medium-sized businesses access to financial support through various initiatives such as the Bounce Back Loan Scheme (BBLS), where you can get up to £50,000 no-interest loans for the first 12 months, and the Coronavirus Business Interruption Loan Scheme, which offers a maximum loan of £5 million. Let us help you evaluate your options and identify the ideal loan scheme based on your needs and eligibility.
  • Restructure expenses and commitments – In these difficult times, you can undertake various measures to restructure your expenses to make your financial obligations more bearable. While there are various programs aimed at providing temporary relief to debtors affected by COVID-19, we understand that you don’t have the luxury of time to study all your options. Get in touch, so we can help you work out your existing debt with your banks and creditors to improve your cash flow.
  • Sell more – Now is the time to re-evaluate your sales strategy, tweak your marketing approach, and possibly target new markets– we know it is challenging to increase your sales right now, but we’re sure you’re doing your best. If you want to gain access to fresh insights and adapt to the current business landscape, drop us a message.

What’s next?

Over the last few weeks we’ve brought you updates on various government initiatives and cash flow schemes aimed at helping employers keep their businesses afloat amid the COVID-19 situation. We’ll keep you updated on new financial support available and if anything changes on existing ones, but please feel free to get in touch to discuss what these schemes mean for your business.

Get in touch

Contact us if you have any questions or want to discuss your next steps for your business.

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