Topic: End of Furlough
Answer: You are in the same position as many SME’s and the most important thing is to ensure that you are fully scoping the situation you face. Every business needs to generate profit from the top line, this should be your first point of call. What is the outlook for sales? How robust is that forecast and what can you ‘take to the bank’. From here you need to incorporate costs into you planning and the output will show you what the trading period ahead looks like. Cash is king however and you must make sure that cash flows are accurately estimated. Check on your cash collection processes and make sure that you people are following up to get money in on time. If you are concerned after this work and if the numbers aren’t looking good get some help and advice – the earlier you act, the better the outcome – don’t sweep problems under the carpet.
