With so much uncertaintinty for all businesses due to COVID-19 for the coming year, its more vital than ever to have forward plans, a clear perspective on your cashflow and up to date financials, so you can be proactive rather than reactive in your decision making. The button below links to a short publication from CPA Australia designed to assist business owners to start preparing for the COVID19 business impacts. It is an excellent resource business owners can use to help guide them through the uncertain times ahead.
Five numbers a business owner needs to know right now:
- Business and personal cash reserves
- Monthly fixed operating expenses for the business
- Worst and best case scenario revenue
- What Government support is available
- Personal living expenses and commitments
It is the operation of these five key numbers that will inform any cash flow forecast and financing and staffing decisions. As always, we are here to help if you need it.
Feel free to contact us or call 0403 158 481 if you would like any further advice in this area.