COVID RECOVERY PLAN

Creating your roadmap through the next 6 months

Creating your roadmap

You don't us telling you about how hard the last six months have been!

With furlough coming to an end, deferred tax payments becoming due next March and then the need to start repaying loans, there's still a lot for businesses to work their way through

We've developed our COVID recovery plan to help you map a path through the next 6-12 months, giving you certainty and a plan of action to follow for the next few months

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Step #1

Where are we now?

The first step is to fully understand what your current position is.

How much cash is in the bank?

What are any outstanding liabilities?

Once we fully understand your current position, we can start to plan for the months ahead

STEP #2

BREAKEVEN ANALYSIS

Step 2 is to understand exactly what your costs are are how much income you need to generate to cover those costs

STEP #3

CASHFLOW ANALYSIS

Our next step is to analyse your predicted cash flow for the next six to 12 months. By doing so we will be able to calculate what your cash position looks like at the end of each month and what problems may lie ahead for you

Doing this enables to work out a plan between us to navigate and overcome any challenges you might be facing

STEP #4

Scenario modelling

The next step is to ask...What if?

What if our revenues are higher or lower?

What if we hire someone new?

What if we make a redundancy?

We mill model various scenarios on your behalf so that you have comfort knowing that if you need to make changes to the business, you're covered

Step #5

Agree Targets

You now know where you are, what you need to bring in to cover your costs, where your cashflow pinch points are, and what happens if you make various changes to your business in the coming months

Our final step is to agree targets for you to work towards. It is proven that businesses with targets are much more likely to achieve them. Having targets will also help you make sure you stay on track each month

Set up your recovery plan call

To set up a call to discuss getting your recovery plan in action, please email hello@accountancyextra.co.uk or call the office on 01422 365981