Small businesses express cashflow worries ahead of lockdown easing
According to the latest research from Association of Chartered Certified Accountants (ACCA) and The Corporate Finance Network (CFN), small businesses are apprehensive over their ability to access cash required to operate post-lockdown.
ACCA and CFN’s Weekly SME Health Tracker, which surveys accountancy practitioners advising 1,800 small businesses revealed clients’ three main fears were:
- The ability to manage cashflow pressures,
- Implementing the practicalities of social distancing guidelines at work
- The late payment of invoices
Key short-term findings from the SME Health Tracker show:
- 23% of SMEs are unable to access cash to last another two weeks of lockdown
- 14% of SMEs won’t have access cash to last four weeks of lockdown
- 5% intend to dissolve, up from 4 on last week’s findings
The research shows long-term decisions are “increasingly being put on the backburner” with 60% of companies revealing they are deferring tax liabilities.
If you have any further queries or require further information around how to access loans or funding as well assistance in putting together your cash flow forecast, our dedicated Corporate Finance team are on hand to help guide you through this difficult time. For more information contact Tony Farmer firstname.lastname@example.org