Coping with COVID

Covid-19 has brought challenging times for businesses. It is more important than ever to regularly monitor all aspects of your business and to feel in control as much as possible.

To help we have put together a practical check list that not only covers the operational aspects of your business but also the importance of reviewing the well being of yourself as the business owner and of your team. In this rapidly changing environment, it is important to keep focused and be able to quickly react to different circumstances. You can access the checklist here.

Cashflow is a critical measure of the health of your business. You need to be able to understand what impact decisions have on your cashflow – as they say, ‘Cash is King’.

Here are five practical tips to help you manage your cashflow

1) Invoice promptly

2) Follow up on overdue accounts receivables – use technology where you can

3) Review payment terms with suppliers including all outgoings like rent and insurance

4) Review operating costs

5) Be aware of the timing of your tax obligations and options available to you

To address the above issues and give you more support, we have developed services that have been approved for funding under the Regional Business Partner Network (a part of NZ Trade and Enterprise). There is no requirement to repay this funding.

To find out more details about these services click here or contact us directly.