Cashflow concerns in the face of COVID-19

19 March 2020

Whether you need emergency funding now, or are worried about running out of a cash in the near future, there are options available that you might not be aware of yet. Although you may feel frustrated, or even apathetic, with hearing more about ‘coronavirus’, this isn’t going away and you may need more support than you realise.

Putting the impact on our health and wellbeing to one side, the harsh reality is many businesses are suffering or are going to suffer tremendously under the strain caused by the virus. Whether it’s international travel being suspended, staff in self-isolation, imports and exports of goods being restricted, international production being put on hold or entire countries on lock down, there are bound to be repercussions.

You may not think it will affect you directly but it may affect your customers or your suppliers which will have a knock-on effect.

Do you have sufficient cash reserves to see you through a difficult trading period? Do you have contingency plan in place? Do you know at what point you have to start taking action?

There are many aspects to consider and the UHY family can help support you through these tough times by calling on our financial, commercial, strategic and cultural expertise.

We can help you gain access to cash through our online debt funding platform. With access to over 110 carefully selected lenders, we offer an online funding application to multiple lenders through one application process. Ensuring you are introduced to a wide variety of lenders, without the need to physically shop around, and you get some of the best propositions on the market.

Should you be concerned by the impact of coronavirus on your businesses productivity in the coming months and require an additional level of financial security, please contact me on s.hutchison@uhy-uk.com or call 01462 687333.

For those of you who don’t yet understand how your business may be affected, please speak to me or your UHY advisor in the first instance. By putting in place an effective plan now will ensure your business can pull through these uncertain times.