by Lydia Westmore

The outbreak of Coronavirus will inevitably impact all of our businesses.  In the short term, the current situation is likely to have a significant impact on cash flow, with loss of revenues and productivity.  Government support for impacted businesses is coming, but careful management of your short-term cash flow is essential for decision making such as prioritising payments, taking on new debt and negotiating payment plans with creditors.

An industry standard is to use a rolling 13-week cash flow forecast, which enables you to continually track your current cash position and estimate your future inflows and outflows, as well as run various ‘what if’ scenarios to prepare for these uncertain times.

A fully populated and working cash flow forecast demonstrates your active cash management approach and could be shared with your bank, HMRC or other stakeholders.

We have developed such a forecast model, which we can help you to implement quickly and easily, helping you to gain some welcome clarity in these very challenging circumstances.

If you would like to find out more, please get in touch with Lydia by email at lydia@frostwiltshire.co.uk or on 01454 529 529.

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