Managing cash flow is a vital part of running a successful business. Some business owners think managing cash flow simply means keeping track of how much money enters and leaves their business, but there’s actually more that goes into it. Cash flow forecasting, for example, is an incredibly valuable tool that helps you anticipate cash flow issues, plan for days when your cash flow is limited, and show the bank… Read more
As many business owners look to life after COVID-19, an important question comes up: how do we plan to reopen our business? For most businesses, the easing of restrictions doesn’t mean a return to business as usual. There are rules and regulations in place about how companies can operate, including how many people can be on their premises at one time and how employees must be protected. Customers may not… Read more
Welcome back to our Weekly Digest. We hope you and your family are doing well. Read on for this week’s update. Cashflow If you’re not having cashflow problems right now, that’s great, you’re one of the lucky ones. Plenty of businesses across the country are struggling with cashflow right now. There are a few ways to relieve the cashflow pressure from finance through to restructuring options. Don’t stick your head… Read more
The COVID-19 pandemic has proven challenging for many small business owners. It’s difficult to run your business remotely, especially if you’re not set up to do so. If you run a business that requires customers or clients to come to you, you might be very concerned about how you can continue to operate without opening your premises. If you have access to technology, are adaptable, and are willing to look… Read more
Welcome back to our weekly update. We hope you and your family are doing well. Read on for this week’s news. Self Employed Income Support Scheme The Self-Employed Income Support Scheme is now open for claims, with more than 110,000 people applying on the first day. For those who have checked their eligibility, you will have been notified when to apply. The claim money should start to flow from 25… Read more
As many business owners are experiencing, the COVID-19 pandemic has created serious financial difficulties for entrepreneurs. Small businesses especially are faced with cutting their budgets so they can continue to operate—even at a smaller scale—and not have to close for good. They also have to figure out how they can market themselves so once the pandemic is over, their customers and clients come back to them. During a financial crisis,… Read more
Your “war chest” is the financial reserve your business has built up so you can take advantage of an opportunity or cover unexpected costs or emergencies. Building a cash reserve when finances are tight, however, can be difficult. You need money to continue running your business but, if at all possible, you want to keep your reserve account healthy. Here are some ways to build—or preserve—a cash war chest during… Read more
Most small business owners face a time in their career when they have to communicate in ways or about topics they aren’t comfortable with. COVID-19 has put small business owners in the position of having many conversations that are uncomfortable and stressful. Whether you’re communicating with employees about business issues during the pandemic, hoping to negotiate a rent reduction or changes to credit terms, or asking customers for help in… Read more
Hello again for another week. We hope you are healthy and well. This week you probably heard news of the government’s plan to implement a 5 Step COVID-19 Alert System. Government plan for the coming months Step 1 encourages those who CAN work from home to do so. Only those who CANNOT work from home should return to their workplace. Step 2 will not start until at least early June,… Read more
By the time you read this, we may know more of the government’s plan to ease lockdown restrictions. Obviously, getting people back to work will help restart the economy which is good news for all of us. So in this week’s digest, as well as reminding you about government support for businesses, we’ve included a number of resources to help with navigating your business out of the dire situation we’ve… Read more
We hope you and your family are safe and well. The COVID-19 pandemic is impacting nearly every aspect of our lives and will be remembered as a pivotal time in history. Like any other event that impacts the world, we don’t know what the future will be like, but we do know that the other side of this will require resilience and creativity from all of us. In terms of… Read more
Whatever your political views, seeing the Prime Minister in intensive care for three days showed how serious COVID-19 can be. I hope you and your family are safe and well. In terms of government news and updates for business: The Coronavirus Job Retention Scheme online portal from the UK government is expected to be up and running by 20 April, with the first payments in place by 30 April. You’ll… Read more
Firstly, we sincerely hope you and your family are doing well. We know it is a stressful and confusing time with a lot of uncertainty. Please rest assured we are here to help. If you have any questions please just ask. As the COVID-19 pandemic deepens its hold across the country, governments and industry leaders are stepping up to help those impacted. To help you make sense of the barrage… Read more