As business people we need to face this problems NOW. Preserving cash-flow is VITAL.
Below are some suggestions that may be of assistance to you.
1. Prioritise safety and welfare in accordance with HSE and Government advices.
2. Review borrowings, mortgage (if applicable), rent (if applicable), get a clear picture of your outgoings and if necessary, discuss these with your accountant.
3. Review all outgoings to see if any savings can be achieved.
4. Talk to your bank about suspending payment on borrowings.
5. Talk to your bank about extending overdraft.
6. Keep filing for all taxes on time.
7. In so far as it is possible pay all taxes on time.
8. Does billing needs to be brought up to date.
10. Focus your immediate attention on those areas of your business that can generate income in the short term.
I hope this will be of benefit to you.
Kelly Colfer Solicitors
051 421212 | email@example.com
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