Most businesses are looking into the not too distant future and can see lockdown easing to a point where life will be back to near normal.
The future for some businesses will appear uncertain while others will see opportunities.
One of the key boosts to the UK economy appears to be the travel restrictions to foreign countries, that will mean more holidays within the UK.
To get to this point, lots of businesses will have used the Government grants to pay essential costs as well as the furlough scheme to retain what may be key staff.
These don’t need to be repaid.
Some businesses will have used the Government loan schemes and taken HMRC’s offer of deferred payments until 2021.
Those with bank debt may well have deferred payment on loans and mortgages, or reduced payments to help manage cash flow.
Any business making plans now to exit lockdown will need to include the payment of any deferred terms or new Government loans into their cash flow.
If you don’t, you risk being in default when payments start which could result in the business failing.
Harrisons Business Rescue can assist with your business plans and help stop your business failing due to poor planning.
For a free consultation contact us HERE