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Your accountant is here to help, and should be able to help you focus on what to do next. Here are a few tips on how to deal with cash flow shortages. 

Government support

During the coronavirus pandemic, a series of measures to help businesses have been made available. Check to see if there are grants and schemes that you can access in your local area. 

Contact your bank manager  

Developing a strong relationship with your bank manager is key for any business. Don’t be afraid to pick up the phone to your bank to discuss your existing facilities. Ensure you discuss your repayment plan and query whether there is any flexibility on covenants for these facilities. 

If you require extra funds, ask whether you can access additional borrowing. You should also consider alternative lenders who may be able to help you in the short term. 

Discuss your options with creditors 

Whether you need to look at existing credit terms or plan for future needs, consider whether there is any flexibility with key creditors, including your suppliers and landlord, to amend payment and pricing terms. If cash flow is currently or going to be tight, prioritise your payments but make sure that you have discussed this with your creditors first. To get them onside, engage proactively and treat them like the important stakeholders that they have been, are now, and will continue to be. 


Staff costs are usually the largest expense a business has. Think about how you use your staffing resources, bring in more efficient practices or utilise staff in a different way. You may consider adjusting your employees’ terms, or ask staff to change their working practices. It is important to note, that any change to an employee’s working arrangements is an employment law matter and appropriate advice should be sought. 

Communicate with your clients  

Staying close to your clients is critical and we recommend that you spend time contacting your key clients. Don’t just rely solely on an email. A telephone call or a visit can be an immensely powerful way of showing you that you value the relationship and don’t be afraid to discuss payments terms. If you are about to take on a large contract, paying up front or in installments will help you to plan your cash flow better. 

Debt collection is crucial for your own cash flow and you must ensure you have a rigid credit control system in place as you have a right to be paid for the work you have done. Treat all clients alike and ensure that the system is adhered to. The acceptance of credit or debit cards for any work carried out will greatly enhance your cash flow. 

We can help you

If you need help to plan your cash flow we are here to help. To arrange a free initial consultation, call on the number above or fill out our form here.

Date published 27 Aug 2020 | Last updated 23 Sep 2020

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.


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