Updated: Apr 20
At one time it was all about Brexit. Now it is the coronavirus.
I don’t know about you but I think if we carry on listening to all the discussions and all the advice and all the predictions about economic collapse we are all going to end up feeling depressed and lose focus on what we should be doing.
Hence, this Daily Newsletter. Let us accept that there is serious health issue but we need to and we will get through it. If you are running a business then it is our responsibility to make sure that our businesses survive and we take every possible step not only to meet all the challenges that are thrown at us but also uses valuable time to plan for a better future.
This is why we have called this: Together We Shall Beat It
I would like to hear from you if you have any ideas about how businesses can cope in these difficult times so that we can all share success stories and positive ideas. I would also like to share any funny stories even if it means having a laugh at our expense. So please feel free to communicate with me – I want to make this interactive and something we can all do “together”.
I am going to kick off this first issue by addressing businesses which are facing or likely to face cash flow difficulties and what should be your first port of call. You should of course discuss your particular situation with your accountant who is bound to have some answers but one thing he or she can’t do is to give you any money in which case you need to see what your bank can do for you.
All the big banks have announced that they want to offer full support for small businesses during the crisis – each has set up dedicated advice services.
If you or your business has financial problems, the best advice is to contact your bank as early as possible – they are likely to be besieged with similar requests, so the earlier you speak to your bank the better.
Some banks are offering mortgage holidays, others may increase your overdraft facility or loan facility during this period.
Find more information at:
ROYAL BANK OF SCOTLAND
Remember we are in it all together. Let us work together, share good ideas and positive vibes and that way, We Will Beat It!