Business Checklist for Uncertain Times

Get your business ready for uncertain times

We’ve had several questions on how best to work through the current C-19 event. There are many unknowns which impact cashflows and business decisions. We’ve put together a checklist of things to consider so that you may plan and gain comfort that your business will push through.

·      Update Business Plan – Review and update areas of your business plan that may/have been impacted by C-19.

o   Eg. Supply chain surety, service/product delivery method (especially if you are currently face to face), marketing, income streams, etc.

·      Staff leave entitlements – Familiarise yourself with your obligations as an employer.

o   Eg. Leave types may include sick, carers, long service, and unpaid.

·      Cashflow forecasting – Determine the key levers that will impact your cashflow. Pull in learning from the above two steps. Establish several scenarios for worst, mid and best case.

o   Eg. If supply of goods sold is restricted 3, 6 or 12 months – what are the flow on cashflow implications. Adjust your forecast for each scenario so that you can more effectively plan expected spend.

·      Contingencies – Consider contingencies & plans in the event of best, mid and worst-case scenarios.

o   Eg. Worst case supply of stock is limited for 12 months – identify other sources of stock or shift focus to another income stream, etc.

Great ideas and innovation often come out of these uncertain times.

We’re here to help, please be in touch if you would like to chat through any concerns or ideas you have.

Sincerely

Jamie