Coronavirus and cashflow: In uncertain times, how do SMEs manage?
Summary
The harsh and shocking effects of the coronavirus crisis are being felt through all parts of society, in every aspect of all our lives. Without effective cashflow management, firms may be unable to pay suppliers, cover immediate needs, and could ultimately go bust in severe cases. This will help you track and report on key business metrics such as accounts receivables aging, operating margins and inventory turnover. The banking and finance industry is committed to supporting viable businesses in continuing to trade while they implement contingency plans. “Small business customers who are worried about cashflow issues should find out more information from their bank or finance provider as soon as possible regarding the support that is available to them.