Stop Panicking and Start Planning

Posted by Emma Robison on Mar 22, 2020 12:18:56 PM
Emma Robison
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Here’s our first piece of advice on what to do 

whilst waiting for more information about the Government’s Relief Scheme

  • Communicate with your Creditors and Debtors about payment terms.
  • Ensure you have access to accurate and organised financial information
    about your business to make informed decisions.
  • Lenders will want to see forecasts for your business and know that you
    are in control of the areas you can control.

5 tips for writing your 12-month forecast

  1. Understand the differences between cashflow forecasts and profit/loss forecast
  2. Ensure it is easy to stress test how quickly you will get paid by customers and pay suppliers
  3. Ability to update with actuals (roll forward from starting point)
  4. Create revenue line in a format that allows easy change, the forecast needs to be dynamically variable
  5. Be able to evidence assumptions
We have a team of trusted advisors to sit on your side of the desk and support you through this crisis.

Our team is made up of professionals from a variety of backgrounds, including
ex-Bank Managers, Accountants and Business owners giving us a unique standpoint to assist small businesses during this time.

Whilst all calls for advice and guidance are Free of Charge to our Subscription clients, we are extending this offer to all SMEs at this time.

Please contact us on 0345 50 50 888 or email emma@bfs.ltd.uk for further
information and assistance

Topics: Covid-19

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