Our business might be communications: but we’ve the same core needs as all our clients. One of them is of course Financial Management, and Su’s shared her top five tips on that for the strange times we find ourselves in. Short, clear – and very important.
1. Understand your current financial position – cash in bank, debtors, creditors and overheads. Cash flow is crucial.
2. Check your eligibility for government assistance for furloughed workers, loans, deferred payments and grants
3. Invoice regularly to maintain cash flow
4. Claim back SSP for employees unable to work due to Covid 19
5. Make arrangements with your bankers for authorised borrowing
6 Communication is essential. Keep communicating with employees, clients and suppliers.