Financial Planning
Every business we are dealing with are experiencing cashflow pressures, suppliers are finding customers are taking longer to pay bills. It is crucial that all parties communicate at an early stage, explain the issues, and give realistic payment timings. Don’t expect suppliers to be comfortable with deferred payment, but offer interest, and part payments if the whole balance cannot be cleared.
Speak to the bank at an early stage to see if they are able to offer assistance. Producing a cashflow projection should help to see where the position improves. We can help in the production of a cashflow and budget, contact us, and let us help release some pressure.