Holiday breaks are a time to re-charge for the year ahead. However, for business owners, is a stressful time for cash-flow. Have you got the strategies in place to ensure you are in the best financial position this year?
Christmas holiday breaks are a chance to recharge for the year ahead especially after the year we have had. We look forward to warmer weather and finally setting up an out-of-office email for the break. However, for business owners, this time is a stressful without careful cash-flow planning.
Even if you do continue to operate through the holiday shutdown season, your customers' financial behaviour may not remain the same.
The strategies and tips shared below are generalised, however, we are here if you need to budget and prepare a cash-flow forecast. We can also help if you need assistance in applying for short term finance to get you through the break.
Why is cash-flow planning particularly important at this time of year?
Staff leave needs to be covered in addition to your normal fixed overheads like rent, creditors and tax compliance. The budget and forecasting process ensures you know your numbers and are prepared. If you are shutting down, you won't be driving revenue during this period and sales may take time to get started again in the new year.
Here are some simple strategies that can help
Need financial support?
If you can’t make ends meet, now is the time to organise short term financial relief. Please let us know if you need any help with cash-flow forecasting, budgeting or finance applications.