Your Coronavirus Business Survival & Recovery Guide - Flipbook - Page 9
Bringing the business out of lockdown is as dangerous
as going in and must be carefully planned:
1. You must be able to stand alone now and deal with the
financial position that you are in at this point. Government
life support is now switched off.
2. If you have misjudged this and are short of working capital,
then this could be terminal. This is the point at which many
businesses will go bust due to bad planning.
3. Assume that it will take your business about 4 months to
get back to anything like normal levels of trading.
4. Know your numbers and have a cash flow, profit projection
and balance sheet from the outset that you can refer to.
5. Funding may be required under the CBILS for this time as
well. You may have legacy debt to deal with and growing
start-up capital required.
6. Cash is king more than ever during this period.